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Go Iraq Part 4


6ly410
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BL, they already approved the plan of revaluing ...it needs the guardian council approval is all....no need to wait for Sunday cause they already set the plan of withdrawing the old notes with new notes...just in a matter of days now of when they are going to start.

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9 minutes ago, Miamiheatnic said:

I'm just curious why Adam said this thread was going to be locked soon.  With the high post count?  Are we doing something wrong?  This is a great place to hang out and talk and share rumors and thoughts.  It's like a big chatroom!

 

No.....we r not doing anything wrong...

 

This is from Adam's Chat last week....

"One more thought before I wrap this up - a lot of our news threads here have exceeded thousands of posts. Those threads will be locked (mods, please help me out here) in an effort to bring the most current news to the attention of those of us interested in reading. If you see a locked thread in the news sections, this does not mean we don't want to continue the conversation! It just means it's time to start a new thread on the topic."

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8 minutes ago, navira said:

BL, they already approved the plan of revaluing ...it needs the guardian council approval is all....no need to wait for Sunday cause they already set the plan of withdrawing the old notes with new notes...just in a matter of days now of when they are going to start.

Navira.... I'm alluding to the possibility of seeing the rates showing from both countries at the same the time .......And thanks for your posts 

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Me too BL, let's hope Iraq will follow...they are blood brothers..cheers....notice they dont harm Iraq when they are going to pass the strait of harmus...if it was someone else...u can bet they will stop them...they don't like saudi...just

saying

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7 minutes ago, navira said:

If u notice...both brothers have been flaunting for years of deleting zeroes at same time...iran has finally made a move...u can bet your bottom dollar iraq will follow suit..cheers bros.

They said that? 👌🏽👌🏽

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As much as I love hopium, it's my opinion we should try to at least keep it real.  So in that spirit, I hope everyone will take a second look at Iran's currency.  Iran is "lopping" off 4 zeros from its currency because of inflation.  That is what countries do (Venezuela did it several times) to try to cope with runaway inflation.  Technically, you can say that's a revaluation because the value is being adjusted, but it's not adding more purchasing power to the rial/toman in Iran's case (though that will happen when Iraq RVs).  Iran is doing this to simplify things because the rial has lost so much purchasing power they have to take wads and wads of it to buy things.  Also, they want to revert to the toman because its confusing to foreigners to use both rial and toman, so they're taking advantage of changing the value to do that.  And just as an fyi, if the government approves this (which I assume is what is set to happen Sunday), they want this to start on August 12 according this this article.  Below I've copied an article about Iran's lopping off the 4 zeros that explains what is happening well. https://www.timesofisrael.com/sanctions-hit-iran-to-rename-plunging-currency-cut-off-zeros/

 

I also want to point out that, just as Navira said, I believe Iraq's RV will happen when least expected.  When any country is adding value to their currency they never annouce the timing in advance.  They cannot just say, for instance, "starting on X day, our currency will be worth 10 times more".  If they did, everyone who heard about this would go hog wild trying to buy, bribe, cheat and steal to get as much of that currency as they possibly can. It'd be is a disaster.  So, knowing that, it makes it all the more clear that Iran's "lop" is not going to add purchasing value to their currency - and it's not tied to Iraq's RV that will be doing that. 

 

Nonetheless, this does NOT mean Iraq is not about to RV, just that what Iran is doing with their rial has nothing to do with Iraq  Iran is simply trying to survive US sanctions as best they can.  But there is still plenty of reason to be excited about Iraq's RV though.  Just look at how fast and how much they have accomplished.  Sure the government is off for this month, but, think about this:  since Iraq will want to RV when it's least expected, with the government off, it could be the perfect time!  And last but not least, from the woo woo side, there is a thread about dreams in the Opinions section here and KeyLime was told years ago in a dream that the RV would happen in August.  Not long ago, he/she dreamt about the number "19" and thinks that it means it's finally gonna happen this year (2019).  Also, one of our top "bros" here, also had similar dream about the month of August.  So pesonally, I don't think we even need any false hopium from Iran's lop!!

