Economic representative Announces deferral of removal of zeros to the next parliamentary session

[keepmwlknfny]

Every one of those articles were from economies that were suffering from Hyperinflation, Iraq's currency is hyper-inflated, but the economy isn't hyper-inflated. Yes those countries deleted three zeros and they devalued their currency, but that doesn't mean deleting three zeros means lop when it comes to Iraq. (see the quote below from a recent news article.)

-

All thats saying is that their economy is not similar to others.....not that deleting the zeros isnt a redenomination which magically is used in kany references to deleing the zeros. There is no speculation on what deleting the zeros is, only if they are lying about doing it.....thats really what we are speculating on......

[fib1618]

That's what we want! It doesn't mention devaluing their currency, quite the opposite!

-

Those new currency notes would be under a different ISO CODE. They would be the ones with the rate of just under a dollar... (.86)

The IQD would remain at .00086

[dinarbeleiver]

I think we can safely assume M2 numbers bear no relation what so ever on a countries exchange rate

I better say it again a countries M2 has no bearing on the same countries exchange rate

The lopsters main argument for why Iraq won't revalue has now been debunked. To fib I may have lost the battle but I have not lost the war

[fib1618]

.

Edited December 11, 2013 by fib1618

[boomer113189]

the central bank or iraq - Implementing monetary policy (including exchange rate policies)  

 

http://goo.gl/dlGh0m

 

they set the rates

Edited December 11, 2013 by boomer113189

[dinarbeleiver]

I can post more m2 numbers and exchange rates if people need further proof

[boomer113189]

and the cbi has sated they want to delete the three zeros countless time it just they have postponed it due to timing is not right

[Markinsa]

Those new currency notes would be under a different ISO CODE. They would be the ones with the rate of just under a dollar... (.86)

The IQD would remain at .00086

 

What is the ISO Code for the New Currency?

 

-

[fib1618]

I think we can safely assume M2 numbers bear no relation what so ever on a countries exchange rate

I better say it again a countries M2 has no bearing on the same countries exchange rate

The lopsters main argument for why Iraq won't revalue has now been debunked. To fib I may have lost the battle but I have not lost the war

At a restaurant on my iphone. Girlfriend is mad. Talk to you tomorrow.

What is the ISO Code for the New Currency?

-

They'll release one before the rd. No idea.

[boomer113189]

That's for you to do, you're the one that says deleting the zeros means lop.  Bring us a definitive article from the IMF, World Bank, the FED etc, that deleting the zero's means LOP and I'll agree with you.  But you won't find that, because there isn't one.  We are all here speculating on that meaning, you think it means one thing, we think it means something else. So you sit here saying over and over and over again, that it means LOP ain't going to make it so.

 

 

-

the imf - fed - world bank dont set the dinar rate so its impossible to find it but the cbi does controll and set the rates and i have many articles say they want to delete the zeros   http://goo.gl/twj7Y3

there wont be a new iso code till they Officially release the new currency to the market place

[dinarbeleiver]

Country Comparison :: Stock of broad money  

 

This entry covers all of "Narrow money," plus the total quantity of time and savings deposits, credit union deposits, institutional money market funds, short-term repurchase agreements between the central bank and commercial deposit banks, and other large liquid assets held by nonbank financial institutions, state and local governments, nonfinancial public enterprises, and the private sector of the economy. National currency units have been converted to US dollars at the closing exchange rate for the date of the information. Because of exchange rate movements, changes in money stocks measured in national currency units may vary significantly from those shown in US dollars, and caution is urged when making comparisons over time in US dollars. In addition to serving as a medium of exchange, broad money includes assets that are slightly less liquid than narrow money and the assets tend to function as a "store of value" - a means of holding wealth.

