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yota691

Iran to delete 4 zeroes from the national currency

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1 hour ago, screwball said:

Why do you think Iraq will give you money? How are these two country so different?

1 big difference is Iraq has IMF UN WTO US treasurey an world bank helping them who does iran have 

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1 hour ago, DIAMOND said:

1 big difference is Iraq has IMF UN WTO US treasurey an world bank helping them who does iran have 

All same except us treasury! Need to reed un reports on Iran.sanctions are un sanctions but treasury! Which works in their favour because they deal with euro not usd! 

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screwball iran has no international support, thats bottom line, so all they can do is rv in country, good luck goin there an cashin out

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There are several countries that have recently announced news about their local currency changes within their country in the near future . Whether they produce a return has yet to be seen . What is important . They are speaking and acting much more about their coming currency changes and new agreements with other countries . That is Significant news at this point . It should not be overlooked by only what we seek or do not seek .Which is a return on our investment .

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34 minutes ago, blueskyline said:

There are several countries that have recently announced news about their local currency changes within their country in the near future . Whether they produce a return has yet to be seen . What is important . They are speaking and acting much more about their coming currency changes and new agreements with other countries . That is Significant news at this point . It should not be overlooked by only what we seek or do not seek .Which is a return on our investment .

Which several countries?

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1 hour ago, southbeach said:

Which several countries?

https://www.google.com/amp/s/www.forbes.com/sites/billybambrough/2019/08/13/crypto-markets-braced-as-chinas-long-awaited-bitcoin-rival-almost-here/amp/.....

15,818 views|Aug 13, 2019,2:58 am

Crypto Markets Braced As China's Long-Awaited Bitcoin Rival 'Almost' Here....https://www.google.com/amp/s/www.tasnimnews.com/en/news/2019/07/31/2066057/iran-to-remove-4-zeros-from-currency/amp...Iran to Remove 4 Zeros from Currency.....

UPDATE 3-Zimbabwe ends decade of dollarisation in new currency reform....HARARE, June 24 (Reuters) - Zimbabwe made its interim currency the country's sole legal tender on Monday, ending a decade of dollarisation and taking a another step towards relaunching the Zimbabwean dollar.....these are a few 

Nelson Banya...
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Curious to know what Adam thinks about all this garbage. 

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20 minutes ago, Jaygo said:

Curious to know what Adam thinks about all this garbage. 

 

Garbage? This thread is better than Comedy Central. I need more popcorn.

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1 hour ago, Carrello said:

 

Garbage? This thread is better than Comedy Central. I need more popcorn.

Truth!! 😬

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1 hour ago, Carrello said:

Garbage? This thread is better than Comedy Central. I need more popcorn.

 

Here - This Should Probably Last Us A While ! :o 

 

pop corn GIF

 

And How Much Further Did U Say This ‘RV’ Thingy Was ...

 

:D  :D  :D 

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3 minutes ago, DinarThug said:

 

Here - This Should Probably Last Us A While ! :o 

 

pop corn GIF

 

And How Much Further Did U Say This ‘RV’ Thingy Was ...

 

:D  :D  :D 

 

I took that ride on Monday night. Miles and miles and miles since then but still end up in the same place.

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LINK

US report: economic tsunami strikes Iran .. And Tehran drains cash reserves

 

5213c384-95f6-4ce3-81b6-6111f3cdf837

 

14th August, 2019

 

 

An economic catastrophe could hit Iran because of mounting US sanctions and Tehran could delay the collapse by depleting its hard currency reserves and circumventing sanctions, a US think tank said on Monday.

Inflation

The "Defense of Democracies Foundation" in a report published on Tuesday that the inflation rate in Iran jumped last month to its highest level since 23 years of his arrival to 40.4% on an annual basis, surpassing the level of inflation recorded in October / November the month of the year 2013, which amounted to about 36.2%.

Exchange Iranian Rial

and saw the report, written by the Director of the Iranian Studies Foundation, Saeed Jassim Nejad, that inflation could be in the coming period continues to rise dependent on several factors, including the Iranian rial exchange rate, the flow of hard currency, and the level of exports, and the stability of the financial system, and the ability of System on the import of consumer products and capital goods necessary.

