rockfl9 Posted February 26, 2019 Report Share Posted February 26, 2019 After a LOP the new dinar will have an exchange rate of $0.86 , higher than 97% of all currencies! An Iraqi could boast of having one of the worlds strongest currencies. The exchange would be 1.18 dinar / USD. Perhaps that is what the Ministry of plannings' report was counting on at the time. It could also lead to metal coinage. When a currency issues coins it is usually an expectation of long term rate stability. A LOP is a proved , managed process with NO surprises. Nobody gains or looses . Some will say if a LOP is good , why haven't they done it . Truth is Shabibbi knew the 2003 issue would need to be refreshed ,he wanted to but could not get thru the legalities in time. He got removed and the new Gov didnt get on board with the plan before the drop in oil made it low priority. The result was simply adding more of the 3 zero notes in 2012. Now even those notes are getting worn out. It is decision time again. The problem is cost , at least 35 million dollars. There is also the question of the Kurdish language. The Arabs do not want to do that . The Kurds will insist. 1 2 2 Quote Link to comment Share on other sites More sharing options...
rockfl9 Posted February 26, 2019 Author Report Share Posted February 26, 2019 Re: Shabibbi at the Bank of England.... FYI The BOI was tasked with restoring the Iraqi Banks by the CPA .. Shabibbi was their choice at the time So they know him well.. Obviously an opportunity for him to retire into a more hospitable environment.. 1 2 Quote Link to comment Share on other sites More sharing options...
rockfl9 Posted March 2, 2019 Author Report Share Posted March 2, 2019 With a LOP the purchasing power of the Iraqi Dinar ( or whatever they will call it ) will go from .00086 to .86 That is a great increase .. All Iraqis' will be happy. No Iraqi will end up loosing any value ! The CBI will get this done with only the cost of printing . About $35Mil and they could do it in stages. However if they do I don't think it could be traded outside the country until all the old Dinar has been recovered. They know a lot of IQD was destroyed, stolen or smuggled out of the country in the last 15 years . With a RD they wipe the slate clean. 2 Quote Link to comment Share on other sites More sharing options...
GregHi Posted March 2, 2019 Report Share Posted March 2, 2019 The only reason I rule out a Lop is simply because since it’s so easy to do, why haven’t they already done it. They’ve had 15 years to lop their currency instead of planning out a way to logistically and securely RI or RV.. I know these people are slow at getting things done, but if it takes these guys 15 years to simply lop their currency, then there is no hope for them at all. Lol 1 1 3 Quote Link to comment Share on other sites More sharing options...
EverCurious452 Posted March 2, 2019 Report Share Posted March 2, 2019 1 hour ago, GregHi said: The only reason I rule out a Lop is simply because since it’s so easy to do, why haven’t they already done it. They’ve had 15 years to lop their currency instead of planning out a way to logistically and securely RI or RV.. I know these people are slow at getting things done, but if it takes these guys 15 years to simply lop their currency, then there is no hope for them at all. Lol What we know for sure is 1) that a LOP is possible (whether or not Iraq will ever execute one is anyone's guess) and 2) that raising the value if a pegged currency like the IQD substantially beyond what can be supported by the central bank's foreign reserves and the money supply (e.g. 1000x as many here hope for) is not possible. 1 2 Quote Link to comment Share on other sites More sharing options...
Markinsa Posted March 3, 2019 Report Share Posted March 3, 2019 30 minutes ago, EverCurious452 said: 2) that raising the value if a pegged currency like the IQD substantially beyond what can be supported by the central bank's foreign reserves and the money supply (e.g. 1000x as many here hope for) is not possible. Then how do you explain the value of the USD? . 1 Quote Link to comment Share on other sites More sharing options...
