Trial starts in alleged currency fraud scheme

[ewingm]

Yep, you're right.  The dinar will be revaluated..........after the three zero lop that's coming first.  Why first you ask?  To get rid of 80 TRILLION dinars, that's why. Only a moron would revalue 80 trillion dinar when, with a RD first, they only have to revalue 80 billion dinar.  And the Iraqis ain't stupid.  Tribal maybe, but not stupid.

[keepmwlknfny]

Lol hey I eat turkey bones and all on thanks giving

I Win the turkey eating contest every time

I can eat three whole turkeys in 15 minutes

Revaluation of the Turkish Lira

http://en.m.wikipedia.org/wiki/Revaluation_of_the_Turkish_Lira

Because of the chronic inflation experienced in Turkey from the 1970s through to the 1990s, the old lira experienced severe depreciation. Turkey has had high inflation rates compared to other developed countries and suffered hyperinflation. From an average of 9 lira per U.S. dollar in the late 1960s, the currency came to trade at approximately 1.65 new lira per U.S. dollar in late 2001. This represented an average inflation of about 38% per year. Prime Minister Recep Tayyip Erdoğan had called this problem a "national shame". With the revaluation of the Turkish old lira, the Romanian leu (also revalued in July 2005) briefly became the world's least valued currency unit.

http://en.m.wikipedia.org/wiki/Revaluation_of_the_Turkish_Lira

Any one who says Iraq will rd doesn't know what they are talking about

If you think they will delete three zeros without changing the exchange rate your lost

Start over and make your case then post links this time

Prove your point

Don't pretend you know while everyone laughs at you

Rd

Ah ha ha ha ha ha ya ha

They gonna lop three zeros and rd

Ah ha ha ha ha ha

And they gonna lock up the banks from you

Ah ha ha ha ha ha ha

Revaluation means a change of a price of goods or products. This term is specially used as revaluation of a currency, where it means a rise of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. Altering the face value of a currency without changing its foreign exchange rate is a redenomination, not a revaluation.

In general terms, revaluation of a currency is a calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (i.e. central bank) can alter the official value of the currency. Contrast to "devaluation".

For example, suppose a government has set 10 units of its currency equal to one US dollar. To revalue, the government might change the rate to five units per dollar. This would result in that currency being twice as expensive to people buying that currency with U.S. dollars than previously and the US dollar costing half as much to those buying it with foreign currency.

Before the Chinese government revalued the yuan, it was pegged to the US dollar. It is now pegged to a basket of world currencies.

Read more: http://dinarvets.com/forums/index.php?/topic/177244-revaluation/#ixzz31AewayCY

Your gonna have to do better then posting links from a site that anyone can change as they please lol....it was a redenomination....you simply just like to argue about things that cannot be changed. You can't change history....I've told you this many times....

Try a better link... http://www.tcmb.gov.tr/yeni/iletisimgm/NTL_faq.htm

[dontlop]

When 70 trillion are frozen already and the entire m2 is at 78 trillion

No need to worry about 80 trillion

If the govt has 70 billion dollars worth of dinar frozen they aren't liable to buy 70 trillion dinars out of 78 trillion dinar back

Leaving them with 80 billion in reserves to cover 8 trillion dinar

Or one penny each

But adding the 180 billion dollars abroad to buy back those 8 trillion would triple that

The dinar is a local currency

They don't need to worry about very much of it leaving Iraq

They can put out 350 billion dollars worth of dinar to use within Iraqi borders

And don't need to worry about backing any more than 25% to be compliant

You guys need to relax about your speculations and let this play out

No one knows what they are going to do

You guys want to talk people into taking a loss now

What are you going to do if it rvs to 3500 dollars per million next month when you just told everyone to sell off now for a loss

You guys don't have a shred of information more than the rest of us do

You would post it if you did

[keepmwlknfny]

When 70 trillion are frozen already and the entire m2 is at 78 trillion

No need to worry about 80 trillion

If the govt has 70 billion dollars worth of dinar frozen they aren't liable to buy 70 trillion dinars out of 78 trillion dinar back

Leaving them with 80 billion in reserves to cover 8 trillion dinar

Or one penny each

But adding the 180 billion dollars abroad to buy back those 8 trillion would triple that

The dinar is a local currency

They don't need to worry about very much of it leaving Iraq

They can put out 350 billion dollars worth of dinar to use within Iraqi borders

And don't need to worry about backing any more than 25% to be compliant

You guys need to relax about your speculations and let this play out

No one knows what they are going to do

You guys want to talk people into taking a loss now

What are you going to do if it rvs to 3500 dollars per million next month when you just told everyone to sell off now for a loss

You guys don't have a shred of information more than the rest of us do

You would post it if you did

And so now the frozen funds are gonna be put away in the CBI reserves so you can be rich when Iraq needs money to build up their infrastructure? Lol...priceless

[dontlop]

Do you know how many dollars are circulating in Iraq after ten years of auctions ?

