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

[dontlop]

LOPster tank

Lop talk is not allowed in chat, . And if you get thrown in the lopster tank... watch out for boiling water.

589 topics

17,094 replies

That's the rules in the lopster tank

If your locked up here too bad you deserve it

You don't own the lopster tank because you can't follow the rules in the open forum

[boomer113189]

yes were here for telling the truth that deleting zeros = lop

 

and none so far can refute it

 

the reason why they dont allow  redenomination talk is because the cbi is always talking about it and dont want to scare people about what it really means to the people invested in the currency

 

please tell me im wrong

Edited December 11, 2013 by boomer113189

[Markinsa]

yes were here for telling the truth that deleting zeros = lop

 

and none so far can refute it

 

You have yet to prove that deleting zeros means lop.  If there is even the slightest possibility that deleting the Zeros means Revalue, as everyone outside the tank seems to think, then you can't use that as an absolute. Come back when you really know what you are talking about.

 

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[boomer113189]

Redenomination: a new unit replaces the old unit with a fixed number of old units being converted to 1 new unit. If inflation is the reason for redenomination, this ratio is much larger than 1, usually a positive integral power of 10 like 100, 1000 or 1 million.  the procedure can be referred to as "cutting zeroes"

http://goo.gl/KeI6Ib

Venezuela deleted 3 zeros  - http://goo.gl/bhNxtF

Mexican peso deleted 3 zeros - http://goo.gl/PzwPlf

bulgaria lev deleted 3 zeros - http://goo.gl/RZLR14

Russian ruble deleted 3 zeros - http://goo.gl/8N1tva

Israel shekels deleted 3 zeros - http://goo.gl/oNsF16

Paraguay guarani deleted 3 zeros - http://goo.gl/AvsKKg

Brazil Real deleted 3 zeros - http://goo.gl/Tsi2ur

Zambia deleted 3 zeros -  http://goo.gl/HhFWUF

Afghanistan deleted 3 zeros http://goo.gl/oOMjnE

Brazil deleted 3 zeros - http://goo.gl/Tsi2ur

 

here's just a few currency that have Redenominated/lop/deleted zeros

 

and if you notice they all have the same exchange rate 1000 old to 1

 

iraq delete three zeros - http://goo.gl/QspQrf

 

 

Mahma Khalil Member of the Iraqi Parliament and official spokesperson of the Economic Committee says an agreement has been reached about the mechanisms of introducing the new banknotes after a series of meetings and discussions with the CBI Governor Dr. Sinan Al Shibibi.

He added the exchange rate between the new banknotes and the old ones would be 1:1,000
 

Edited December 11, 2013 by boomer113189

[Markinsa]

It appears 8 out of 10 of those the deleting the three zeros was to combat high inflation, the two others don't have a strong Oil economy like Iraq.  Different circumstances like the papers have been saying.

 

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[boomer113189]

iraq has hyperinflated currencys that why they got so many zeros on them and its no different from any of these other currency's

 

were talking about deleting 3 zeros from currency just as the same is iraq is doest matter how much of anything or what situation there in its all about what they do to there currency and its the same as the rest i posted

[Markinsa]

iraq has hyperinflated currencys that why they got so many zeros on them and its no different from any of these other currency's

 

were talking about deleting 3 zeros from currency just as the same is iraq is doest matter how much of anything or what situation there in its all about what they do to there currency and its the same as the rest i posted

 

No, it is not the same.  Those other countries devalued the existing currency and introduced a new one.  Iraq doesn't want to devalue their currency.

 

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[boomer113189]

No, it is not the same.  Those other countries devalued the existing currency and introduced a new one.  Iraq doesn't want to devalue their currency.

 

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iraq currency is basicly devalued already its 1 /10 of a penny per dinar and they want to make the dinar stronger and increase the value by deleting the zeros. also iraq has said they want to reduce there money supply by deleting the zeros

 

so right now  1166.000 and by deleted three zeros the exchange rate will move like this 1.166 per new dinar only

Edited December 11, 2013 by boomer113189

[dinarbeleiver]

You got all hyped up when this guy called the rv earlier this year. You and several hundred of your "go rv" buddies. Remember? Lol

Now he asks a silly question like this.... It's got to be a little un-nerving for you guys.

hi ya fib china has a massive m2 and the exchange rate of the yuan increased

Also fib I need more time I will post I am getting as much info as possible and when the RV does happen you owe me a million dinars lol

[Markinsa]

iraq currency is basicly devalued already its 1 /10 of a penny per dinar and they want to make the dinar stronger and increase the value by deleting the zeros. also iraq has said they want to reduce there money supply by deleting the zeros

 

so right now  1166.000 and by deleted three zeros the exchange rate will move like this 1.166 per new dinar only

 

You have absolutely no idea what you are talking about do you?