 

 

BROAD MONEY (M2) - CIA FACTBOOK - (in US Dollars - $)

1 China $ 15,490,000,000,000

2 Japan $ 13,120,000,000,000

3 United States $ 12,990,000,000,000

4 European Union $ 12,270,000,000,000

5 Germany $ 4,281,000,000,000

6 United Kingdom $ 3,884,000,000,000

7 France $ 2,571,000,000,000

8 Spain $ 1,969,000,000,000

9 Italy $ 1,944,000,000,000

10 Brazil $ 1,878,000,000,000

11 Australia $ 1,708,000,000,000

12 Korea, South $ 1,596,000,000,000

13 Canada $ 1,523,000,000,000

14 India $ 1,451,000,000,000

15 Switzerland $ 1,166,000,000,000

16 Hong Kong $ 1,148,000,000,000

17 Taiwan $ 1,119,000,000,000

18 Netherlands $ 1,119,000,000,000

19 Russia $ 1,061,000,000,000

20 Mexico $ 738,000,000,000

21 Belgium $ 543,200,000,000

22 Thailand $ 488,700,000,000

23 Malaysia $ 458,500,000,000

24 Sweden $ 440,200,000,000

25 Austria $ 426,500,000,000

26 Singapore $ 400,800,000,000

27 Turkey $ 386,500,000,000

28 Saudi Arabia $ 360,300,000,000

29 Indonesia $ 355,400,000,000

30 Norway $ 309,200,000,000

31 Portugal $ 298,300,000,000

32 Poland $ 293,400,000,000

33 Ireland $ 291,100,000,000

34 South Africa $ 277,000,000,000

35 Greece $ 251,500,000,000

36 Untd Arab Emrts $ 234,700,000,000

37 Denmark $ 230,800,000,000

38 Luxembourg $ 229,900,000,000

39 Israel $ 208,800,000,000

40 Iran $ 199,900,000,000

41 Chile $ 193,200,000,000

42 Egypt $ 192,500,000,000

43 Venezuela $ 188,200,000,000

44 Finland $ 183,400,000,000

45 Vietnam $ 163,900,000,000

46 New Zealand $ 154,600,000,000

47 Czech Republic $ 151,700,000,000

48 Colombia $ 151,200,000,000

49 Algeria $ 150,000,000,000

50 Argentina $ 148,600,000,000

51 Philippines $ 132,500,000,000

52 Kuwait $ 109,400,000,000

53 Morocco $ 107,200,000,000

54 Qatar $ 97,970,000,000

55 Ukraine $ 97,400,000,000

56 Lebanon $ 97,040,000,000

57 Nigeria $ 80,100,000,000

58 Pakistan $ 76,160,000,000

59 Hungary $ 74,500,000,000

60 Peru $ 73,970,000,000

61 Iraq $ 71,480,000,000

62 Oman $ 71,420,000,000

63 Kazakhstan $ 70,360,000,000

64 Bangladesh $ 66,840,000,000

65 Romania $ 63,440,000,000

66 Cyprus $ 56,250,000,000

67 Slovakia $ 52,730,000,000

68 Macau $ 46,800,000,000

69 Angola $ 44,650,000,000

70 Croatia $ 43,470,000,000

71 Libya $ 42,390,000,000

72 Jordan $ 38,610,000,000

73 Bulgaria $ 37,680,000,000

74 Cuba $ 36,290,000,000

75 Tunisia $ 31,060,000,000

76 Syria $ 30,170,000,000

77 Panama $ 29,720,000,000

78 Ecuador $ 26,550,000,000

79 Slovenia $ 26,520,000,000

80 Mauritius $ 26,170,000,000

81 Bahrain $ 24,380,000,000

82 Sri Lanka $ 21,890,000,000

83 Guatemala $ 21,760,000,000

84 Kenya $ 21,230,000,000

85 Costa Rica $ 20,090,000,000

86 Serbia $ 19,780,000,000

87 Lithuania $ 19,320,000,000

88 Domincn Repblic $ 17,850,000,000

89 Azerbaijan $ 17,680,000,000

90 Trinidad&Tobago $ 17,280,000,000

91 Bolivia $ 17,130,000,000

92 Uruguay $ 16,970,000,000

93 Ethiopia $ 13,350,000,000

94 Belarus $ 13,320,000,000

95 Sudan $ 12,830,000,000

96 Malta $ 12,660,000,000

97 Iceland $ 12,570,000,000

98 Nepal $ 12,120,000,000

