magawatt Posted October 20, 2014 Report Share Posted October 20, 2014 DEB45..........At the moment ........1 Iraqi Dinar = 0.00086 per US Dollar , or in other words........... it's worthless currency as far as us investors are concerned. Delete the zero's and we have an instant value change from worthless currency to .86 cents per 1 USD. Ex: .86 x 25,000 = 21,500 USD The other scenario would be to leave the Zero's and revalue the currency.........which leaves us with the million dollar question of "what's the rate going to be" ? This is my understanding of the two scenarios ............whether they are right or wrong is yet to be determined. :salute: If .86 IDQ= 1 USA THEN 1 IDQ = 1.16 USA 25000 IDQ = 29000 USA Happy Days 6 Link to comment Share on other sites More sharing options...
NoviceInvestor Posted October 20, 2014 Report Share Posted October 20, 2014 Next year!!!! And I thought I could retire in time for Christmas .... Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted October 20, 2014 Report Share Posted October 20, 2014 What is the latest MO.......a number since Maliki left? If .86 IDQ= 1 USATHEN 1 IDQ = 1.16 USA25000 IDQ = 29000 USAHappy Days Oh If you could only be right my friend....I love your math!!! 2 Link to comment Share on other sites More sharing options...
rockfl9 Posted October 20, 2014 Report Share Posted October 20, 2014 CBI can raise the value without GOIs permission but they can not issue new lower denoms without GOIs approvalNot true. The MOF has some control of the CBI. That is where the dollars for the auctions come from. So the CBI cannot make a move that would put the economy at risk. Link to comment Share on other sites More sharing options...
Deb45 Posted October 20, 2014 Report Share Posted October 20, 2014 magawatt, I sooooooo hope you're right. I've heard others talk so emphatically as well in the other camp. Link to comment Share on other sites More sharing options...
magawatt Posted October 20, 2014 Report Share Posted October 20, 2014 It's about ratios. If .86 IDQ=1 USD then 1 IDQ= 1.16 USD Now...about next. We've often seen that in Arabinglish "next" sometimes means "this". As in next Sunday would mean this Sunday. Is that the case in this circumstance? Perhaps the "coming days" will tell. 2 Link to comment Share on other sites More sharing options...
Deb45 Posted October 20, 2014 Report Share Posted October 20, 2014 Ok, so with all that said. We can turn in our 25,000 dinar bills for 29,000 USD. right? This is all assuming that the zeros they are referring to are on the rate not the face of the dinar bill. Correct? Sorry to be so thick on this. I'm just getting such mixed information. One comment I saw was saying that our 25,000 dinar note was only going to be worth 25 dinar at the current rate, which doesn't make any sense to me. Of course I don't claim to understand any of it and evidently there are so many different theories on what this means. I won't completely understand it until I see the numbers in my bank account. 4 Link to comment Share on other sites More sharing options...
SocalDinar Posted October 20, 2014 Report Share Posted October 20, 2014 (edited) Not true. The MOF has some control of the CBI. That is where the dollars for the auctions come from. So the CBI cannot make a move that would put the economy at risk. You know what I meant Rock. They can increase the value,,,,,, Within reason without the MOF approval. Im not talking 1000000% But they do not need to go to the ministry of finance to raise the value incrementally. The bank is in charge of: Maintaining price stability Implementing monetary policy (including exchange rate policies) Managing foreign reserves Issuing and managing the currency Regulating the banking sector for promoting a competitive and stable financial system When they are talking trillions, they are talking broad money or M4 money. When we read articles about there being less than 4B in circulation, we are talking narrow money or M0-M1. We care about M0. That is how much money is in circulation. I believe when mentioning 4 Billion they are talking about 4 Billion Notes in Circulation. Of course IMO and I'm just an electrical contractor LOL M-1 is over 70 trillion IQD. At least thats what the CBI shows it as on their Website. I for one have always hoped this was false otherwise we do not stand to make much off this endeaver Edited October 20, 2014 by SocalDinar 3 1 Link to comment Share on other sites More sharing options...