EverCurious452 Posted March 3, 2019 Report Share Posted March 3, 2019 59 minutes ago, Markinsa said: Then how do you explain the value of the USD? . The USD is not a pegged currency, it floats. Its value (in other currencies or apples or cars or whatever) is what those wishing to buy USD with those currencies (or things) are willing to pay. The Fed does not set the rate. The IQD IS pegged (because their main goal of the CBI is stability and if the IQD were allowed to float it would go up and down with oil prices and terror attacks and so on and that is very hard on an economy). When the CBI sets a rate they are only setting the amount that the CBI itself will pay. Since they are the source of USD for exchanges (via downstream banks) the rate they set flows down everywhere else. They can only set that rate, to a value that they can support or they would run out of USD nearly instantly. Thus a rate vastly different (there is of course some wiggle room but we're talking order of magnitude here) from the ratio of foreign reserves to IQD in M1, is not possible. 1 3 Quote Link to comment Share on other sites More sharing options...
soccercrazy Posted March 3, 2019 Report Share Posted March 3, 2019 Jmo...a loop or rd is still a possiblelity, but compare it with the situation with my country which also want to lop/rd our currency...iraq is in different situation. Here, our currency is getting worse by the time..in 2009 1 usd is around 9-10'000 rupiah....now in 2019 is around 14'000, so thats why the government made a rd plan ( and they do say thats its a long time plan and execution) Because a rd/loop is a econimic lost situation for a country, and yes our currency is a losser one, but the situation with iraq is different for me, they can make their currency go stronger if u follow it from 2003 - 2006/7, and stabilized it from there until now (about 10 years) beyond everything that happens with their country, so yes they are a crumbs currency compared to us dollar, but its still a strong currency with their performance so far I my self is more affraid with "nothing need to change" situation like adam said, in that case we will wait for long time to forever, but considering that iraq is most likely an imported goods type of country (they only export oil as their main income) aso they need their currency valued higher than this, so im still get a hope in this ride Jmo Sorry for the english 🙏 2 2 Quote Link to comment Share on other sites More sharing options...
caz1104 Posted March 4, 2019 Report Share Posted March 4, 2019 On 3/2/2019 at 9:09 PM, soccercrazy said: Jmo...a loop or rd is still a possiblelity, but compare it with the situation with my country which also want to lop/rd our currency...iraq is in different situation. Here, our currency is getting worse by the time..in 2009 1 usd is around 9-10'000 rupiah....now in 2019 is around 14'000, so thats why the government made a rd plan ( and they do say thats its a long time plan and execution) Because a rd/loop is a econimic lost situation for a country, and yes our currency is a losser one, but the situation with iraq is different for me, they can make their currency go stronger if u follow it from 2003 - 2006/7, and stabilized it from there until now (about 10 years) beyond everything that happens with their country, so yes they are a crumbs currency compared to us dollar, but its still a strong currency with their performance so far I my self is more affraid with "nothing need to change" situation like adam said, in that case we will wait for long time to forever, but considering that iraq is most likely an imported goods type of country (they only export oil as their main income) aso they need their currency valued higher than this, so im still get a hope in this ride Jmo Sorry for the english 🙏 No worries your guess/opinion is as good as anyones Quote Link to comment Share on other sites More sharing options...
caz1104 Posted March 4, 2019 Report Share Posted March 4, 2019 On 3/2/2019 at 5:06 PM, GregHi said: The only reason I rule out a Lop is simply because since it’s so easy to do, why haven’t they already done it. They’ve had 15 years to lop their currency instead of planning out a way to logistically and securely RI or RV.. I know these people are slow at getting things done, but if it takes these guys 15 years to simply lop their currency, then there is no hope for them at all. Lol Of course you not being a Monday Morning Foreign Currency Expert like EVERY LOPster known to man makes anything & everything you put forth utterly nonsense...shame on you 1 1 Quote Link to comment Share on other sites More sharing options...
EverCurious452 Posted March 5, 2019 Report Share Posted March 5, 2019 (edited) 1 hour ago, Botzwana said: I love how much of a coward Sam I Am is by not coming here anymore. He loves being at iqdcalls because he cannot be banned there. How does not wanting to post somewhere where your posts are at best not welcome, if not outright banned, make him a coward? If you want to talk cowardice, how about those who have negged my posts in this thread (that only stated the facts around how the CBI operates) instead of actually responding. Edited March 5, 2019 by EverCurious452 1 3 Quote Link to comment Share on other sites More sharing options...