99 Estonia $ 12,110,000,000

100 Latvia $ 12,090,000,000

101 Brunei $ 11,620,000,000

102 Ghana $ 11,560,000,000

103 Cote d'Ivoire $ 11,010,000,000

104 Zimbabwe $ 11,000,000,000

105 Yemen $ 10,590,000,000

106 Paraguay $ 10,110,000,000

107 Albania $ 9,951,000,000

108 Bosnia & Herzna $ 9,577,000,000

109 El Salvador $ 9,527,000,000

110 Honduras $ 9,112,000,000

111 Papua NewGuinea $ 8,624,000,000

112 Uzbekistan $ 8,310,000,000

113 Tanzania $ 8,285,000,000

114 Botswana $ 7,600,000,000

115 Namibia $ 7,433,000,000

116 Jamaica $ 7,309,000,000

117 Gaza Strip $ 6,674,000,000

118 West Bank $ 6,674,000,000

119 Bahamas, The $ 6,482,000,000

120 Afghanistan $ 6,351,000,000

121 Cameroon $ 6,279,000,000

122 Senegal $ 5,818,000,000

123 Barbados $ 5,711,000,000

124 Macedonia $ 5,709,000,000

125 Cambodia $ 5,695,000,000

126 Cayman Islands $ 5,564,000,000

127 Mongolia $ 5,456,000,000

128 Mozambique $ 5,268,000,000

129 Zambia $ 4,906,000,000

130 Georgia $ 4,720,000,000

131 San Marino $ 4,584,000,000

132 Uganda $ 4,162,000,000

133 Gabon $ 3,918,000,000

134 Burkina Faso $ 3,910,000,000

135 Eritrea $ 3,889,000,000

136 Congo, Rep $ 3,753,000,000

137 Laos $ 3,556,000,000

138 Armenia $ 3,555,000,000

139 Haiti $ 3,509,000,000

140 Moldova $ 3,498,000,000

141 Mali $ 3,401,000,000

142 Nicaragua $ 3,136,000,000

143 Equator Guinea $ 3,115,000,000

144 Congo, Dem Rep $ 3,087,000,000

145 Benin $ 2,950,000,000

146 Madagascar $ 2,926,000,000

147 Fiji $ 2,495,000,000

148 Suriname $ 2,300,000,000

149 Tajikistan $ 2,000,000,000

150 Montenegro $ 1,982,000,000

151 Kyrgyzstan $ 1,952,000,000

152 Guinea $ 1,915,000,000

153 Aruba $ 1,765,000,000

154 Guyana $ 1,696,000,000

155 Turkmenistan $ 1,652,000,000

156 Chad $ 1,642,000,000

157 Rwanda $ 1,536,000,000

158 Togo $ 1,534,000,000

159 Malawi $ 1,382,000,000

160 Cape Verde $ 1,362,000,000

161 Maldives $ 1,298,000,000

162 Belize $ 1,263,000,000

163 Niger $ 1,201,000,000

164 Djibouti $ 1,158,000,000

165 Sierra Leone $ 1,152,000,000

166 Saint Lucia $ 1,149,000,000

167 Antigua&Barbuda $ 1,131,000,000

168 Swaziland $ 1,106,000,000

169 Bhutan $ 1,018,000,000

170 SaintKittsNevis $ 964,100,000

171 Lesotho $ 897,000,000

172 Grenada $ 715,600,000

173 Liberia $ 664,100,000

174 Vanuatu $ 610,800,000

175 Seychelles $ 553,400,000

176 Burundi $ 519,000,000

177 Gambia, The $ 512,200,000

178 Central AfrRep $ 459,700,000

179 Saint Vincent $ 431,900,000

180 Guinea-Bissau $ 414,300,000

181 Dominica $ 413,700,000

182 Timor-Leste $ 386,900,000

183 Solomon Islands $ 386,400,000

184 Anguilla $ 383,300,000

185 Samoa $ 327,900,000

186 Comoros $ 212,100,000

187 Tonga $ 169,200,000

188 Cook Islands $ 148,200,000

189 Micronesia, $ 118,400,000

190 Sao Tome $ 80,550,000

191 Montserrat $ 71,330,000

can I say something to you markinsa - you bloody ROCK!! Added you as a friend hope that's ok

[Markinsa]

can I say something to you markinsa - you bloody ROCK!! Added you as a friend hope that's ok

 

Check out the M1 numbers  Friend adds are ok.