A grim picture

of the report pointed out that the economic developments in the recent period , "paint a grim picture" of what will be the economy of Iran as a result of the continued decline in oil exports, which form the backbone of a reserve of hard currency for Tehran, pointing out that the problem will worsen also because of the continuing decline in petrochemical exports and diminishing the ability of banks Iran to obtain hard currency from oil export revenues because of sanctions.


Reduce the support 

report it revealed that the Iranian regime is currently considering cutting subsidies on some basic food commodities and raise the riyal exchange rate , pointing out that those steps may be useful for economic reform programs in the long term, but could push inflation rates to new record levels. “The Iranian regime may be able to delay an economic catastrophe by depleting its foreign exchange reserves, cutting back on infrastructure projects and trying to circumvent US economic sanctions,” he said.

Foreign investment

"But the fact is that over time will lead to a significant decrease in employment opportunities for Iranians, especially since these measures mean a sharp decline in hard currency and the flow of foreign investment and the continued weakness of commodity imports .. This course will increase the risk of a comprehensive financial collapse.

Negotiations

The author said that accepting Iran to negotiate with Washington may be the only hope to avoid an economic disaster, expressing his belief that US President Donald Trump to take advantage of the economic difficulties in Iran and tighten sanctions to force it to negotiate.  “Trump should not show that he is in dire need of a deal with Iran, but continue to tighten sanctions because that is the sure way to subdue them,” he concluded.

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I'm thinking Iran's leaders will see their country go into the abyss an civil war before they ever cow down to the USA or Trump...

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On 8/14/2019 at 3:24 PM, DinarThug said:

LINK

US report: economic tsunami strikes Iran .. And Tehran drains cash reserves

 

5213c384-95f6-4ce3-81b6-6111f3cdf837

 

14th August, 2019

 

 

An economic catastrophe could hit Iran because of mounting US sanctions and Tehran could delay the collapse by depleting its hard currency reserves and circumventing sanctions, a US think tank said on Monday.

Inflation

The "Defense of Democracies Foundation" in a report published on Tuesday that the inflation rate in Iran jumped last month to its highest level since 23 years of his arrival to 40.4% on an annual basis, surpassing the level of inflation recorded in October / November the month of the year 2013, which amounted to about 36.2%.

Exchange Iranian Rial

and saw the report, written by the Director of the Iranian Studies Foundation, Saeed Jassim Nejad, that inflation could be in the coming period continues to rise dependent on several factors, including the Iranian rial exchange rate, the flow of hard currency, and the level of exports, and the stability of the financial system, and the ability of System on the import of consumer products and capital goods necessary.

A grim picture

of the report pointed out that the economic developments in the recent period , "paint a grim picture" of what will be the economy of Iran as a result of the continued decline in oil exports, which form the backbone of a reserve of hard currency for Tehran, pointing out that the problem will worsen also because of the continuing decline in petrochemical exports and diminishing the ability of banks Iran to obtain hard currency from oil export revenues because of sanctions.


Reduce the support 

report it revealed that the Iranian regime is currently considering cutting subsidies on some basic food commodities and raise the riyal exchange rate , pointing out that those steps may be useful for economic reform programs in the long term, but could push inflation rates to new record levels. “The Iranian regime may be able to delay an economic catastrophe by depleting its foreign exchange reserves, cutting back on infrastructure projects and trying to circumvent US economic sanctions,” he said.

Foreign investment

"But the fact is that over time will lead to a significant decrease in employment opportunities for Iranians, especially since these measures mean a sharp decline in hard currency and the flow of foreign investment and the continued weakness of commodity imports .. This course will increase the risk of a comprehensive financial collapse.

Negotiations

The author said that accepting Iran to negotiate with Washington may be the only hope to avoid an economic disaster, expressing his belief that US President Donald Trump to take advantage of the economic difficulties in Iran and tighten sanctions to force it to negotiate.  “Trump should not show that he is in dire need of a deal with Iran, but continue to tighten sanctions because that is the sure way to subdue them,” he concluded.

Nope they will deal and then will rv...