Answer is no

You don't

What about de dollarization

And how legal tender laws can effect de dollarization

[ewingm]

I am only restating what the CBI has said many times.  Many times.  They were temporarily blocked by the parliment which had other worries on their mind.  I'm not telling anybody to sell their dinars.  I'm telling them what they will face if a RD is announced.  Americans are in a very dangerous position.  You're holding another country's physical currency which may require exchange.  There's very few places to exchange and NO places to cash in.  You should feel rather uneasy about that, but I have found that almost none of you do.   Jonestown.

[dontlop]

There is no rd coming

If they delete zeros the foreign exchange rate will change for the iqd

Therefore there will be no rd just addition of new notes and a revaluation

They could peg a exchange rate between the zero notes and the new lowers denominations

It will be like the last exchange

The new notes will be NID again then resort back to IQD after exchange period

I'm not going to tell you any more

This is the last time

The pegged exchange rate between the NID and the notes we hold does not need to be 1000 to one if they delete three zeros

They have plenty of money to peg a different rate between the two IQD notes

It could be 300 to one

Or 100 to one

Or 30 to one

Or 86 to one

It doesn't have to be 1000' to one or one to one

It could be 150 to one

It could be 10 to one

No one knows how much they are going to add to the value of the dinar we hold

Why add value

To increase the GDP

Why increase the GDP for the taxes they collect forever after that

The GDP could double because of the rv

It could triple

From 200 billion to 600 billion

About where Iraq should be right now

6 or 7 hundred billion GDP with 350 billion dollars worth of dinar in m2

[ewingm]

The CBI says they're going to redenominate.  They say they're going to lop the zeros off their currency.  I'm only quoting the CBI's own words.  If you don't believe them, that's fine with me.  But if they do what they say they're going to do, you and about a million other dinar holding Americans are going to be in the scrabble of your lives trying to find someone to exchange with.  Otherwise you lose your money.  Not just part of it.  All of it.  A lot of people can't afford to lose their investment.  

[Silverado_550HP]

You know, ewingm why are you even here? If you care sooo much about IQD investment being a scam and don't even own a single dinar, then why are you EVEN in a dinar forum? You are just here to TROLL, that is why you are here. Everyday you post the same things, everyday you say the Dinar will get lopped, and everyday, all day you are here. Don't even mention " im here to educate people." Oh please, wanna educate people? Become a teacher.

 

Like 94% of the people here in this forum have dinar, and here you are saying its going to become worthless & it will be impossible to exchange dinar when they drop the zeroes, etc.

 

It is like going to a Christian forum, and saying " The lord isn't real or prove to me God is true and not the big bang theory."  Or going to a Chevy forum and saying " Oh, Ford is way better, chevy engines will brake down on you. "  

 

Fellow " LOPsters " please just stop, I made this account just now.  I've been coming to Dinar vets like for 2 weeks to read Iraqi news, and I noticed its just you three, that Keep guy, Revalue today, and you ewingm. You guys start anti-revalue topics, and oh dam, like 20 pages of the same BS. I mean don't you people have ANYTHING else to do with your lifes? Instead of hanging out with friends or family? No, just behind a computer screen, trolling people who purchased IQD.

 

You know, just out of curiosity, you folks remind me of Barry, Stew, and Kev from that Iraq News webpage. Caring soo much about how people in American are doomed. Saying, "Oh Iraq has 80 trillion in circulation or Iraq will make the Dinar only tradable in Iraq." It reflects on how sad some people lifes are, just trying to make others upset.

 

 

And then, these "LOPsters" will reply to this comment, either asking for a link, calling me names, or most likely say " But Iraq will drop the zeroes, you know I'm right "

Must be fun being you folks, saying the same BS over & over again, getting banned, create a new email, new dinar vets account, and the process repeats itself.

 

But O'well, it is what it is. You know I'm dam right.

