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

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

Deleting Currency Zeroes


Recommended Posts

Upstairs in the thread of the same name Ididitfirst asks:



The answer is that this has no impact on the value of the current curency (that folks here hold).  As the article explains if Iraq were to delete three zeros a NEW dinar would be worth 1,000 old dinar.  This is a nredenomincation or what the RV crowd likes to call a "LOP".   It is the only way to undo the effects of PAST hyperinflation (it does nothing for or against current inflation but Iraq's current inflation is under control so this is not a concern in any case).   Hyperinflation is of course how the IQD went form being worth a few dollars to being worth about a thousand of a dollar.  When Saddam could not sell oil he just cranked up the printing presses.


Will Iraq carry out a redenomination?  They have been talking about it for a very long time so maybe they eventually the will do what they say.  On the other hand they have been talking about it for a very long time without ever doing it so maybe they never will.  i.e. your guess is as good as anyone else's.  All we can say for sure is that they COULD do so, not that they will.

Link to comment
Share on other sites

  • 1 month later...

The CBI is going bankrupt!!!!!!!

I dont know why at least a few have realized what has been going on.

The GOI has been raiding the CBI reserves for the last 4 years . The CBI has been forced to exchange dollars for bogus Iraqi bonds . The reserves are down to less than $20Bn in cash. If that continues the reserves will be ZERO in 6 months.

Oil has to go above $60  to get a balanced budget just to cover operating expenses.  So they must borrow at least $10 Bn per quarter. 2 quarters and the CBI is wiped out...

Before it gets that bad the CBi will have to move the price of the dollar towards 1500 as the MP has warned. It better not wait to start the move.  That shock would wipe out most other banks and businesses.

The lift the zeros plan is GONE.  Iraqi's will experience AUSTERITY like they have never seen.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Create New...

Important Information

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