 

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[boomer113189]

if i dont know what i am talking about then please debunk me what does deleted zeros on currency mean for us and bring an article or document stating what it does to the currenct currency if everyone was holding the currency that deleted the zeros on.

[dinarbeleiver]

if i dont know what i am talking about then please debunk me what does deleted zeros on currency mean for us and bring an article or document stating what it does to the currenct currency if everyone was holding the currency that deleted the zeros on.

deleting zeros means a lop however in the case of Iraq we are hoping they delete the leading zeros off the exchange rate.

For fib Brazil has a massive m2 and a very strong exchange rate

[Markinsa]

if i dont know what i am talking about then please debunk me what does deleted zeros on currency mean for us and bring an article or document stating what it does to the currenct currency if everyone was holding the currency that deleted the zeros on.

 

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.

 

 

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[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.

 

 

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i just brought you many articles saying what happened when they deleted three zeros. but yet you cant find one that goes along with ur theroy of what it means with any links

[Markinsa]

i just brought you many articles saying what happened when they deleted three zeros. but yet you cant find one that goes along with ur theroy of what it means with any links

 

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.)

 

The source said, "was to raise this issue in a session hosted by the Council of Ministers, during which the central bank head and talked about the obstacles that could affect the levels of the market and the Iraqi economy in general, considering that the Iraqi experience does not resemble the experiences of other countries."

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[dinarbeleiver]

For fib Venezuela has a massive m2 and a decent exchange rate currently 0.16 bolivar to the $

I'm starting to see a pattern here - it appears that a countries M2 number has no influence over its exchange rate.

[boomer113189]

this says nothing about there currency

[fib1618]

hi ya fib china has a massive m2 and the exchange rate of the yuan increased

Also fib I need more time I will post I am getting as much info as possible and when the RV does happen you owe me a million dinars lol

I am now extending my offer out to the end of 2014.... If by December 31 of next year, they've adjusted the rate to 499 to 1 or better... I will give you 1 million IQD.

Since 2005 China has been slowly revaluing their currency. I think they've increased it about 32% by now. Bottom line is... If you would have bought the hard currency yuan just before they started revaluing, you'd pretty much just be at stinkin break even by now.. despite the appreciation of the currency. I bet you can't guess why.

HARD CURRENCY INVESTMENT IS A LOSERS GAME.

[dinarbeleiver]

Czech Republic current M2 3195472.50 billion exchange rate is currently 0.050 koruna to 1 usd

Iraqs current M2 84695.00 billion current exchange rate 1166 IQD to 1$

There is a definite pattern emerging here apparently m2 has no significant bearing on a countries exchange rate GO RV!!!!

this says nothing about there currency

lopsters have claimed that Iraqs M2 is too high for them to revalue. I am pointing out and I will post in more detail later on that m2 has no bearing on a countries exchange rate what so ever

Canada has an m2 of 1225287.00 billion and an exchange rate 0.94 Canadian dollars to USD. I'm certain there is a pattern emerging here. Could it be that M2 does not determine a countries exchange rate but in actual fact market forces do once the currency is liberalised and floated

[keepmwlknfny]

Czech Republic current M2 3195472.50 billion exchange rate is currently 0.050 koruna to 1 usd

Iraqs current M2 84695.00 billion current exchange rate 1166 IQD to 1$

There is a definite pattern emerging here apparently m2 has no significant bearing on a countries exchange rate GO RV!!!!

lopsters have claimed that Iraqs M2 is too high for them to revalue. I am pointing out and I will post in more detail later on that m2 has no bearing on a countries exchange rate what so ever

The physical amount surely does......which is still too much for them to handle....

[dinarbeleiver]

The physical amount surely does......which is still too much for them to handle....

hello keepem changing the goal post now are we

[boomer113189]

2012 Document - Special Inspector General for Iraq Reconstruction to The United States Congress

 

 

on page 94 it says

In April 2012, the CoM postponed indefinitely plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and required the issuance of new currency notes. The reform would have made the dinar's value slightly less than $1.