rockfl9 Posted October 20, 2014 Report Share Posted October 20, 2014 I believe when mentioning 4 Billion they are talking about 4 Billion Notes in Circulation. Of course IMO and I'm just an electrical contractor LOL M-1 is over 70 trillion IQD. At least thats what the CBI shows it as on their Website. I for one have always hoped this was false otherwise we do not stand to make much off this endeaver . Best i can find is 40T in m1 (yes about 4B notes) and 88T in M2 ...Believe it or not. An RV of even !/10 cent is "difficult" without killing the economy. 1 1 Link to comment Share on other sites More sharing options...
SocalDinar Posted October 20, 2014 Report Share Posted October 20, 2014 (edited) . Best i can find is 40T in m1 (yes about 4B notes) and 88T in M2 ...Believe it or not. An RV of even !/10 cent is "difficult" without killing the economy. That would be about 100 % increase in value but it has been held back for 5 years now so I think they could get there eventually if they dont delete the zeros first. I was thinking the M1 was around 38 Trillion. Have not looked it up for quite some time and just looked it up. Im reading 73 Trillion but could be wrong M1 5,774 10,149 11,399 15,460 21,721 28,190 37,300 51,743 62,474 63,736 64,052 65,025 66,135 69,612 70,053 71,223 70,801 69,547 71,406 71,779 71,798 73,831 74,504 72,413 72,923 73,783 72,042 72,782 73,320 M2 6,953 12,254 14,684 21,080 26,956 34,920 45,438 60,386 72,178 75,466 75,779 77,212 78,465 82,004 82,594 84,175 83,699 82,686 84,670 85,125 85,289 87,679 88,523 86,631 86,975 87,962 86,465 86,581 87,426 Of which: Deposits component of M2 2,323 5,091 5,571 10,112 12,724 16,427 23,662 36,044 43,891 44,872 44,959 46,198 46,354 48,570 48,416 50,038 49,962 49,039 50,555 50,521 50,788 52,684 53,319 52,146 52,533 52,471 50,883 50,171 50,168 http://www.cbi.iq/index.php?pid=Statistics Then go to key finacial indicators Either way its a heck of alot of Dinar out there Edited October 20, 2014 by SocalDinar 2 1 Link to comment Share on other sites More sharing options...
jeepguy Posted October 20, 2014 Report Share Posted October 20, 2014 i think every one knows what I am about to say ! ------------------------------------ 1 2015 -------- for the next chapter Link to comment Share on other sites More sharing options...
boosterbglee Posted October 20, 2014 Report Share Posted October 20, 2014 All this math makes my head hurt!!!! Just do something!! 1 Link to comment Share on other sites More sharing options...
slick Posted October 20, 2014 Report Share Posted October 20, 2014 The new denominations already demonstrate a deletion of zeros. The new 250 dinar note has two zeros removed but the value hasn't changed. The same could be said for the 100 note. So I don't see what all the worry is about. Link to comment Share on other sites More sharing options...
Furbrain Posted October 21, 2014 Report Share Posted October 21, 2014 I remember playing "kick the can" as a kid. I never thought kicking the can would become Iraq's national pastime. Always next year. Link to comment Share on other sites More sharing options...
Hotcurl Posted October 21, 2014 Report Share Posted October 21, 2014 Think about it this way, based upon the exchange rate today; I have 1 IQD and I want $1 US Dollar, the exchange rate today is .00086. or after deleting the 3 zeros from the exchange rate, 1 IQD would .86 cents. I have $1 US Dollar and I want 1 IQD, the exchange rate today is 1,164. thus I would receive 1,164 IQD for $1.00 USD. The debate is endless on which 000's they are talking about. Frankly, I think these types of articles are "smoke and mirrors". We need to play attention to the exchange rate. Deleting the 3 zero's from the current exchange rate appears to be the best for us. If I am wrong, I'll admit it ................... Link to comment Share on other sites More sharing options...
