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To the executive branch to the central bank of Iraq


PrehistoricMan
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4 hours ago, PrehistoricMan said:

return a new exchange rate Each dinar equals $ 3, as it was previously.

 

41 minutes ago, jaybake said:

Come on people, this sounds like they are going to lop their currency.  If so, how is that good for us? Just wondering. lol

 

Doesn’t sound like a lop to me ...

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Why is everybody happy about a lop?  That's what I would like to know!

And then, how long do we have to wait for $3.00 - 10 more years?  15 more years?

 

 A new exchange rate is required for the Iraqi dinar towards the US dollar, which is one dinar equals one US dollar. This requires deleting the three zeros, for example, the 1000 dinars become Iraqi dinars, and the million dinars (1,000,000) (becomes) one thousand Iraqi dinars (1000), (this is a LOP) and according to the new exchange rate 1000 dinars equals 1000 US dollars, and this is in the interest of the Iraqi citizen and economy as a first stage and work in the future (yeah! The FUTURE) to return a new exchange rate Each dinar equals $ 3, as it was previously.

 

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2 hours ago, stanleypower said:

Do we know who this guy is? 

 

from what i can tell he is a writer 🤣 ....... of opinion piece(s) articles , although most seem level headed not the typical iraqi jibber jabber but real common sense stuff he's not a goi or cbi guy so just reading material to enlighten the masses :tiphat:

 

If u use a translator u can read em all .... cheers dv'ers 

 

https://kitabat.com/author/2160/

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2 hours ago, stanleypower said:

Do we know who this guy is? 

 

from what i can tell he is a writer 🤣 ....... of opinion piece(s) articles , although most seem level headed not the typical iraqi jibber jabber but real common sense stuff he's not a goi or cbi guy so just reading material to enlighten the masses :tiphat:

 

If u use a translator u can read em all .... cheers dv'ers 

 

https://kitabat.com/author/2160/

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23 minutes ago, dinarham said:

Iraq has plenty of money to revalue at a high rate ,$5,26.

 

9 minutes ago, screwball said:

Exactly but people seam don’t to think so 

 

Oh I know Iraq has money, but what makes you think they will revalue at a high rate?

Where's the evidence that the politicians care about their people, or anything else beside their own pocketbooks, for that matter?  

 

Remember what happened when Shabibi tried to do the right thing?  He dares not come back to Iraq.

 

Edited by Floridian
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3 minutes ago, Floridian said:

     Maybe it's a combination of faith and magical thinking , intuitive think all the way ,and I'm having great fun .

 

Oh I know Iraq has money, but what makes you think they will revalue at a high rate?

Where's the evidence that the politicians care about their people, or anything else beside their own pocketbooks, for that matter?  

 

Remember what happened when Shabibi tried to do the right thing?  He dares not come back to Iraq.

 

 

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1 hour ago, Floridian said:

 

 

Oh I know Iraq has money, but what makes you think they will revalue at a high rate?

Where's the evidence that the politicians care about their people, or anything else beside their own pocketbooks, for that matter?  

 

Remember what happened when Shabibi tried to do the right thing?  He dares not come back to Iraq.

 

They don’t care about the people just their pockets! And that’s why they will revalue! People also loose sight of why the zeros went on? They went on and they will come off! If they revalue at one for one and open up their markets their companies will be bought up for pennies and they do not want this! Think! That’s all people need to do!

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LOL!! PreHstoricman I couldn't resist! This economist is exactly right but the point is will they do it and when. 

Dinarham has a point as well. The IMF and the World Bank has approved of the devaluation because the CBI has a lack of

liquidity.(So they say) The question is how long can the dinar remain at this rate as inflation rises and will the Iraqi People

rebel due to poverty. My Dad use to say "pressure will burst a pipe"! The elections are in June and there is Iran to deal with. SMH!! They haven't even passed the budget yet and now they are talking about a supplemental budget. REALLY!! I personally hope something happens after the election and I have read that the barrel of oil could reach $100 this year so if those clowns don't RV at $100 a barrel, they are the biggest damn fools in the world! Something has to give eventually because the new Iraq Dinar was printed before we invaded Iraq so somewhere someone knows but we sure don't. Even though they have been releasing information like this for years, I like this article because it makes sense. Go Rv! (Where is Shabibi when you need him) 

 

 

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12 hours ago, PrehistoricMan said:

A new exchange rate is required for the Iraqi dinar towards the US dollar, which is one dinar equals one US dollar. This requires deleting the three zeros, for example, the 1000 dinars become Iraqi dinars, and the million dinars (1,000,000) one thousand Iraqi dinars (1000), and according to the new exchange rate 1000 dinars equals 1000 US dollars, and this is in the interest of the Iraqi citizen and economy as a first stage and work in the future to return a new exchange rate Each dinar equals $ 3, as it was previously.

when they say deleting 3 zeros means the process of " deleting 3 zeros " is implemented in country of iraq only, not out of iraq. so deleting 3 zeros is applied to iraqi citizens only who want to exchange old dinar ( before deleting 3 zeros ) for new lower denoms ( after deleting 3 zeros ). and out of iraq country,  the dinar investors will exchange dinar ( before deleting 3 zeros )for dollars in the us at the new exchange rate 1:1 ( the new exchange rate 1000 dinars equals 1000 US dollars or 1:1 ) or 3 usd ( in the future to return a new exchange rate Each dinar equals $ 3 ).  i think none of you folks wants to exchange old dinar ( before deleting 3 zeros )  for new lower denoms first, then after that exchange again from new lower denoms ( after deleting 3 zeros ) for dollars ( means no profit=lop=redenomination )  in country of iraq right folks.

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Correct basically inside of Iraq they will exchange 1 for 1 which in essence is a lop however they get much greater purchasing power which makes the new lower denoms worth more! Outside of Iraq we are not exchanging for the new lower denoms we are exchanging at whatever the current exchange rate will be which is hopefully atleast $1.17 or higher!!! Hope this helps any lopsters out there once again on how the process works, if you don’t believe it works this way then you should have sold out years ago and bought Bitcoin, the same 10k investment back in say 2010 in Bitcoin you would be worth about 500+ Million dollars today...that’s right over half a billion dollars today Friday 2/19 instead of complaining about the still worthless 1/10 of a penny dinar investment saying it’s going to lop. So you made your choice live with it and stop complaining  about a stupid lop that will never happen!!

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3 minutes ago, Dinarrock said:

Correct basically inside of Iraq they will exchange 1 for 1 which in essence is a lop however they get much greater purchasing power which makes the new lower denoms worth more! Outside of Iraq we are not exchanging for the new lower denoms we are exchanging at whatever the current exchange rate will be which is hopefully atleast $1.17 or higher!!! Hope this helps any lopsters out there once again on how the process works, if you don’t believe it works this way then you should have sold out years ago and bought Bitcoin, the same 10k investment back in say 2010 in Bitcoin you would be worth about 500+ Million dollars today...that’s right over half a billion dollars today Friday 2/19 instead of complaining about the still worthless 1/10 of a penny dinar investment saying it’s going to lop. So you made your choice live with it and stop complaining  about a stupid lop that will never happen!!

I love you for this.

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23 hours ago, Uckiller said:

Lop since he mentioned 1000 to 1..1000000 to 1000.. misinterpreted by translation

Your reading comprehension needs work. 

 

On 2/18/2021 at 1:59 PM, PrehistoricMan said:

 A new exchange rate is required for the Iraqi dinar towards the US dollar, which is one dinar equals one US dollar. This requires deleting the three zeros, for example, the 1000 dinars become Iraqi dinars, and the million dinars (1,000,000) one thousand Iraqi dinars (1000), and according to the new exchange rate 1000 dinars equals 1000 US dollars,

His first sentence clearly states that he wants the exchange rate to be 1:1 or on par with the USD. His second statement is referring to the deletion of the zeroes in which he gives three examples of what removing the zeroes. In the same breath he continues the examples with 1000 dinars equals 1000 USD. That is a removal of the zeroes with an exchange rate of 1:1. If it were a LOP and they just removed the zeros then the exchange rate would not be 1:1. Again you need to read the words and not just point out what you think they say. The guy is talking about how the dinars should be on par with the USD as an exchange rate, remove three zeroes and then work up to the dinar equaling 3 USD. 

 

The premise of the article is that the author believes that the dinar's exchange rate should move more towards the dollar and eventually work towards equaling 3 USD. All the while removing three zeroes. This is called a revaluation not a LOP when the exchange rate is involved. A LOP is just the removal of zeroes without changing the current exchange rate. Again reading comprehension.

 

Now it is quite possible they do delete the three zeroes without changing the exchange rate and at a later date increase the exchange rate to a 1:1. If they do that I am confident a great many people would become emotional, beech and moan until there is no end. A good deal would get out of the game and only a few would remain. This could eventually play out to reduce the number of dinars outside of Iraq. 

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