Deletion of zeros from the Iraqi currency

[unirod]

Hold on it's a play on words here. 40 trillion Dinars is traded in the currency market. That value would equal about 40 Billion USD. We have articles that the CBI stated clearly in years past that 80% of currency traded in the Iraqi market is the USD and not IQD. So it's no wonder they have to print more IQD because they don't have enough clean notes in the first place....IMO

[gixxerfrog]

Dr. Shabibi said "Delete the 3 zero's from the nominal Value not delete the 3 zero's from the notes.

The Nominal Value of one IQD is around .00086 cents, so lets remove the 3 zero's (.86) so .$86 IQD  = $1 Dollar

now after they remove the 3 zero's they revalue to the true value of the IQD.

 

do you have a link/article of him saying that? 

 

i agree with what "NeedRV" says it wouldnt make any sense to print out new 25,000 notes if they are going to delete them anyways.  if they deleted the 3 zeros off the notes what would the 250 notes go to ? ...theres only 1 zero. would it go to just a 25 note, if so, now you got 2 different notes that are = to each other (the 25,000 note and a 250 note).  

[easyrider]

heres my interpretation of deleting or lifting the 3 zeroes which both terms have been used before and actually this theory has been floating around as well:

 

To me this is phasing out the 3 zero notes which is  why they refer to the currency and NOT the value.  So we have seen them in the past say it can take up to 2 years and now recently its 5 years. So as we can see if the truly meant to LOP then that wouldnt take up to 5 years to delete the 3 zeros so this means phasing out the notes. In the U.S we used to have a million dolar note which is actually legal tender till this day if you were to take it into a bank. Also their were thousand dollar notes etc..thatw ere phased out over time, Now we see they are doing a RE-printing of the 3 zero notes now because the notes now are wore and torn from exchanging hands over the years because most iraqis dont deal with banks or atm cards. Most dont even have bank accounts. So they strictly deal with the same old currency after a while it gets torn and needs to be replaced. So, now we know this eliminates the LOP theory because why in the world would they reprint the 3 zeroes if they were just gonna lop anyhow? To me it all boils down to how we are interpreting these articles and in a wait and see mode.

Edited October 22, 2014 by easyrider

[skrappyone]

do you have a link/article of him saying that? 

 

i agree with what "NeedRV" says it wouldnt make any sense to print out new 25,000 notes if they are going to delete them anyways.  if they deleted the 3 zeros off the notes what would the 250 notes go to ? ...theres only 1 zero. would it go to just a 25 note, if so, now you got 2 different notes that are = to each other (the 25,000 note and a 250 note).  

If they deleted the 3 000's off the notes and took the 25,000 note to 25, then a 250 note would go to .25 note like our quarter.  It would be = to one quarter of 1 Dinar.

[chinadawg]

SOME BELIEVE THEY WILL SIMPLY OVER TIME REMOVE THE LARGER NOTES FROM CIRCULATION, i CANNOT SAY I DISAGREE.

 

 

 

I know............I know,,,,,,,,,,some thinks it is goo roo poo poo, but he is no dummy, and is intitled to his opinion.

 

 

Enorrste  Article:  "Deletion of zeros from the Iraqi currency"  ...how can ANYONE be contemplating that they are even considering a LOP?  The simple fact is that a LOP is NOT in the cards.  The IMF has stated quite clearly in the last quarterly update on Iraq that they are quite satisfied with the STABILITY of the dinar over the last several years, and that they look forward to the GRADUAL appreciation of the dinar in the near future.  Turkey LOPped zeros because they had 2000% inflation.  Iraq has about 4% inflation.  The process, and that is what this will be, is one in which, after moving to Article 8 of the IMF charter, Iraq will allow its currency to float.  The opening of its currency to the world, Article 8, will allow two things to happen:  first, the influx of goods and investment into Iraq from the outside; and second, the raise in the value of the dinar. 

 

 

In time, beginning next year (not necessarily January 1, incidentally), it will become necessary to begin removing the large notes from circulation (remove the three zeros) as the VALUE of the dinar rises.  The actual risk here is DEFLATION, rather than INFLATION, because the same dinar will become more and more valuable (the opposite of inflation).  Removal of the large notes from circulation will reduce the money supply gradually as the value rises, thereby reducing the risk of deflation, as we know it, and the risk of inflation (too many dinars) as the Iraqi's know it (too much money).  

 

  

 

 

[easyrider]

If they deleted the 3 000's off the notes and took the 25,000 note to 25, then a 250 note would go to .25 note like our quarter.  It would be = to one quarter of 1 Dinar.

deleting the 3 zeroes off the notes solely doesnt reduce the money supply this has been brought up in old articles by economists of Iraq.  The deletion of zeroes is referring  to the phasing out of the current 3 zero notes in circulation over a period of 5 years or more.  This has took place in the U.S long ago with our money. This is all my own opinion and others that have studied this process.  Again we shall see whos right in the end.

Edited October 22, 2014 by easyrider

[chinadawg]

by easyrider,

 

 

The following dates on the Gregorian calendar correspond to the Islamic new year:

Islamic Year Gregorian Date 1430 AH 28/29 December 2008 1431 AH 17/18 December 2009 1432 AH 7/8 December 2010 1433 AH 26/27 November 2011 1434 AH 14/15 November 2012 1435 AH 4/5 November 2013 1436 AH 24/25 October 2014 1437 AH 13/14/15 October 2015
 

Islamic Year Gregorian Date 1430 AH 28/29 December 2008 1431 AH 17/18 December 2009 1432 AH 7/8 December 2010 1433 AH 26/27 November 2011 1434 AH 14/15 November 2012 1435 AH 4/5 November 2013 1436 AH 24/25 October 2014 1437 AH 13/14/15 October 2015

 

(that about sums it up.)
 

[skrappyone]

deleting the 3 zeroes off the notes solely doesnt reduce the money supply this has been brought up in old articles by economists of Iraq.  The deletion of zeroes is referring  to the phasing out of the current 3 zero notes in circulation over a period of 5 years or more.  This has took place in the U.S long ago with our money. This is all my own opinion and others that have studied this process.  Again we shall see whos right in the end.

I agree.  I was just answering the question someone else posted on "what would the 250 note be if they moved the 3 000's?".  I have no opinion anymore on what they are thinking or going to do, lol.  I ain't sure they even know.  It's all speculation and I am glad I'm on the ride no matter which way it goes.

Edited October 22, 2014 by skrappyone

[jv1054]

Is this good or bad?  I'm so confused and freaking out. Explanation please.

ME TOO

[chinadawg]

just sit tight," the coming days" will be here before you know it.

[SocalDinar]

Where is shabibi these days?

Last I heard was Switzerland but that was at least 8 months ago

[Texas1]

Last I heard was Switzerland but that was at least 8 months ago

boyhowdy, if I was Shabibbi and had sat in on all of those rv meetings throughout the years I prolly would have bought as much dinar as I quite possibly could have, moved to Switzerland and kept buying and buying and buying and buying dinar..........

wonder if he actually has any

[Doctor Smith]

Until they actually do something. This is nothing more than another round of BS. You guys are getting all worked up over nothing. They know nothing more than you. Just a silly story.

 

This RV thing is on the back burner for me. Got bigger fish to fry.