EverCurious452 Posted March 6, 2019 Report Share Posted March 6, 2019 (edited) 51 minutes ago, Botzwana said: I dont know who negged ya. I barely come down here. I was not implying that you knew or did so yourself, apologies if I gave that impression. You did not answer the question I asked about your assertion that Sam I Am is coward for not posting here (of course you are under no obligation to do so). Edited March 6, 2019 by EverCurious452 Quote Link to comment Share on other sites More sharing options...
caz1104 Posted March 6, 2019 Report Share Posted March 6, 2019 19 hours ago, EverCurious452 said: I was not implying that you knew or did so yourself, apologies if I gave that impression. You did not answer the question I asked about your assertion that Sam I Am is coward for not posting here (of course you are under no obligation to do so). So giving ones opinion is also only allowed for LOPsters - smh......not only is he a coward (imo)...he's also a little worm that thrives on presenting negative information about folks he doesn't even know....by you questioning others opinions about Sam I'm Not, my opinion he's either a friend of yours or your messiah....which? 1 Quote Link to comment Share on other sites More sharing options...
caz1104 Posted March 6, 2019 Report Share Posted March 6, 2019 On 3/5/2019 at 5:39 PM, Botzwana said: I love how much of a coward Sam I Am is by not coming here anymore. He loves being at iqdcalls because he cannot be banned there. 1 Quote Link to comment Share on other sites More sharing options...
EverCurious452 Posted March 6, 2019 Report Share Posted March 6, 2019 21 minutes ago, caz1104 said: So giving ones opinion is also only allowed for LOPsters - smh......not only is he a coward (imo)...he's also a little worm that thrives on presenting negative information about folks he doesn't even know....by you questioning others opinions about Sam I'm Not, my opinion he's either a friend of yours or your messiah....which? Where did I every say Botswana (or anyone else) can not give their opinion? I merely asked why he thought what he thought? I have had some conversations with Sam I Am, nothing more than that. Quote Link to comment Share on other sites More sharing options...
rockfl9 Posted March 7, 2019 Author Report Share Posted March 7, 2019 On 3/2/2019 at 9:09 PM, soccercrazy said: Jmo...a loop or rd is still a possiblelity, but compare it with the situation with my country which also want to lop/rd our currency...iraq is in different situation. Here, our currency is getting worse by the time..in 2009 1 usd is around 9-10'000 rupiah....now in 2019 is around 14'000, so thats why the government made a rd plan ( and they do say thats its a long time plan and execution) Because a rd/loop is a econimic lost situation for a country, and yes our currency is a losser one, but the situation with iraq is different for me, they can make their currency go stronger if u follow it from 2003 - 2006/7, and stabilized it from there until now (about 10 years) beyond everything that happens with their country, so yes they are a crumbs currency compared to us dollar, but its still a strong currency with their performance so far I my self is more affraid with "nothing need to change" situation like adam said, in that case we will wait for long time to forever, but considering that iraq is most likely an imported goods type of country (they only export oil as their main income) aso they need their currency valued higher than this, so im still get a hope in this ride Jmo Sorry for the english 🙏 The need to RD is not based simply on the exchange rate. To lift the zeros and then have to put more zeros in because the economy is not stable solves nothing. There needs to be signs of sustained natural stability. A country can function OK with multi-zero currency ,it is a matter of choice .. Although it can be messy with high value purchases in cash. If a county can begin using plastic (CC and debit cards) it would not need to RD the currency . The problem is the small value notes need to be replaced at higher frequency . the solution is coinage , but it is awkward to place a lot of zeros on them . 1 1 Quote Link to comment Share on other sites More sharing options...
