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Saturday Noontime Opinions @ 1:33 PM CST - 2/20/2021


ronscarpa
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Remember, no one really  knows what will happen, or when. They're simply stating their opinions based on what  they perceive to be happening in Iraq. :twothumbs:RON



*** Pimpy *** Article: "To the executive branch to the Central Bank of Iraq". Quote: "the new exchange rate is required for the Iraqi dinar towards U.S. dollar which is 1 dinar equals 1 U.S. dollar.  That requires deleting the three zeros. That screws us by the way.  Quote:   "for example the 1000 dinar becomes the Iraqi dinar. In other words what they're saying, if you delete the zeros the one thousand dinar would be equivalent to one U.S. dollar.  1 for 1...that means my 5 million dinars turns into 5000 dinars and at a 1 for 1 rate I would exchange my 5000 dinars and get 5000 dollars.  That's what's being suggested here...(Post 1 of 2).. 

 

*** Pimpy *** ...I don't mind a 1 for 1 rate but you definitely don't want them to lop off the zeros and devalue the currency that we are holding...we want the zeros removed off the rate. Quote: "...work in the future to return a new exchange rate each dinar equals $3 as it was previously."  Not too shabby...I'm cheering that on.  I don't like the lopping the zeros...don't get me wrong, I do want to make money off the Iraqi dinar...but I just can't stand to see an entire nation getting their ass ripped off by these global interest groups...(Post 2 of 2).. 

 

 

*** Jeff *** Article: "The Iraqi Parliament talks about the government's presentation of a "new budget" in the coming months"  Iraq's telling us they're probably going to finish their budget by sometime next week.  So if they're going to finish their budget why do they need to introduce the budget in the coming months It's because they have the same exact fiscal year as Kuwait - April through March.  This is more confirming information...I know this for a fact because I've reached out and contacted the government of Iraq.  I have a contact in the government of Iraq that I'm able to talk to...everything is right on track and on time...we're looking good...


*** MilitiaMan *** Articles: "The Kurdish delegation reveals the latest results of its negotiations with Baghdad on the budget"; The Kurdistan government confirms that a quasi-agreement has been reached between Baghdad and Erbil  It looks to me like they have a deal since 12/2020 and now seem to be hammering out past arrears. ...Looks like they have a new formula to use too. It goes to the thinking that a new formula is based of a future exchange rate differential. They will have to have be part of the electronic system at the borders to exclusively to the non oil revenues to the treasury.  Sure looks like...a digital requirement... A level playing field... They sure seem to suggest that they will have this sorted this next week or between now and then anyway...We shall see...

 

 

:tiphat:

Edited by ronscarpa
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53 minutes ago, ronscarpa said:

*** Pimpy if you delete the zeros the one thousand dinar would be equivalent to one U.S. dollar.  1 for 1...that means my 5 million dinars turns into 5000 dinars and at a 1 for 1 rate I would exchange my 5000 dinars and get 5000 dollars. 

When you talk about deleting 3 zeros means new lower denoms. For example, 25 000 dinar note delete 3 zeros=25 new lower dinar note. After that, 25 new lower dinar note x 1 usd=25 usd. That means you don't make money, no profit. Is this what you want it? If you are iraqi citizens, then you exchange old dinar for new lower denoms only ( iraqi citizens don't need to exchange for dollars ) and no profit at all. But if you are dinar investors, why would you want to exchange your dinar for new lower denoms first, then after that exchange from new lower denoms for dollar without making any profit at all? Why why why? If you are dinar investors, you should exchange your dinar directly for dollar ( you don't need new lower denoms ) in the us at whatever rate offered at that time.