 

Sanctions-hit Iran to rename its plunging currency, cut off zeros 

 

TEHRAN, Iran — The government in sanctions-hit Iran on Wednesday approved a plan to remove zeros from the rial and rename the currency — something its people have long been doing to simplify transactions.

“The cabinet today agreed on a bill to eliminate four zeros from the currency and that ‘toman’ will be our national currency,” government spokesman Ali Rabiei told reporters in Tehran.

 

The value of the Iranian rial has hit low after record low since last year.

The currency was trading at about 37,000 to the dollar three years ago, but it slumped to around 180,000 last year.

That was after US President Donald Trump announced the United States was unilaterally withdrawing from the 2015 Iran nuclear deal and reimposing biting sanctions.

At the time, long queues were seen outside exchange offices, before the Iranian government took drastic measures by arresting unlicensed dealers and freezing the accounts of speculators.

Currently the rial is trading at around 120,000 to the US dollar on the street, while the official rate is 42,000.

This means anyone without a bank card has had to virtually abandon coins and carry around thick wads of banknotes in their purses or wallets just to make everyday purchases.

In a bid to simplify transactions, Iranians have long referred to their currency as the toman and chopped off a zero — a unique system that is a source of confusion for foreign visitors.

The Iranian government has now acknowledged this with its latest move, which needs to be forwarded to parliament for final approval.

“This will make the national currency more effective,” said the spokesman Rabiei. “It will be more in line with common practice in society… the rial is not used that much.”

“Coins will once again come into circulation,” he added.

The International Monetary Fund has forecast Iran’s economy to shrink by 6.0 percent this year due to sanctions and rising instability in the Middle East.

 

 

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Iran's inflation rate is at 50 percent or less...that is not a hyper inflation as many would call n compare to Venezuela...no, no, no...these other news are just to cover up the revaluation...their plan years ago was to revalue their currency...I will pull part of that news just a second

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48 minutes ago, navira said:

Me too BL, let's hope Iraq will follow...they are blood brothers..cheers....notice they dont harm Iraq when they are going to pass the strait of harmus...if it was someone else...u can bet they will stop them...they don't like saudi...just

saying

This may be the one time that they follow Iran. :lol:

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I took piece of this news from 3 years ago...Reuters) - Iran plans to revalue its rial tenfold and revert to the currency's old name, the toman, according to a bill approvedon Wednesday by President Hassan Rouhani's cabinet, the official IslamicRepublic News Agency (IRNA) said....this is now.....The Iranian government has approved to revalue its rial tenfold and revert to the currency’s old name, the toman, the Fars news agency reported on Wednesday

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Just now, navira said:

I took piece of this news from 3 years ago...Reuters) - Iran plans to revalue its rial tenfold and revert to the currency's old name, the toman, according to a bill approvedon Wednesday by President Hassan Rouhani's cabinet, the official IslamicRepublic News Agency (IRNA) said....this is now.....The Iranian government has approved to revalue its rial tenfold and revert to the currency’s old name, the toman, the Fars news agency reported on Wednesday

I’m just mad can’t buy it and change it in the US. Was gonna grab some for fun lmao 

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1 minute ago, navira said:

I took piece of this news from 3 years ago...Reuters) - Iran plans to revalue its rial tenfold and revert to the currency's old name, the toman, according to a bill approvedon Wednesday by President Hassan Rouhani's cabinet, the official IslamicRepublic News Agency (IRNA) said....this is now.....The Iranian government has approved to revalue its rial tenfold and revert to the currency’s old name, the toman, the Fars news agency reported on Wednesday

I hope for your sake you are right! All these currencies are speculations so it could be a win. Many who bought Zimbabwe Currency were severely disappointed recently when they went to an rtgs Currency. I don’t believe anyone saw an appreciation. I believe Iraq and maybe Vietnam will be winners in these resets but with Iran under sanctions and pissing everyone in the straight of Hormuz off I don’t see how the international community will recognize their new currency. We’ll see. 

