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Improvement in the value of the Iraqi dinar encourage some countries want to handle it


DinarThug
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just a quick thought...if this is a pure RD and a neutral event, then why are they worried about counterfeit bills?

 

Why would anyone counterfeit currency undergoing a a zero lopping? There would be no money to be made. Plus, the currency has got to be hard to copy with all its security measures.

Sounds like BS to me

 

Anybody?

Exactly this could of been done 10 years ago.  The value remains the same just less bills..25,000 =25=.00086

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D64, I thought about being glib in my response because I simply don't think Iraq

can l op and be what they clearly say they want to be. But then I read Razur's reply.

Absolutely the best explanation ever. Within her response lies the answer , but you

must remember all news articles concerning monetary policy you've read.

Let's focus on number 2. As pointed out by Razur, that is the removal of the zeros

from the, "EXCHANGE RATE". And that is the word most used by the CBI in this context.

"IMPROVE/ENHANCE/INCREASE THE EXCHANGE RATE".

We've also repeatedly read how that ," by deleting the zeros this will lower the amount

of notes in circulation from 4 billion to 1 billion". The answer to this is somewhat more

difficult. We know that most of the dinar in circulation within Iraq is old and worn

out. We further know that there's a severe shortage of them in the streets. This leads me

to believe that they have been removing the larger notes for some time. Now what do

you suppose will happen with the remaining larger notes in Iraq if the central bank

raised the exchange rate to $1.16? And at the same time began issuing crisp new

lower denominations. For the few lucky enough to still have dinar in Iraq it will be the

same as us with one exception, they would be exchanging for the lower denominations.

Thereby reducing the amount of notes in circulation. Ask yourself how can the central

bank know exactly how many notes will be left. Simply because they already know the

rate the dinar is to be and have printed 1 billion notes to replace the old, and they

will be doing so with little shock to the economy. Figuring that out is quite possibly why

this has taken so long. How many articles did we read saying that, "the deletion of

the zeros needs more study"? The central bank lies about numbers, but they are telling

everyone exactly what there monetary intentions are. Hence Shabs statement about

propaganda and education. Hope this helps D64, and thanks Razur for your perfect

explanation. It gave me the clarity needed to expound on this issue.

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Here is another article highlighting the very important evidence that they have been reducing the money supply all along.  I firmly believe that no reduction in money supply = no rv.  But Iraq now on multiple occasion has informed us that the money supply has gone from 8-9 billion notes in circulation to 4 billion.  this in and of itself is enough to give us a good christmas should they rv the currency.  eventually they will get the money supply to 1 billion notes which was an exact amount in circulation when 3 usd = 1 iqd.  

 

my friends don't get frustrated with the articles talking about 30 trillion in circulation and all of that.  we are interested in how many notes are accounted for.  this thing is looking brighter and brighter.  brighter days are definitely ahead my friends.

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Forgive me for my continued confusion on the subject- will you explain to me the difference between this and a lop? Is this good news or bad?

I Know That Ur Question Was For LGD But They Previously Announced Reserves Of Over $80 Billion Which Is More Than 2 1/2 Times The Current Value ! B)

That Was Before All Of The Recent Revelation's Of The Tons Of Gold They've Amassed In Reserve ! :o

Also, DontLop Uncovered Some Research Where They Can Factor In Their Resources In The Ground As An Asset !

In Addition To That The CBI Has Been Commended For Having Kept Inflation At A Bare Minimum !

The Bottom Line Is That There Aren't ANY Of The Traditional Ingredient's For An Old School LOP ! ;)

- CNN

B)B)B)

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Here is another article highlighting the very important evidence that they have been reducing the money supply all along.  I firmly believe that no reduction in money supply = no rv.  But Iraq now on multiple occasion has informed us that the money supply has gone from 8-9 billion notes in circulation to 4 billion.  this in and of itself is enough to give us a good christmas should they rv the currency.  eventually they will get the money supply to 1 billion notes which was an exact amount in circulation when 3 usd = 1 iqd.  

 

my friends don't get frustrated with the articles talking about 30 trillion in circulation and all of that.  we are interested in how many notes are accounted for.  this thing is looking brighter and brighter.  brighter days are definitely ahead my friends.

that 30 trillion in circulation is comical they are lying straight out of their a$$es.  I have told many of you watch what they are doing NOT what they say.  They are setting the stage to go international and have worked hard to get their banks on par to be Article 8 compliant.  The next step is to add true value to their currency and the rest will fall in place. Ask your self this why are countries spending millions to get their way into Iraq? why is the london stock market taking interest in Iraq? do they know something we dont?