rockfl9 Posted March 9, 2019 Author Report Share Posted March 9, 2019 On 3/2/2019 at 9:09 PM, soccercrazy said: Jmo...a loop or rd is still a possiblelity, but compare it with the situation with my country which also want to lop/rd our currency...iraq is in different situation. Here, our currency is getting worse by the time..in 2009 1 usd is around 9-10'000 rupiah....now in 2019 is around 14'000, so thats why the government made a rd plan ( and they do say thats its a long time plan and execution) Because a rd/loop is a econimic lost situation for a country, and yes our currency is a losser one, but the situation with iraq is different for me, they can make their currency go stronger if u follow it from 2003 - 2006/7, and stabilized it from there until now (about 10 years) beyond everything that happens with their country, so yes they are a crumbs currency compared to us dollar, but its still a strong currency with their performance so far I my self is more affraid with "nothing need to change" situation like adam said, in that case we will wait for long time to forever, but considering that iraq is most likely an imported goods type of country (they only export oil as their main income) aso they need their currency valued higher than this, so im still get a hope in this ride Jmo Sorry for the english 🙏 Obviously since the Rupiah rate has been increasing the economy has suffered some inflation , but 40% over 10 years is not too bad. We really dont know the real condition of Iraq because the CBI has been using the "auction" to maintain the rate artificially .. However the real cost of imported goods must have increased in the last 5-6 years at least 20%. It has to show up in the "street rate" sometime .It may be that What is published as that rate is also being manipulated. 1 1 Quote Link to comment Share on other sites More sharing options...
SocalDinar Posted March 19, 2019 Report Share Posted March 19, 2019 Who the heck is Sam I am? The Dr Seuss character from Green eggs and ham? Hope everyone is doing well. 2 Quote Link to comment Share on other sites More sharing options...
EverCurious452 Posted March 20, 2019 Report Share Posted March 20, 2019 (edited) 46 minutes ago, SocalDinar said: IQS ndWho the heck is Sam I am? The Dr Seuss character from Green eggs and ham? Hope everyone is doing well. Hey SD. Sam I Am was/is the username of someone who posted about the dinar and the impossibility of an RV. I think he did post here for a time, but eventually moved to a site he co-develops with Marcus Curtis (links to other dinar sites appear to be off limits so you'll have to google for it if you want to read his old stuff), though I don't think it's been updated in quite a while. I'm doing great, hope the same goes for you. Edited March 20, 2019 by EverCurious452 Quote Link to comment Share on other sites More sharing options...
rockfl9 Posted March 20, 2019 Author Report Share Posted March 20, 2019 WE may have been sidetracked from the original subject so let me reiterate, although it will not set well with most (?) Dinarians. The CBI wants to remove 3 zeros from the face of the currency . Actually move the decimal point 3 places to the LEFT. 1000 becomes 1 , 500 becomes 0.5 etc. This will reduce the volume of dinar notes but not the effective VALUE in circulation. The effect will move the decimal on the exchange rate 3 places to the RIGHT. Also removing 3 zeros . Thus .00086 becomes .86 OR 86 cents per dinar. . The dinar (IQD) NOW does become one of the strongest currencies in the world. The Iraqis' want that. The CBI doesn't need to add any hard currency to the reserves. The CBI likes that. Going along with that ( It may require a law be enacted in advance) , ALL prices will be adjusted by moving their decimal points 3 places to the LEFT. Something that cost 1000 IQD will now be priced at 1 IQD. Curbing inflation and price gauging . Iraqis" will like that also, BUT this may be the one thing they might not understand and believe. . It is a central bank operation that has taken place with dozens on currencies over the last 50 years. 1 1 Quote Link to comment Share on other sites More sharing options...
caz1104 Posted March 20, 2019 Report Share Posted March 20, 2019 (edited) 19 hours ago, SocalDinar said: Who the heck is Sam I am? The Dr Seuss character from Green eggs and ham? Hope everyone is doing well. Hey SD Sam I Am....is a one time believer under one name, then changed his name when he became a LOPster (chapter one in LOPsters for dummies handbook - change name to become more believable, instead of disgruntled ). He opened up a website trashin GURUS, telling personal info about them. Which in itself is not a bad thing if it proved they were crooks. He now provides info & opinions....a lot like the GURUS he dispises (chapter two in LOPsters for dummies handbook - provide own opinons to lure the gullible ). He also alot like other LOPsters is NOW a Monday morning foreign currency expert (chapter three in LOPsters for dummies handbook- create street cred by making people think your more than you are ). Hope all is well with you Edited March 20, 2019 by caz1104 1 1 1 Quote Link to comment Share on other sites More sharing options...