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Have a listen to the bunch of investors...and financial experts...makes me laugh..I had listen to people like you and not savvy investors I would haven’t bought bitcoin when it was $50 and dogcoin when it was priced like rial...and yet here I am over $300,000 dollars I front and you all are still waiting on Iraq...LOL..now that’s funny stuff. Oh and I forgot to tell you when I first invested in dogcoin in the December I made my first $75,000 in the following jan, only to cash out and make another $159,000...how your investment working out for? Oh and let’s talk abiut the Iraqi shares! 100,000,000 and counting and why you all have been waiting on dinar I have been compounding and re investing cash dividends into my shares..oh the early days! Good luck to us...to me $110,000,000 rialsis a small price to pay...junior member...serious investor!

Edited by screwball
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9 hours ago, blueskyline said:

https://www.google.com/amp/s/www.forbes.com/sites/billybambrough/2019/08/13/crypto-markets-braced-as-chinas-long-awaited-bitcoin-rival-almost-here/amp/.....

15,818 views|Aug 13, 2019,2:58 am

Crypto Markets Braced As China's Long-Awaited Bitcoin Rival 'Almost' Here....https://www.google.com/amp/s/www.tasnimnews.com/en/news/2019/07/31/2066057/iran-to-remove-4-zeros-from-currency/amp...Iran to Remove 4 Zeros from Currency.....

UPDATE 3-Zimbabwe ends decade of dollarisation in new currency reform....HARARE, June 24 (Reuters) - Zimbabwe made its interim currency the country's sole legal tender on Monday, ending a decade of dollarisation and taking a another step towards relaunching the Zimbabwean dollar.....these are a few 

Nelson Banya...

Done blue no use wasting your breath on these financial experts and investor savy experts!

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On 8/14/2019 at 3:24 PM, DinarThug said:

LINK

US report: economic tsunami strikes Iran .. And Tehran drains cash reserves

 

5213c384-95f6-4ce3-81b6-6111f3cdf837

 

14th August, 2019

 

 

An economic catastrophe could hit Iran because of mounting US sanctions and Tehran could delay the collapse by depleting its hard currency reserves and circumventing sanctions, a US think tank said on Monday.

Inflation

The "Defense of Democracies Foundation" in a report published on Tuesday that the inflation rate in Iran jumped last month to its highest level since 23 years of his arrival to 40.4% on an annual basis, surpassing the level of inflation recorded in October / November the month of the year 2013, which amounted to about 36.2%.

Exchange Iranian Rial

and saw the report, written by the Director of the Iranian Studies Foundation, Saeed Jassim Nejad, that inflation could be in the coming period continues to rise dependent on several factors, including the Iranian rial exchange rate, the flow of hard currency, and the level of exports, and the stability of the financial system, and the ability of System on the import of consumer products and capital goods necessary.

A grim picture

of the report pointed out that the economic developments in the recent period , "paint a grim picture" of what will be the economy of Iran as a result of the continued decline in oil exports, which form the backbone of a reserve of hard currency for Tehran, pointing out that the problem will worsen also because of the continuing decline in petrochemical exports and diminishing the ability of banks Iran to obtain hard currency from oil export revenues because of sanctions.


Reduce the support 

report it revealed that the Iranian regime is currently considering cutting subsidies on some basic food commodities and raise the riyal exchange rate , pointing out that those steps may be useful for economic reform programs in the long term, but could push inflation rates to new record levels. “The Iranian regime may be able to delay an economic catastrophe by depleting its foreign exchange reserves, cutting back on infrastructure projects and trying to circumvent US economic sanctions,” he said.

Foreign investment

"But the fact is that over time will lead to a significant decrease in employment opportunities for Iranians, especially since these measures mean a sharp decline in hard currency and the flow of foreign investment and the continued weakness of commodity imports .. This course will increase the risk of a comprehensive financial collapse.

Negotiations

The author said that accepting Iran to negotiate with Washington may be the only hope to avoid an economic disaster, expressing his belief that US President Donald Trump to take advantage of the economic difficulties in Iran and tighten sanctions to force it to negotiate.  “Trump should not show that he is in dire need of a deal with Iran, but continue to tighten sanctions because that is the sure way to subdue them,” he concluded.

Trump said this over four weeks ago...they will deal and rv otherwise cash reserves will be deplinished.

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28 minutes ago, screwball said:

Done blue no use wasting your breath on these financial experts and investor savy experts!