Edited by easyrider
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I'm constantly confused by arithmetic meets monetary policy.... I think the basic differences are these:

 

1.A L0P is decimalizing the currency, rebasing it, so that 25,000 dinar would then equal 25 dinar : the zeros are removed from the currency.

 

2. In LGDs example, (which of course is far more preferable): the zeros are deleted from the exchange rate.

 

I'm not sure if in example #2 the zeros would remain on the currency? And a 25,000 bill remains a 25,000 dinar bill? That to me would be the critical question....

 

I don't know if in the minds of some its an either/or proposition (either the exchange rate or the currency)....

If it comes off the exchange rate only, then (to me) a lot of the rationale that's been presented in the media, makes no sense.... (e.g., easier to use banking software programs with zeros deleted, easier to manage commerce with fewer zeros, the value remains the same in terms of what it can buy. etc)...

 

However, it might be that I'm not applying the parameters correctly and maybe somehow in deleting zeros off the exchange rate, somehow fits into the media discussions of the process.... 

 

It seems there are two distinct camps of thinking about this.... and if I understand them... then example #2 is not a L0P as I understand it.....

 

Oh dear I think I'm confusing myself in trying to sort this out to answer.... :D:lol::D

 

That's about as clear as mud huh??

 Ohhhh I like that part a lot..... thanks :)

IF the three zero's remained on the dinar and they made a decree across the land the three zero's no longer exist and a 25,000 dinar is now worth say 25.00 dinar would be interesting and probably confusing for the people.  This would mean they would continue using the dinar in circulation we hold now and skip the usual steps of applying for a new currency code, printing new notes and perhaps money laundering and counterfeiting would be less of an issue.  This then would be a good time to introduce the cards and begin the cashless society.  Funny it sounds like something they would do, cut to the chase and save time and dinar.....a cheap lop so to speak.  Then slowly raise the dinar rate, and print new currency under the same currency code they have now but they would have the three zero's off of it.  I wonder if they could work it that way under IMF rules?

just a quick thought...if this is a pure RD and a neutral event, then why are they worried about counterfeit bills?

 

Why would anyone counterfeit currency undergoing a a zero lopping? There would be no money to be made. Plus, the currency has got to be hard to copy with all its security measures.

Sounds like BS to me

 

Anybody?

I asked the same question a couple of years ago.  Actually they have the same concern of counterfeiting and money laundering in an RD as they would in an RV.  The reason being they would have a boat load of fake dinar,(free dinar for the most part) and in the exchange get new dinar that has the potential to rise.  A nice chunk of dinar for crooks.

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Love it thugs.

They know that now is the time. I believe this will be finished before the elections.

This is telling the Iraqis that parliament is with deleting the zeros.

$1.00=1166 or. 00086

$1.00=$1.16 or .86

Zeros deleted.

Another theory... though I don't have a pic

with Dinar, you'll get the idea!!!   :eyebrows: 

vacuum-money_~k11016106.jpg

Deleting/Removing = sucking em up off the market... by takin' them out of circulation... after all, how many $1000.00 USD's do you see in circulation??? :huh:  Just sayin' that "could be" what they are talking about... with all that "Arabish" we keep hearing!!!   ;) 

 

As always Thug... you got the biggest clown feet around to beat a path to the best news... thanks bro!!!  ;) 

Edited by RodandStaff
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Central Bank. Said committee member Abdul Hussein al-Yasiri in a press statement: The process of deletion of zeros from the national currency will begin during 2014, through an agreement with the central bank, noting: This project will lead to reducing the proportion of the national currency in circulation from four billion to one billion. Added: The value will be reduced to the size of the quarter and this will enhance the value and easy to transport, pointing out that fraud or manipulation of currency cash, it will be very difficult. The CBI identified earlier in the beginning of this year will see the implementation of the project to delete the three zeroes from the national currency, but the Iraqi government has demanded the bank to wait to apply the project, fearing the emergence of counterfeit currency during the switching process.

http://beladitoday.com/index.php?aa=news&id22=15548

 