 

-

[dinarbeleiver]

Check out the M1 numbers  Friend adds are ok.  -

thanks Markinsa for the link - I might compile a chart or a couple of charts showing how M1 and M2 numbers have no correlation on a countries exchange rate.

I think breitling was correct on that old conference call- amateur hour lol

[sandfly]

HEHEHEHEHEEE

[Jack5657]

I think we can safely assume M2 numbers bear no relation what so ever on a countries exchange rate

I better say it again a countries M2 has no bearing on the same countries exchange rate

The lopsters main argument for why Iraq won't revalue has now been debunked. To fib I may have lost the battle but I have not lost the war

 

LOL. I've been "lurking" both here & over on DBB for a while and Dinarbeliever, you didn't just "lose the battle" you were utterly mauled & taken apart all aspects to a degree it was almost cringe-worthy to see what you'd write next (and everyone can see it except yourself). 

butt-kicking:

 

 

Even now you're talking gibberish. Eg, Venezuela lopped back in 2003 from 4k to just 4 (it took all of 20s to find that out). And you hold that up as "proof of Iraq's imminent  RV".    Funny thing is, Venezuela has twice the amount of oil reserves Iraq does, (which also shoots down "Iraq will RV because of their oil") in flames too... Venezuela also has a much lower black market currency due to Chavez's fake unsustainable pegs. As for other countries, you've also ignored both the facts that 1. The pegged countries all have vastly different amounts of Forex reserves backing their pegs, and 2. Half of them (Canada, etc) are floating not pegged and valued by the market not some centrally planned Communist dictat that you dream of Iraq becoming. You really don't understand anything about currencies in the real world, do you?

 

The funny thing is Markinsa's table says the exact opposite of what you think it does - Iraq has a money supply worth just $71.4bn. That's its value. Not 71 TRILLION dollars but 71 BILLION dollars. Given Iraq only has around $70bn-$80bn CBI reserves to maintain its peg, and has printed about 80,000-85,000bn bn or so Dinar (compared to Kuwait's 30bn KWD - gee I wonder why there's such a +3,000x difference in exchange rate between them...   ), 1000:1 to 1100:1 *IS* the Dinar's genuine "fair pegged" rate. See IMF quote saying just that on the forum you lost your argument. So there isn't going to be any $84 TRILLION "RV" ($1) or completely silly $285 TRILLION "RV" ($3.5 rate) or the CBI would run out of $ before they "RV'd" even 0.1% of Dinar in circulation. And you clap and cheer and claim "she proves you right". "Amateur hour" indeed... 

 

As someone else said, look at the "flip-side" of an RV on all future trade : who the hell's going to pay $35,000 to import a product worth $8.60 from Iraq tomorrow (10,000 Dinar @ "3.5 rate" with no lop (because "RV's" don't adjust internal prices only external rates) when it only cost $8.60 today (10,000 Dinar @ 1164:1), and would still only cost $8.60 to import from Turkey, Jordan, etc. shakehead: Like that guy told you on the other forum - if Iraq makes the Dinar 1,000-3,500x more valuable in real terms vs every other country on Earth, then the result is the same effect on trade with Iraq as if everyone else devalued their currencies vs a static Iraq. And all that would do is destroy Iraq's export economy and kill off all investment in Iraq. It takes an 'extra special person' to pump that day after day without seeing the obvious fallacy...

 

Moving the FX rate in real terms also moves how expensive / cheap it is to trade with your country in future (that's why China under-pegs the Yuan) and moving the Dinar 3,500x in real terms also makes it 3,500x more expensive for non-Iraqi's to buy stuff from Iraq, has been the giant "elephant in the room" that's been staring you in the face the whole time... All these people obsessed with "me and my banknotes, I'm gonna be rich!" delusions of grandeur have all collectively "forgot" why currencies exist in the first place - for trade (or why the Dinar fell in value in the first place - plain and simple inflation)...