Lol

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Mr. Screwball:  Like a world famous man I know once said, : " Assuredly, I say to you, I have not found such great faith, not even in Israel."  Keep the faith friend.

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1 hour ago, screwball said:

Have a listen to the bunch of investors...and financial experts...makes me laugh..I had listen to people like you and not savvy investors I would haven’t bought bitcoin when it was $50 and dogcoin when it was priced like rial...and yet here I am over $300,000 dollars I front and you all are still waiting on Iraq...LOL..now that’s funny stuff. Oh and I forgot to tell you when I first invested in dogcoin in the December I made my first $75,000 in the following jan, only to cash out and make another $159,000...how your investment working out for? Oh and let’s talk abiut the Iraqi shares! 100,000,000 and counting and why you all have been waiting on dinar I have been compounding and re investing cash dividends into my shares..oh the early days! Good luck to us...to me $110,000,000 rialsis a small price to pay...junior member...serious investor!

I follow Warren Buffet ....never listen to experts.

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1 hour ago, screwball said:

Have a listen to the bunch of investors...and financial experts...makes me laugh..I had listen to people like you and not savvy investors I would haven’t bought bitcoin when it was $50 and dogcoin when it was priced like rial...and yet here I am over $300,000 dollars I front and you all are still waiting on Iraq...LOL..now that’s funny stuff. Oh and I forgot to tell you when I first invested in dogcoin in the December I made my first $75,000 in the following jan, only to cash out and make another $159,000...how your investment working out for? Oh and let’s talk abiut the Iraqi shares! 100,000,000 and counting and why you all have been waiting on dinar I have been compounding and re investing cash dividends into my shares..oh the early days! Good luck to us...to me $110,000,000 rialsis a small price to pay...junior member...serious investor!

Warren Buffett explains why he never listens to economists

Tae Kim | @firstadopter
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1 hour ago, screwball said:

Have a listen to the bunch of investors...and financial experts...makes me laugh..I had listen to people like you and not savvy investors I would haven’t bought bitcoin when it was $50 and dogcoin when it was priced like rial...and yet here I am over $300,000 dollars I front and you all are still waiting on Iraq...LOL..now that’s funny stuff. Oh and I forgot to tell you when I first invested in dogcoin in the December I made my first $75,000 in the following jan, only to cash out and make another $159,000...how your investment working out for? Oh and let’s talk abiut the Iraqi shares! 100,000,000 and counting and why you all have been waiting on dinar I have been compounding and re investing cash dividends into my shares..oh the early days! Good luck to us...to me $110,000,000 rialsis a small price to pay...junior member...serious investor!

 

What are you doing, Screwball?  Trying to make everyone feel bad?

No?  You're not?

Well then, stop your effen bragging about how much money you have.

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Floridian, don’t let this person bug you an especially about how much money you think they might have. 

This is the internet where anybody can be whatever they want to be. 

Think about this for a second, if you had all these millions these folks claim to have, what in the hell are they doing on Dinar forum...lol 

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THUG!

Honey, do you mind? A little more butter this time. You're a doll.

Edited by Carrello
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    • By DWS112
      This is the history of the currency in Iran .. Why Tehran will delete the zeros from its banknotes?
      8/16/2019

       
      Mohammad Rehmanpour-Tehran
       
      For decades, governments of many countries have benefited from the benefits of deleting zeros from their local currencies, to facilitate their use among people, reduce printing costs, control inflation and strengthen the position of the local currency among countries.
      After rounds of negotiations over the years, the Iranian government approved a proposal by the central bank in January this year to remove the four zeros from the local currency, and the proposal was submitted to the Iranian parliament for approval.
       
      Since the reign of the Achaemenids to date, more than 50 different currency types have been used in Iran, such as the Achaemenid Drake, the Dirham, the Sassanian dinar, the Shah, the Abbasid Safavid, the Toman, and the Qajar Koran to the current rial and dinar.
       
      According to the first article of the banking monetary law adopted since 1972 in Iran, the official currency of the country is the Iranian rial, which was replaced by the Toman in the Pahlavi state in 1929 and continued to this day, where one riyal consists of one hundred dinars.
       