[dontlop]

All you got is some Iraqi reporter saying someone says something

That's it

Some lopster guru writing crap trying to get people to sell their dinar so his boss can recycle dinar

And this makes you hysterical

Maybe you need a hysterectomy

The CBI says they're going to redenominate.  They say they're going to lop the zeros off their currency.  I'm only quoting the CBI's own words.  If you don't believe them, that's fine with me.  But if they do what they say they're going to do, you and about a million other dinar holding Americans are going to be in the scrabble of your lives trying to find someone to exchange with.  Otherwise you lose your money.  Not just part of it.  All of it.  A lot of people can't afford to lose their investment.

Bs

A couple gurus making up crap on a daily basis is what you got

When I was a boy dirt was rocks

They gave me a hammer on my first birthday and look what happened

Ever hear of the Panama Canal ?

I roughed it out for teddy Roosevelt and his boys

Ever hear of the Sierra Nevadas ?

That where i put all the dirt

I carried it up there in two burlap sacks

One on each shoulder

Then came the garden of Eden

I knew I could make a fortune off this one

So I took those burlap sacks and made brim hats out of them

So I stood outside those pearly gates and sold them

That's where I made my first million

I really think you could use a full hysterectomy

You should see a doctor

Your hysterical

[dontlop]

Guh hey rocky

Watch me pull a rabbit out of my hat

Guh

Nothin up my sleeve

http://m.youtube.com/watch?v=CuWhgyGWkgE

[Yukon Silvermoon]

LOL

 

My Chia pet didn't grow hair as advertised, My ShamWow towel was just a towel. There are millions of scams you guys could go after.......................let me guess you don't. Your Savoir Crown only works in Dinarland I see - LOL  Priceless 

Hey, those Shamwows actually work pretty effectively.  I got some as a gag gift one year because I kept quoting the entire commercial, and honestly, to this day they seem to be perfect. 

[captl1]

And the topic was??

[ewingm]

Dontlop, you should have been a poet.  You actually have some talent in that area, unless you are cutting and pasting someone else's work.  You say the gurus were the ones spewing the redenomination scare.  WRONG!  The CBI officials including Selah stated very plainly with NO ambiquity, that they will redenominate by dropping the zeros.  They have been saying that since 2010, and haven't changed their tune.  Its coming.  Every dinarian had better have an exchange plan that is based on logic, not koolaide.  Do your own research, don't listen to gurus.  When they RD, the clock starts ticking for the two year redemption window. Unless you live in iraq, you will be at the mercy of websites.  And there aren't enough of them to service all of you. 

[SnowGlobe7]

And the topic was??

 

Shamwows...or slapchops.

[sportfisher]

If they change the face value of a dinar note from 25k note to a 25 note without changing the foriegn exchange rate , then it's a redenomination

So if the dinar gets stronger by changing the face value of the dinar then it's not a redenomination its a revaluation

But if the foriegn exchange rate stays at 1166 after zero deletion

Then its a redenomination

the exchange rate would change in a RD also.

[dontlop]

TV dinners meat made out of pink slime

Shaped into Salsbury steak and meatloaf

Hey it all turns brown when ya cook it and bury it in gravy

http://m.youtube.com/watch?v=dCqKl4Q3hW4

the exchange rate would change in a RD also.

Ok

But I'm not going that route

I'm sticking with my guns

If the exchange rate changes then its a revaluation

If it doesn't then its redenomination

If the price of goods and products change its a revaluation

[dontlop]

Ya just got to google Turkish lira revaluation

And pick where you want to start reading

They did change their currency and the currency code

While they were in the middle of changing the exchange rate and the costs of goods and services

It's all part of revaluation

Iraq may just keep its currency code IQD

Turkey had its currency y code listed what a year before the revaluation of the lira ?

Swift something the listed it a year in advance

I don't think Iraq has anything listed to be deleting zeros next month

Just some whacky news out of Iraq , same story's for the last 5 years about deleting zeros that year

Geez that will keep speculators away

At least the rich guys who don't risk their money

Heck us small guys won't hurt them

A redenomination is where you change the face value of currency but keep the same foriegn exchange rate

That's the way it is

Ya can't change it

If the exchange rate is changed even with adding smaller notes

Then its a revaluation

Revaluation is were prices of goods change

[ewingm]

Currently  a  25,000 dinar note equals $23.45 US dollars.  After a three zero lop, a 25 dinar note will equal the exact same amount  -   $23.45 US dollars.  That breaks down to 1 dinar equaling

93 cents.  I believe the CBI will then do a 7 cent  revalue to bring the dinar to 1 to 1 with the US dollar.  That makes the street business in iraq much easier.  The problem with a Redenomination involving a three zero lop, is that it is very bad for dinarians.  You instantly lose your millionaire "dreams" AND you lose more money in currency exchange, if you can even do it, through the websites.  Unless you completely deny the possibility of an RD, you should be making your plans NOW, on how to save your money.

