Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Economist: deletion of zeros from the currency will reduce the dollar traded in the local market


Recommended Posts

I don't think Iraq really knows what's best for itself anymore…

 

 

I highly doubt that. They have a swath of global financial and economic experts in the World Bank and the U.S. to guide them.

 

He's right about one thing and that is the Dinar needs to be worth something substantial for people to dump the U.S. currency in favor of their own.  However, you don't need to be a financial expert with a degree and an opinion to know this. It's basic economics 101 and everyone knows this.

Link to post
Share on other sites
  • Replies 71
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Economist: deletion of zeros from the currency will reduce the dollar traded in the local market Economy and tenders  Since 16.08.2015 at 11:24 (GMT Baghdad) Special - scales News He stressed the

That why we are here.....Because no ONE has proved it is a SCAM.....      

No way they come out less than a dollar... The Dinar has to be equal the dollar or the people will keep using the dollar.

Yes OT... but that's the problem with lopping the three zeros from the notes (as per this article)... not what we want... and not really a good starting point.  According to that formula, they're already at 3:1 ($3 to 1 dinar).  We need the "removal" to be from the decimals, not the paper!  This has been an ongoing contention...  Thank goodness, this article is just an opinion piece!

Correction to my ratio correlation:  3:1 (just triple the existing value), not $3 to 1 dinar, unfortunately!

Edited by Jaxinjersey
Link to post
Share on other sites

Laid Back....

I think I accidentally hit the 'report' button on your post--sorry--not intentional.

What is your interpretation of the 75=25,000 and what do you think the exchange will be under this possible option?

Oh, and what does "om sai ram" mean above your avatar?

Edited by climber7
  • Upvote 1
  • Downvote 1
Link to post
Share on other sites

Laid Back....

I think I accidentally hit the 'report' button on your post--sorry--not intentional.

What is your interpretation of the 75=25,000 and what do you think the exchange will be under this possible option?

Oh, and what does "om sai ram" mean above your avatar?

In this article they're talking about removing the 000 from the note.

25000 note minus 000 = 25dinar and then increasing the value of the dinar to $3

25 x $3 = $75

In this scenario we just triple our initial investment.

I agree with Jaygo. If they want the citizens to start using the dinar, they have to increase the value before deleting the 000 to $1:1 or $1:1+

Dollarize.... Increase exchange rate... Dedollarize

Just my humble opinion.

Om sai ram is a Hindu mantra.

Edited by Laid Back
  • Upvote 4
Link to post
Share on other sites

They would commit political suicide by removing the zeros from the notes. Too many countries hold their currency. They could of done this 10 years ago without economic reform.

POLITICAL SUICIDE? 

 

I think it would be better for them if they just put a gun against there heads and 

 

pulled the trigger themselves. Folks what is becoming clearer every day is the unseen hand

 

behind all this. And it's not for a little matter that so many are involved. 

 

"...  25 dinars Vstsawi of $ 75  this is clearly 3 to 1

 

using the above 1,000,000 DINARS would be worth 3,000,000 DOLLARS

That is correct. And until your post I wasn't going to respond to a subject that is 

 

so far beyond  :deadhorse: ​ But IMHO this is a far more plausible reality than anyone 

 

is willing to admit.  

  • Upvote 1
Link to post
Share on other sites

Dogsurtra

Are you disputing saying the interpretation above by LB and AAANTH is wrong? And if so......you're saying we would only cash in 3,000 for a million dinars,correct?

I'm just verifying......not picking a quarrel

Hi Climber...  we need to read ALL posts in this thread, some of which clarify this.  I don't know why people only latch onto one or two of them!

 

So, unfortunately... yes, 1 million dinar would only be worth about $3,000.00.  They're talking about a 25k note, not a 25 note.

  • Upvote 2
Link to post
Share on other sites

Here is my math on the subject. Where am I wrong?   1,000,000/25000 =  40   physical notes which a lot of us have. 40 X $75 = $3,000   If my math is correct, that ain't anywhere close to a 1 to 1 let alone a 3 to 1. It means that for round figures, those who paid $1,000 for each million dinar will have tripled their investment. Good but not even close to a 1 to 1 reval, or even a 0.50 to 1 reval, we have all been hoping for.

Link to post
Share on other sites

The most logical theory to this artical is skip the zeros off a 25,000 note and then you have a 25 dinar note x 3 there's your 3k per 1 million dinars ...there's no way 1million dinars would be worth 3 million dollars just ain't going to happen.....

  • Upvote 3
  • Downvote 2
Link to post
Share on other sites

Here is my math on the subject. Where am I wrong?   1,000,000/25000 =  40   physical notes which a lot of us have. 40 X $75 = $3,000   If my math is correct, that ain't anywhere close to a 1 to 1 let alone a 3 to 1. It means that for round figures, those who paid $1,000 for each million dinar will have tripled their investment. Good but not even close to a 1 to 1 reval, or even a 0.50 to 1 reval, we have all been hoping for.

That's how I did my math too Kevin.  

 

And actually, if a 25k note is actually worth only $22, then the value conversion to $75 equals 3.4 factor (3.409 x 22 = 75)!  That would make $1000 investment worth $3,409.00 to be more exact.

Link to post
Share on other sites

What Economist Antoine asks for ? And what the Central Bank does . May still yet be completely different things . Just because he is a well known economist does not mean what he speaks of will happen . They have been debating how to proceed for a long period of time .

Link to post
Share on other sites

ole KAP see"s it like this,

 

 

 

8-16-2015   Newshound Guru Kaperoni   Article:  "Economist: deletion of zeros from the currency will reduce the dollar traded in the local market"  Quote:  "He explained that "the largest category of cash is Al25,000 dinars, which is equal to $ 22, in the case of deletion of zeros and converted to 25 dinars Vstsawi of $ 75, this process will give the larger size of the local currency and reduce the use of the dollar in the domestic market."  He wants a $3+ exchange rate.

  • Upvote 1
  • Downvote 1
Link to post
Share on other sites

LGD,

the 25 note they speak of is our 25,000.00 note with the zero's removed.

making our 1.000,000.00 dinar     $ 3.000.00

no, actually it might make their 25k note 25 locally in iraq and then turnning that into $75 is great for us. because we're not in iraq and our notes are NOT in iraq.  our notes would still be worth thier value.  and according to this "economist" it's still coming out to $3.00 to 1 IQD for us.  but he is only an economist.  it's just his opinion.  he isn't the trigger guy. 

Link to post
Share on other sites
Guest
This topic is now closed to further replies.
  • Recently Browsing   0 members

    No registered users viewing this page.




  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.