 

Give it up guy. You lost Big-time. That's why you ended up with such hypocrisy as cheering the fantasy RV here whilst simultaneously posting this over there:-

 

Dinarbeliever : "If those m2 figures are correct then it's certain the dinar will lop".

 

And if your "advice" now is anything like your past track pumping record, you're already a lost cause...

 

"6-1-13 DinarBeliever: I used to think it would not happen overnight. But now recently I firmly believe it will happen overnight and I will go out on a limb here before 8th July 2013".

[fib1618]

thanks Markinsa for the link - I might compile a chart or a couple of charts showing how M1 and M2 numbers have no correlation on a countries exchange rate.

I think breitling was correct on that old conference call- amateur hour lol

Would you please pass me a hit of whatever your smoking? I gotta have some of dat.

HEHEHEHEHEEE

I agree. He's cracking me up too. Edited December 11, 2013 by fib1618

[fib1618]

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

Dinarbeliever doesn't understand that he has to factor in a countries foreign currency reserves when talking m2's and exchange rates..Iraq has about $80Billion in reserves some countries have reserves that dwarf Iraq's. Some measured in the trillions.

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

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

You wonder why a country with a similar m2 number has a higher exchange rate than Iraq. It's because they have a stash of reserves much higher than Iraq's. This chit ain't rocket science.

Edited December 11, 2013 by fib1618

[fib1618]

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

Dinarbeliever,

I saw that comment you made above about me winning the battle but you're gonna win the war.

I didn't win nothing. I'm a friggin joke.

One thing that did happen is those really smart guys on that other site totally mopped the floor with your backside.

Edited December 11, 2013 by fib1618

[fib1618]

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

I know that I can be like a broken record, but.....

I'm STILL WAITING for you go rv'ers to show me an "overnight"... positive currency revaluation of more than 20%. I've been waiting for months now.

Nothing...

.they don't happen.

Edited December 11, 2013 by fib1618

[fib1618]

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

Wow!!!!

Another dinar pumper lie has been exposed. To bad I'm not allowed to bring it over and paste it here.

Crying shame.

Edited December 11, 2013 by fib1618

[fib1618]

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

Wow!!!!

Another dinar pumper lie has been exposed. To bad I'm not allowed to bring it over and paste it here.

Crying shame.

[fib1618]

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

I'm still trying to figure out why folks post the currency auctions here. What the heck are we supposed to glean from them????

[fib1618]

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

Remember this load of donkey dung?

"11-8-2013 Intel/Newshound Guru Poppy3 I AND BGG TOLD EVERYONE MANY TIMES THAT THE CLOSER WE GET TO THE REAL RV THE MORE WILD STORIES AND MIS INFORMATION WILL BE TOLD. REMEMBER KUWAIT AND CHINA BOTH ANNOUNCED THE DAY THEY RV’ED THAT THEY WHERE NOT READY TO RV AND WOULD WAIT AT LEAST 3 MONTHS BEFORE THEY WOULD RV AND THAT SAME DAY AT 3PM THEY RV’ED. CHINA EVEN TOOK OUT A FULL PAGE ADD IN THE WSJ THAT MORNING EDITION SAYING THEY WOULD NOT RV AND AT 3 PM THEY DID . WE ARE LOOKING GOOD PEEPS."

People actually fell for these lies.

What really happened????

[caz1104]

Fib/Mr Rich/......and whomever else you are or have been,

If you're truly about helping others why not go to the other sites you mention and educate. Here at DV the majority know the pros & cons and accept them. You keep talking about other sites and their lies, well do something if it bothers you so, attack the liars there where someone will hear you, they don't/can't hear you here. But as you and I know it's about attention/ego and you won't get either stroked at the other sites. I heard thru the grapevine DBB has made you a honorary DB..................LOL who didn't know that. I applaud you on your self righteousness.....................GO RD/MIN GAIN!!!!!!!! 