rockfl9 Posted October 21, 2014 Report Share Posted October 21, 2014 The new denominations already demonstrate a deletion of zeros. The new 250 dinar note has two zeros removed but the value hasn't changed. The same could be said for the 100 note. So I don't see what all the worry is about. The remove 3 zeros Is dinar speak. THINK divide by 1000. A million dinar becomes 1000 dinar AND the value doesn't change.NO GAIN. IF you cant sell a total loss! Think about it this way, based upon the exchange rate today; I have 1 IQD and I want $1 US Dollar, the exchange rate today is .00086. or after deleting the 3 zeros from the exchange rate, 1 IQD would .86 cents. I have $1 US Dollar and I want 1 IQD, the exchange rate today is 1,164. thus I would receive 1,164 IQD for $1.00 USD. The debate is endless on which 000's they are talking about. Frankly, I think these types of articles are "smoke and mirrors". We need to play attention to the exchange rate. Deleting the 3 zero's from the current exchange rate appears to be the best for us. If I am wrong, I'll admit it ................... Deleting 3 zeros means from the face value , always has been in banking circles. Strangely ? you are right if you have 1164 dinar The ICB will give you a USD? 2 2 Link to comment Share on other sites More sharing options...
Deb45 Posted October 21, 2014 Report Share Posted October 21, 2014 I'm drooling now at this point. Link to comment Share on other sites More sharing options...
iamtheeggman Posted October 21, 2014 Report Share Posted October 21, 2014 Hey rockfl9 are you keepem in disguise? Sure sounds like him 3 Link to comment Share on other sites More sharing options...
NoviceInvestor Posted October 21, 2014 Report Share Posted October 21, 2014 I remember playing "kick the can" as a kid. I never thought kicking the can would become Iraq's national pastime. Always next year.[/quote How true .. The goal is on a roller that's always being moved forward. Link to comment Share on other sites More sharing options...
Hotcurl Posted October 21, 2014 Report Share Posted October 21, 2014 The bottom line is; It's all about the Exchange Rate ! It doesn't matter if you are going from the IQD into Euro's, US Dollar, British Pound, Canadian Dollar, UAE Durham or Mexican Peso. It's still all about the Exchange Rate. The LOPsters say the 3 zero will come off the printed currency thus a 25,000 IQD note becomes 25 IQD note and perhaps they are correct, no telling until the event happens. And the value of a 25 IQD note then ? well, we are back to the Exchange Rate ! 1 Link to comment Share on other sites More sharing options...
chinadawg Posted October 21, 2014 Report Share Posted October 21, 2014 THE ARTICLE said next year............I believe the islamic new year starts oct 24th............I'm still feeling good about OCTOBER. 2 Link to comment Share on other sites More sharing options...
RVWITHME Posted October 21, 2014 Report Share Posted October 21, 2014 When they are talking trillions, they are talking broad money or M4 money. When we read articles about there being less than 4B in circulation, we are talking narrow money or M0-M1. We care about M0. That is how much money is in circulation. Thanks Trin, now I'm going to be looking at nothing but M4 from here on out cuz I needz me sum Broad money... Link to comment Share on other sites More sharing options...
Boozer Posted October 21, 2014 Report Share Posted October 21, 2014 Delete the 0s next year , How many times have we heard this ? Link to comment Share on other sites More sharing options...
easyrider Posted October 21, 2014 Report Share Posted October 21, 2014 (edited) THE ARTICLE said next year............I believe the islamic new year starts oct 24th............I'm still feeling good about OCTOBER. correct they go off the gregorian calendar. The islamic year starts in the next few days. No where does it say 2015. Edited October 21, 2014 by easyrider 3 Link to comment Share on other sites More sharing options...
jeepguy Posted October 21, 2014 Report Share Posted October 21, 2014 mmmmmmmmm if you guys are correct on the new year in October , a beer for you folks , that will be fine by me ! so do they take another vacation , for the new year , a great time tooo -------> feast 1 1 Link to comment Share on other sites More sharing options...
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