caz1104 Posted March 20, 2019 Report Share Posted March 20, 2019 (edited) 7 minutes ago, caz1104 said: Hey SD Sam I Am....is a one time believer under one name, then changed his name when he became a LOPster (chapter one in LOPsters for dummies handbook - change name to become more believable, instead of disgruntled ). He opened up a website trashin GURUS, telling personal info about them. Which in itself is not a bad thing if it proved they were crooks. He now provides info & opinions....a lot like the GURUS he dispises (chapter two in LOPsters for dummies handbook - provide own opinons to lure the gullible ). He also alot like other LOPsters is NOW a Monday morning foreign currency expert (chapter three in LOPsters for dummies handbook- create street cred by making people think your more than you are ). He is highly regarded in the LOPster world, he even has suggested a monument in his likeness should be carved out on Mt. Rushmore. A bit extreme...but he really likes himself some himself Hope all is well with you Edited March 20, 2019 by caz1104 1 1 Quote Link to comment Share on other sites More sharing options...
EverCurious452 Posted March 20, 2019 Report Share Posted March 20, 2019 (edited) 3 hours ago, rockfl9 said: The CBI wants to remove 3 zeros from the face of the currency . Actually move the decimal point 3 places to the LEFT. 1000 becomes 1 , 500 becomes 0.5 etc. This will reduce the volume of dinar notes but not the effective VALUE in circulation. The effect will move the decimal on the exchange rate 3 places to the RIGHT. Also removing 3 zeros . Thus .00086 becomes .86 OR 86 cents per dinar. . The dinar (IQD) NOW does become one of the strongest currencies in the world. The Iraqis' want that. The CBI doesn't need to add any hard currency to the reserves. The CBI likes that. Going along with that ( It may require a law be enacted in advance) , ALL prices will be adjusted by moving their decimal points 3 places to the LEFT. Something that cost 1000 IQD will now be priced at 1 IQD. This is not how a redmonimation works. The IQD exchange rate or prices expressed in IQD will NOT change. A NEW currency will be issued. Say its called the IQN (for new dinar). It will be a different color and slightly different size etc so the IQD and IQN will NOT be confused. To delete 3 zeros, the IQN will be defined as a 1 IQN = 1000 IQD. For a while both currencies will float around, but the government will issue payroll in IQN which will cause IQN to be pretty dominant. At some point merchants will no longer be required to accept the old (IQD) currency but banks likely will do so (or at least large banks) for a long time. Just how these durations or periods would be defined, I have no idea, or even if Iraq will redenominate or not. But if they do, it will not change the rate for the existing currency. It will introduce a new currency. Also "strength" for a currency is determined primarily by stability not its exchange rate. That is why rate stability is the CBI's primary goal (as stated in their docs). Edited March 20, 2019 by EverCurious452 Quote Link to comment Share on other sites More sharing options...
caz1104 Posted March 21, 2019 Report Share Posted March 21, 2019 LOL red rubies.......book sales must be down 1 1 Quote Link to comment Share on other sites More sharing options...
SocalDinar Posted March 21, 2019 Report Share Posted March 21, 2019 22 hours ago, caz1104 said: Hey SD Sam I Am....is a one time believer under one name, then changed his name when he became a LOPster (chapter one in LOPsters for dummies handbook - change name to become more believable, instead of disgruntled ). He opened up a website trashin GURUS, telling personal info about them. Which in itself is not a bad thing if it proved they were crooks. He now provides info & opinions....a lot like the GURUS he dispises (chapter two in LOPsters for dummies handbook - provide own opinons to lure the gullible ). He also alot like other LOPsters is NOW a Monday morning foreign currency expert (chapter three in LOPsters for dummies handbook- create street cred by making people think your more than you are ). Hope all is well with you Thanks Caz. Not sure why someone negs you for telling it like it is. I gave you an Emerald to even you out.. 1 1 Quote Link to comment Share on other sites More sharing options...
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