Edited December 11, 2013 by caz1104

[dinarbeleiver]

LOL. I've been "lurking" both here & over on DBB for a while and Dinarbeliever, you didn't just "lose the battle" you were utterly mauled & taken apart all aspects to a degree it was almost cringe-worthy to see what you'd write next (and everyone can see it except yourself). butt-kicking:  Even now you're talking gibberish. Eg, Venezuela lopped back in 2003 from 4k to just 4 (it took all of 20s to find that out). And you hold that up as "proof of Iraq's imminent  RV".    Funny thing is, Venezuela has twice the amount of oil reserves Iraq does, (which also shoots down "Iraq will RV because of their oil") in flames too... Venezuela also has a much lower black market currency due to Chavez's fake unsustainable pegs. As for other countries, you've also ignored both the facts that 1. The pegged countries all have vastly different amounts of Forex reserves backing their pegs, and 2. Half of them (Canada, etc) are floating not pegged and valued by the market not some centrally planned Communist dictat that you dream of Iraq becoming. You really don't understand anything about currencies in the real world, do you? The funny thing is Markinsa's table says the exact opposite of what you think it does - Iraq has a money supply worth just $71.4bn. That's its value. Not 71 TRILLION dollars but 71 BILLION dollars. Given Iraq only has around $70bn-$80bn CBI reserves to maintain its peg, and has printed about 80,000-85,000bn bn or so Dinar (compared to Kuwait's 30bn KWD - gee I wonder why there's such a +3,000x difference in exchange rate between them...   ), 1000:1 to 1100:1 *IS* the Dinar's genuine "fair pegged" rate. See IMF quote saying just that on the forum you lost your argument. So there isn't going to be any $84 TRILLION "RV" ($1) or completely silly $285 TRILLION "RV" ($3.5 rate) or the CBI would run out of $ before they "RV'd" even 0.1% of Dinar in circulation. And you clap and cheer and claim "she proves you right". "Amateur hour" indeed...   As someone else said, look at the "flip-side" of an RV on all future trade : who the hell's going to pay $35,000 to import a product worth $8.60 from Iraq tomorrow (10,000 Dinar @ "3.5 rate" with no lop (because "RV's" don't adjust internal prices only external rates) when it only cost $8.60 today (10,000 Dinar @ 1164:1), and would still only cost $8.60 to import from Turkey, Jordan, etc. shakehead: Like that guy told you on the other forum - if Iraq makes the Dinar 1,000-3,500x more valuable in real terms vs every other country on Earth, then the result is the same effect on trade with Iraq as if everyone else devalued their currencies vs a static Iraq. And all that would do is destroy Iraq's export economy and kill off all investment in Iraq. It takes an 'extra special person' to pump that day after day without seeing the obvious fallacy... Moving the FX rate in real terms also moves how expensive / cheap it is to trade with your country in future (that's why China under-pegs the Yuan) and moving the Dinar 3,500x in real terms also makes it 3,500x more expensive for non-Iraqi's to buy stuff from Iraq, has been the giant "elephant in the room" that's been staring you in the face the whole time... All these people obsessed with "me and my banknotes, I'm gonna be rich!" delusions of grandeur have all collectively "forgot" why currencies exist in the first place - for trade (or why the Dinar fell in value in the first place - plain and simple inflation)... Give it up guy. You lost Big-time. That's why you ended up with such hypocrisy as cheering the fantasy RV here whilst simultaneously posting this over there:- Dinarbeliever : "If those m2 figures are correct then it's certain the dinar will lop". And if your "advice" now is anything like your past track pumping record, you're already a lost cause... "6-1-13 DinarBeliever: I used to think it would not happen overnight. But now recently I firmly believe it will happen overnight and I will go out on a limb here before 8th July 2013".

i will get a chart up for you. That statement I made about the M2 was before I research and found out a hell of a lot of other countries have a far bigger M2 than Iraq currently has. Also about currencies as well Iraq currently has a pegged currency that does not react much to market forces. We are waiting on Iraq to change that peg to a float regime where market forces will determine the value of the dinar. Venuzewela did lop their currency but they don't have USA and uk support. Kiss my bottom