[keepmwlknfny]

Ya just got to google Turkish lira revaluation

And pick where you want to start reading

They did change their currency and the currency code

While they were in the middle of changing the exchange rate and the costs of goods and services

It's all part of revaluation

Iraq may just keep its currency code IQD

Turkey had its currency y code listed what a year before the revaluation of the lira ?

Swift something the listed it a year in advance

I don't think Iraq has anything listed to be deleting zeros next month

Just some whacky news out of Iraq , same story's for the last 5 years about deleting zeros that year

Geez that will keep speculators away

At least the rich guys who don't risk their money

Heck us small guys won't hurt them

A redenomination is where you change the face value of currency but keep the same foriegn exchange rate That's the way it is

Ya can't change itIf the exchange rate is changed even with adding smaller notes

Then its a revaluation

Revaluation is were prices of goods change

So the Turkish lira revalued? Hahaha tell me then how anyone could have made money off thay since it was such a HUGE revaluation.

[ewingm]

Instead of all the dinarian topics like "what are you going to do with the RV money" or "where are we all going to celebrate", I would like to see some saner discussion on the "what ifs" of this speculation.  Such as "what do we do if it does Redenominate"  Its sad to me that so many people only want to talk about the koolaide and not the reality of this.

[caz1104]

Semantics.....................If your going to make claims(RD/LOP) that makes you no different than a Guru/Pumper. Its actually that simple. I hear the RD/LOP Grape taste great-lol

I know of very few that enjoy Debbie Downer types of conversation about their investments, but hey its evident LOPsters do. What ever turns you on. Once I invest I don't go looking for negatives (crazy huh), the time to do that is BEFORE!!!! Thus the recommendation that you "Savoirs of the Dinar World" start your own site to educate folks BEFORE they invest(crazy huh). But of course that's not your agenda cause that's to simple of an answer/solution......................priceless

[dontlop]

So the Turkish lira revalued? Hahaha tell me then how anyone could have made money off thay since it was such a HUGE revaluation.

I find you really do not have a clue what your talking about

No wonder you sold your dinar and still hang around here argueing

Ah ha ha ha ha ha

You best start over and learn the deference between rd and rv

Edited May 9, 2014 by dontlop

[dontlop]

If you look it up

Here's reality

If you change the face value of a pegged currency and "do not " change the foriegn exchange rate , then its a redenomination

If you change the foriegn exchange rate , then its a revaluation

All prices will change on goods and services for a revaluation

Keep cryin see where it gets ya

Try twisting it by asking other questions about what did they do or who did what when where or how

Just do some research and quit assuming your the news

Hey keepm

The Iraqi dinar is going to rv and the cbi says they will raise the value

You do know what raising the value means right , if not just look at the Kuwait dinar when it's purchasing power increased by decree of the govt of Kuwait after Kuwait was liberated by the allied forces after desert storm

Just like that from 5 cents to $3.45 per Kuwait dinar over night

15,000 % increase

Do some homework

[keepmwlknfny]

If you look it up

Here's reality

If you change the face value of a pegged currency and "do not " change the foriegn exchange rate , then its a redenomination

If you change the foriegn exchange rate , then its a revaluation

All prices will change on goods and services for a revaluation

Keep cryin see where it gets ya

Try twisting it by asking other questions about what did they do or who did what when where or how

Just do some research and quit assuming your the news

Hey keepm

The Iraqi dinar is going to rv and the cbi says they will raise the value

You do know what raising the value means right , if not just look at the Kuwait dinar when it's purchasing power increased by decree of the govt of Kuwait after Kuwait was liberated by the allied forces after desert storm

Just like that from 5 cents to $3.45 per Kuwait dinar over night

15,000 % increase

Do some homework

So the Turkish lira revalued? Stop dodging the questions. Let's hear it Mr expert!

If your gonna call the Turkish lira a revaluation, then how did people make millions? I mean it went from 1.8 million or so lira per USD to 1.8 lira per dollar. So your saying it was a revaluation, then the people of Turkey are billionaires.....

Please explain how you could have made money off the Turkish lira, and why everyone else in the financial world including the govt of Turkey themselves, call it a redenomination.

The class is eager to hear your teachings......