      Although the name of the currency has changed to the riyal, the Iranian people still call their currency "Toman" in their purchasing business. The use of the riyal name is limited to banks and official institutions in Iran.
       
      But according to the central bank's plan, the toman would become the official currency of Iran as an alternative to the rial. Four zeros will be deleted from the official currency.
       

       
      Toman Original currency

      The Toman will become the original currency of Iran, while the riyal remains the sub-currency, each 100 riyals constitute one toman.
      For its part, the Central Bank announced the start of the process of collecting used money and exchange of new money within 24 months after the approval of Parliament.
       
      "The value of the Iranian national currency has fallen by 3,500 times since 1971, and the exchange rate of the Iranian riyal against foreign currencies (the dollar) is 0.000008. In dollars. "
       
      He added that there are currently seven billion banknotes in the country, but the number will fall to three billion after the exchange of the riyal Altoman. This will facilitate trade and exchange between people and reduce the cost of printing money.
       
       Divergent views
      Opinions on the new plan were divided between loyal and opposition until the issue became controversial in Iran.
      In their view, it is more feasible at this stage for the government to focus on reforming the country's economic system and reducing inflation, which has reached 40%, while the economic growth rate is 5%.
       
      Similar experiences in other countries show that monetary change only achieves its objectives and desired results when economic stability is achieved. .
       
      On the other hand, supporters believe that the most important features of the plan is to give the currency its real value.
      The plan is characterized by reducing the size of banknotes and facilitate transactions and reduce the storage and maintenance space and save the banknotes better, and facilitate the process of carrying and transport, and reduce the psychological effects of inflation, and raise the currency between countries, and save time for people and banks at the same time, according to supporters .
       

       
       Inflation and other things

      says Ali religious Turkmen professor Tehran University and faculty member at Institute Studies and Research business in his speech to island "took this decision result continuous inflation years now which contributed zooms numbers."
       
      He pointed out that the basic elements of currency stability and control of inflation are not achieved when changing the currency and deleting zeros, Turkey has a similar experience in the deletion of six zeros from its currency in 2005, but the plan would not have benefited the Turkish economy without Turkey's involvement in the European market and attract head Foreign money and the correct management of the economy.
       
      He also said that this plan will not affect the purchasing power or people's property, and that the deletion of zeros will include money and goods at the same time, for example, the price of bread will become Tomanin instead of 20,000 riyals.
       
      Similarly, for foreign trade or foreign exchange transactions, prices will remain the same, and the purchasing power of foreign currencies will remain unchanged with the new toman, he said.
       
      In this sense, changing the currency and deleting its zeros is a double-edged sword for the Iranian economy. The success of the plan depends on the government's parallel economic reforms, to safely pass the thorny economic entitlement, otherwise it will sink into inflation again if it continues to deal with the old system and the same mentality four decades ago, observers say.
       
    • By yota691
      Economist: Iraq is not affected by the fall of the Toman because it deals with a basket of world currencies, including the dollar
      Economie 11:58 Last updated S homepage! 1208 Watch       BAGHDAD (Reuters) - 
      The collapse of the Iranian currency against the dollar is an internal affair of the Iranian republic and has a positive impact on Iraq, the economic expert said on Monday. 
      Jabbar said in an interview with "Al-Ghad Press" that "the financial deposit of the Iraqi investor in Iranian banks and banks is not affected by the decline or collapse of the Iranian Toman against the US dollar, being considered a foreign deposit remains the same with their benefits in a certain investment circle," adding that "The stock market and securities and the basket of foreign currencies against the Iranian currency will certainly affect the decline or collapse of the Iranian Toman."

      "The decline of the Iranian currency does not affect the Iraqi investors because the decline or collapse of the Tuman is because of the sanctions imposed by the United States of America on Iran, and therefore do not reflect a serious market," noting that "the process of retreat or collapse of the Iranian Toman on Iraq Will have a positive outcome, because Iraq is a country importer of Iranian goods. " 
      "The decline in the Iranian currency will reduce the investments in Iran and begin to move towards Iraq in light of the improved security and economic situation in Iraq," Jabbar said, adding that "Iraqi imports will be booming because the financial value of imported quantities will be less as a result of the decline of Atoman against the US dollar, Fruits and Iranian milk. "
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