 

Good of luck to all invested in any currency

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1 hour ago, KristiD said:

As much as I love hopium, it's my opinion we should try to at least keep it real.  So in that spirit, I hope everyone will take a second look at Iran's currency.  Iran is "lopping" off 4 zeros from its currency because of inflation.  That is what countries do (Venezuela did it several times) to try to cope with runaway inflation.  Technically, you can say that's a revaluation because the value is being adjusted, but it's not adding more purchasing power to the rial/toman in Iran's case (though that will happen when Iraq RVs).  Iran is doing this to simplify things because the rial has lost so much purchasing power they have to take wads and wads of it to buy things.  Also, they want to revert to the toman because its confusing to foreigners to use both rial and toman, so they're taking advantage of changing the value to do that.  And just as an fyi, if the government approves this (which I assume is what is set to happen Sunday), they want this to start on August 12 according this this article.  Below I've copied an article about Iran's lopping off the 4 zeros that explains what is happening well. https://www.timesofisrael.com/sanctions-hit-iran-to-rename-plunging-currency-cut-off-zeros/

 

I also want to point out that, just as Navira said, I believe Iraq's RV will happen when least expected.  When any country is adding value to their currency they never annouce the timing in advance.  They cannot just say, for instance, "starting on X day, our currency will be worth 10 times more".  If they did, everyone who heard about this would go hog wild trying to buy, bribe, cheat and steal to get as much of that currency as they possibly can. It'd be is a disaster.  So, knowing that, it makes it all the more clear that Iran's "lop" is not going to add purchasing value to their currency - and it's not tied to Iraq's RV that will be doing that. 

 

Nonetheless, this does NOT mean Iraq is not about to RV, just that what Iran is doing with their rial has nothing to do with Iraq  Iran is simply trying to survive US sanctions as best they can.  But there is still plenty of reason to be excited about Iraq's RV though.  Just look at how fast and how much they have accomplished.  Sure the government is off for this month, but, think about this:  since Iraq will want to RV when it's least expected, with the government off, it could be the perfect time!  And last but not least, from the woo woo side, there is a thread about dreams in the Opinions section here and KeyLime was told years ago in a dream that the RV would happen in August.  Not long ago, he/she dreamt about the number "19" and thinks that it means it's finally gonna happen this year (2019).  Also, one of our top "bros" here, also had similar dream about the month of August.  So pesonally, I don't think we even need any false hopium from Iran's lop!!

 

Sanctions-hit Iran to rename its plunging currency, cut off zeros 

 

TEHRAN, Iran — The government in sanctions-hit Iran on Wednesday approved a plan to remove zeros from the rial and rename the currency — something its people have long been doing to simplify transactions.

“The cabinet today agreed on a bill to eliminate four zeros from the currency and that ‘toman’ will be our national currency,” government spokesman Ali Rabiei told reporters in Tehran.

 

The value of the Iranian rial has hit low after record low since last year.

The currency was trading at about 37,000 to the dollar three years ago, but it slumped to around 180,000 last year.

That was after US President Donald Trump announced the United States was unilaterally withdrawing from the 2015 Iran nuclear deal and reimposing biting sanctions.

At the time, long queues were seen outside exchange offices, before the Iranian government took drastic measures by arresting unlicensed dealers and freezing the accounts of speculators.

Currently the rial is trading at around 120,000 to the US dollar on the street, while the official rate is 42,000.

This means anyone without a bank card has had to virtually abandon coins and carry around thick wads of banknotes in their purses or wallets just to make everyday purchases.

In a bid to simplify transactions, Iranians have long referred to their currency as the toman and chopped off a zero — a unique system that is a source of confusion for foreign visitors.

The Iranian government has now acknowledged this with its latest move, which needs to be forwarded to parliament for final approval.

“This will make the national currency more effective,” said the spokesman Rabiei. “It will be more in line with common practice in society… the rial is not used that much.”

“Coins will once again come into circulation,” he added.

The International Monetary Fund has forecast Iran’s economy to shrink by 6.0 percent this year due to sanctions and rising instability in the Middle East.

 

 

Thanks Kristi.

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31 minutes ago, dinardiggerisme said:

a few years ago when I was buying  Rial it was all over eBay.....seems not so much for sale now..strange.. Will be interesting to see what happens with it.

If I could find it I would buy some right now just to see what happens!! I put a grand on black a couple weeks ago and lost. Let’s put a grand on Rial and see what happens!!!! It’s all a gamble! 

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