 

[Markinsa]

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		$   15,490,000,000,0002	Japan		$   13,120,000,000,0003	United States	$   12,990,000,000,0004	European Union	$   12,270,000,000,0005	Germany		$    4,281,000,000,0006	United Kingdom	$    3,884,000,000,0007	France		$    2,571,000,000,0008	Spain		$    1,969,000,000,0009	Italy		$    1,944,000,000,00010	Brazil		$    1,878,000,000,00011	Australia	$    1,708,000,000,00012	Korea, South	$    1,596,000,000,00013	Canada		$    1,523,000,000,00014	India		$    1,451,000,000,00015	Switzerland	$    1,166,000,000,00016	Hong Kong	$    1,148,000,000,00017	Taiwan		$    1,119,000,000,00018	Netherlands	$    1,119,000,000,00019	Russia		$    1,061,000,000,00020	Mexico		$     738,000,000,00021	Belgium		$     543,200,000,00022	Thailand	$     488,700,000,00023	Malaysia	$     458,500,000,00024	Sweden		$     440,200,000,00025	Austria		$     426,500,000,00026	Singapore	$     400,800,000,00027	Turkey		$     386,500,000,00028	Saudi Arabia	$     360,300,000,00029	Indonesia	$     355,400,000,00030	Norway		$     309,200,000,00031	Portugal	$     298,300,000,00032	Poland		$     293,400,000,00033	Ireland		$     291,100,000,00034	South Africa	$     277,000,000,00035	Greece		$     251,500,000,00036	Untd Arab Emrts	$     234,700,000,00037	Denmark		$     230,800,000,00038	Luxembourg	$     229,900,000,00039	Israel		$     208,800,000,00040	Iran		$     199,900,000,00041	Chile		$     193,200,000,00042	Egypt		$     192,500,000,00043	Venezuela	$     188,200,000,00044	Finland		$     183,400,000,00045	Vietnam		$     163,900,000,00046	New Zealand	$     154,600,000,00047	Czech Republic	$     151,700,000,00048	Colombia	$     151,200,000,00049	Algeria		$     150,000,000,00050	Argentina	$     148,600,000,00051	Philippines	$     132,500,000,00052	Kuwait		$     109,400,000,00053	Morocco		$     107,200,000,00054	Qatar		$      97,970,000,00055	Ukraine		$      97,400,000,00056	Lebanon		$      97,040,000,00057	Nigeria		$      80,100,000,00058	Pakistan	$      76,160,000,00059	Hungary		$      74,500,000,00060	Peru		$      73,970,000,00061	Iraq		$      71,480,000,00062	Oman		$      71,420,000,00063	Kazakhstan	$      70,360,000,00064	Bangladesh	$      66,840,000,00065	Romania		$      63,440,000,00066	Cyprus		$      56,250,000,00067	Slovakia	$      52,730,000,00068	Macau		$      46,800,000,00069	Angola		$      44,650,000,00070	Croatia		$      43,470,000,00071	Libya		$      42,390,000,00072	Jordan		$      38,610,000,00073	Bulgaria	$      37,680,000,00074	Cuba		$      36,290,000,00075	Tunisia		$      31,060,000,00076	Syria		$      30,170,000,00077	Panama		$      29,720,000,00078	Ecuador		$      26,550,000,00079	Slovenia	$      26,520,000,00080	Mauritius	$      26,170,000,00081	Bahrain		$      24,380,000,00082	Sri Lanka	$      21,890,000,00083	Guatemala	$      21,760,000,00084	Kenya		$      21,230,000,00085	Costa Rica	$      20,090,000,00086	Serbia		$      19,780,000,00087	Lithuania	$      19,320,000,00088	Domincn Repblic	$      17,850,000,00089	Azerbaijan	$      17,680,000,00090	Trinidad&Tobago	$      17,280,000,00091	Bolivia		$      17,130,000,00092	Uruguay		$      16,970,000,00093	Ethiopia	$      13,350,000,00094	Belarus		$      13,320,000,00095	Sudan		$      12,830,000,00096	Malta		$      12,660,000,00097	Iceland		$      12,570,000,00098	Nepal		$      12,120,000,00099	Estonia		$      12,110,000,000100	Latvia		$      12,090,000,000101	Brunei		$      11,620,000,000102	Ghana		$      11,560,000,000103	Cote d'Ivoire	$      11,010,000,000104	Zimbabwe	$      11,000,000,000105	Yemen		$      10,590,000,000106	Paraguay	$      10,110,000,000107	Albania		$       9,951,000,000108	Bosnia & Herzna	$       9,577,000,000109	El