Finally and article that re-states what I have been hearing for quite sometime that was poo poo-ed by nay sayers. Do I need to name names? I now refer to the  "This project will lead to reducing the proportion of the national currency in circulation from four billion to one billion."   With the value of the IQD at 9 billion now resting on 4 billion notes of national currency in circulation, soon to be resting on 1 billion, if the CBI keeps this money supply remaining at its current rate ... what other proof do yopu need that this is a hard managed float? Proof was there when it went from 30 billion down to 9 billion notes. When it gets there (1 billion notes) it has to pop. The only question would be at what rate will the CBI value the IQD at then? History shows us that last time IQD was at 1 billion notes was under Saddam and the rate it could sustain then was $3.00 US plus per IQD. The GOI and the CBI don't have to increase the value to that $3.00 rate but they could, and they could sustain it. So hopefully it will come out at something closer to $1.00 with thew CBI doing a semi managed float, semi market rate float... up to $3.00. IMHO

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Currency is a joke

You spend it another guy gets it He spends it another guy gets it he spends if

Another guy gets it

It goes on forever

People think you got to get someone else's money to have money

When you can make your own money at the bank in your name with your signiture

It's created out of no where

You create it you spend it once then it gets spent for eternity over and over and over And over

Think about it it's just a payment system

They don't need any thing to create it

No laws passed

No reserves

No nothing

When the time is right

Iraq will show us what they have been up to

So if I spend my money is anyone their making sure it's backed by gold or foriegn reserves

All thy know is money is money and they can spend it too

Its halarious

Its a bunch of mumbo jumbo

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How can you say "making money comes out of nowhere"? You sound like every guru out there unfortunately...Getting money at a bank with a signature is called a loan. It's not yours. Plus the currency is backed.

Once you get that loan

New money now exists in the nations economy

It will circulate forever

It doesn't come out of circulation

Watch the utube video

"Money as debt "

See where money comes from and how it's created and what backs it up

Google it

" money as debt"

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This article is over 6 months old.  I guess everyone likes to read outdated material.  lol

I do

Especially good stuff

Not so much bad stuff

But good stuff

I like reading what everyone thinks

Not what people think about what others think

But what people think about different articles

I watch Andy Griffith still with aunt bee and opie and Barney

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What exactly is backing the dollar?

... and don't even get started with credit cards LGD!!!  :facepalm3:   ;)

Wednesday - February 5 (February 2014) - second year - Issue 482 Wednesday-5 Feb 2014 No. 482

BAGHDAD - My Day

This article is over 6 months old.  I guess everyone likes to read outdated material.  lol

I don't know what your seeing Katie... but it's clearly Feb. 5... wait, let me get my glasses... yup... still Feb. 5th!  ;) 

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IF the three zero's remained on the dinar and they made a decree across the land the three zero's no longer exist and a 25,000 dinar is now worth say 25.00 dinar would be interesting and probably confusing for the people.  This would mean they would continue using the dinar in circulation we hold now and skip the usual steps of applying for a new currency code, printing new notes and perhaps money laundering and counterfeiting would be less of an issue.  This then would be a good time to introduce the cards and begin the cashless society.  Funny it sounds like something they would do, cut to the chase and save time and dinar.....a cheap lop so to speak.  Then slowly raise the dinar rate, and print new currency under the same currency code they have now but they would have the three zero's off of it.  I wonder if they could work it that way under IMF rules?

I asked the same question a couple of years ago.  Actually they have the same concern of counterfeiting and money laundering in an RD as they would in an RV.  The reason being they would have a boat load of fake dinar,(free dinar for the most part) and in the exchange get new dinar that has the potential to rise.  A nice chunk of dinar for crooks.

Yes the but security measures are still a problem - I can see selling them to dopes in the bazaar, but millions of counterfeit dinar destabilizing the economy on a grand scale? These things have watermarks, ultraviolet markings, metal tape -- come on...

 

I think their stories are BS to mask their true intentions - mere excuses

Todays exchange from XE

 

SAUDI RIAL: 3.74 TO $1.

1 RIAL =  $0.02666 

 

TURKEY LIRA: 3.74 TO $1.

1 LIRA = $0.44667

 

KUWAITI DINAR: .028231 TO $1

1 KWD = $3.53

 

IRAQI DINAR: .1161.99 TO $1

1 IQD = $0.000860590

Good to see.

Your point?

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Todays exchange from XE

 

SAUDI RIAL: 3.74 TO $1.

1 RIAL =  $0.02666 

 

TURKEY LIRA: 3.74 TO $1.

1 LIRA = $0.44667

 

KUWAITI DINAR: .028231 TO $1

1 KWD = $3.53

 

IRAQI DINAR: .1161.99 TO $1

1 IQD = $0.000860590

I know, I know,  Pick me!

 

Somebody has got too many zeros!!!

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