Salvador	$       9,527,000,000110	Honduras	$       9,112,000,000111	Papua NewGuinea	$       8,624,000,000112	Uzbekistan	$       8,310,000,000113	Tanzania	$       8,285,000,000114	Botswana	$       7,600,000,000115	Namibia		$       7,433,000,000116	Jamaica		$       7,309,000,000117	Gaza Strip	$       6,674,000,000118	West Bank	$       6,674,000,000119	Bahamas, The	$       6,482,000,000120	Afghanistan	$       6,351,000,000121	Cameroon	$       6,279,000,000122	Senegal		$       5,818,000,000123	Barbados	$       5,711,000,000124	Macedonia	$       5,709,000,000125	Cambodia	$       5,695,000,000126	Cayman Islands	$       5,564,000,000127	Mongolia	$       5,456,000,000128	Mozambique	$       5,268,000,000129	Zambia		$       4,906,000,000130	Georgia		$       4,720,000,000131	San Marino	$       4,584,000,000132	Uganda		$       4,162,000,000133	Gabon		$       3,918,000,000134	Burkina Faso	$       3,910,000,000135	Eritrea		$       3,889,000,000136	Congo, Rep	$       3,753,000,000137	Laos		$       3,556,000,000138	Armenia		$       3,555,000,000139	Haiti		$       3,509,000,000140	Moldova		$       3,498,000,000141	Mali		$       3,401,000,000142	Nicaragua	$       3,136,000,000143	Equator Guinea	$       3,115,000,000144	Congo, Dem Rep	$       3,087,000,000145	Benin		$       2,950,000,000146	Madagascar	$       2,926,000,000147	Fiji		$       2,495,000,000148	Suriname	$       2,300,000,000149	Tajikistan	$       2,000,000,000150	Montenegro	$       1,982,000,000151	Kyrgyzstan	$       1,952,000,000152	Guinea		$       1,915,000,000153	Aruba		$       1,765,000,000154	Guyana		$       1,696,000,000155	Turkmenistan	$       1,652,000,000156	Chad		$       1,642,000,000157	Rwanda		$       1,536,000,000158	Togo		$       1,534,000,000159	Malawi		$       1,382,000,000160	Cape Verde	$       1,362,000,000161	Maldives	$       1,298,000,000162	Belize		$       1,263,000,000163	Niger		$       1,201,000,000164	Djibouti	$       1,158,000,000165	Sierra Leone	$       1,152,000,000166	Saint Lucia	$       1,149,000,000167	Antigua&Barbuda	$       1,131,000,000168	Swaziland	$       1,106,000,000169	Bhutan		$       1,018,000,000170	SaintKittsNevis	$        964,100,000171	Lesotho		$        897,000,000172	Grenada		$        715,600,000173	Liberia		$        664,100,000174	Vanuatu		$        610,800,000175	Seychelles	$        553,400,000176	Burundi		$        519,000,000177	Gambia, The	$        512,200,000178	Central AfrRep	$        459,700,000179	Saint Vincent 	$        431,900,000180	Guinea-Bissau	$        414,300,000181	Dominica	$        413,700,000182	Timor-Leste	$        386,900,000183	Solomon Islands	$        386,400,000184	Anguilla	$        383,300,000185	Samoa		$        327,900,000186	Comoros		$        212,100,000187	Tonga		$        169,200,000188	Cook Islands	$        148,200,000189	Micronesia, 	$        118,400,000190	Sao Tome 	$         80,550,000191	Montserrat	$         71,330,000

[keepmwlknfny]

Dont forget the difference between pegged currencies and market driven as their exchange rates do not rely on reserves....

hello keepem changing the goal post now are we

Nope.....been saying for quite a bit of time that I think the physical plays a bigger role. Still no answer for that elephant. ....

[Markinsa]

2012 Document - Special Inspector General for Iraq Reconstruction to The United States Congress

 

 

on page 94 it says

In April 2012, the CoM postponed indefinitely plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and required the issuance of new currency notes. The reform would have made the dinar's value slightly less than $1.

 

 

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

 

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