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7 hours ago, fioranosportscars said:

removing 3 zeros is  removing from the value ... not the note

 

The example in the article Pimpy quoted from was implying a LOP ... however, in the past it was implied that it was to be from the exchange rate, which would cause them to have to distribute the Lower Denomination notes.  This article seems to change the equation. We shall see what time brings us.  RON

 

7 hours ago, rvmydinar said:

When you talk about deleting 3 zeros means new lower denoms. For example, 25 000 dinar note delete 3 zeros=25 new lower dinar note. After that, 25 new lower dinar note x 1 usd=25 usd. That means you don't make money, no profit. Is this what you want it? If you are iraqi citizens, then you exchange old dinar for new lower denoms only ( iraqi citizens don't need to exchange for dollars ) and no profit at all. But if you are dinar investors, why would you want to exchange your dinar for new lower denoms first, then after that exchange from new lower denoms for dollar without making any profit at all? Why why why? If you are dinar investors, you should exchange your dinar directly for dollar ( you don't need new lower denoms ) in the us at whatever rate offered at that time.

However, the second part of the article (post 2) says they would like to return to the $3 range (previously $3.22) - so, if they should LOP, then increase the value to $3+ we would have an increase of 200%+ (ie: 5 Million IQD purchased for $5,000 now would be worth $15,000 [at $3] so you would have made a profit of $10,000 - STILL NOT BAD) ... I'm still hoping it will be from the exchange rate... RON

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This was posted by Jeff later tonight, in response to the Article quoted by Pimpy above: *** Jeff *** Article: "To the executive branch to the Central Bank of Iraq This article is not from the Central Bank of Iraq...you can only trust and believe what the central bank tells you.  Not these other groups... 

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9 hours ago, ronscarpa said:

so, if they should LOP, then increase the value to $3+ we would have an increase of 200%+ (ie: 5 Million IQD purchased for $5,000 now would be worth $15,000 [at $3] so you would have made a profit of $10,000 - STILL NOT BAD) ... I'm still hoping it will be from the exchange rate... RON

Don't you think LOP should be done and implemented inside of iraq, not outside of iraq? Because LOP is the process of exchanging old dinar notes( before delete 3 zeros ) for new lower denom notes ( after delete 3 zeros) only right. Therefore, LOP is applied to iraqi citizens only ( there is no need for iraqi citizens to exchange for dollars unless the iraqi citizens wants to travel to the us or they want to emigrate and become a us citizens through asylum ). So if dinar investors want to exchange dinar for dollars in the us ( no need to exchange for new lower dinar note unless the dinar investors want to take a vacation to iraq or they want to move/emigrate and become a iraqi citizen).

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Okay I am going to explain this one last time!! Yes inside of Iraq it will absolutely be considered a lop as they will be required to exchange their large notes on a 1 to 1 basis just like Iraq has always said they would. But they will GAIN purchasing power that is all they gain which is still huge! All Dinar investors will NEVER be able to exchange for lower denoms period!!!! We will only exchange for our own currency in whatever country you are in so in America if the  new rate is say $1.17 they if you exchange 1 million dinar you will get $1,170,000 dollars!!

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47 minutes ago, Dinarrock said:

Okay I am going to explain this one last time!! Yes inside of Iraq it will absolutely be considered a lop as they will be required to exchange their large notes on a 1 to 1 basis just like Iraq has always said they would. But they will GAIN purchasing power that is all they gain which is still huge! All Dinar investors will NEVER be able to exchange for lower denoms period!!!! We will only exchange for our own currency in whatever country you are in so in America if the  new rate is say $1.17 they if you exchange 1 million dinar you will get $1,170,000 dollars!!

Thanks for your explanation.

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14 hours ago, jaybake said:

That's not how they explained it.  Come on.  It was real clear in what they say they would like to do with the exchange rate. one million is equal to one thousand dinar. 

 

jaybake, the article was NOT from the CBI...so it means nothing more than an opinion from someone. Don't give it more weight than it deserves...none..!

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16 hours ago, Dinarrock said:

Okay I am going to explain this one last time!! Yes inside of Iraq it will absolutely be considered a lop as they will be required to exchange their large notes on a 1 to 1 basis just like Iraq has always said they would. But they will GAIN purchasing power that is all they gain which is still huge! All Dinar investors will NEVER be able to exchange for lower denoms period!!!! We will only exchange for our own currency in whatever country you are in so in America if the  new rate is say $1.17 they if you exchange 1 million dinar you will get $1,170,000 dollars!!

Don’t thing one last tine is enough for the ill informed and guru flog brigade! 

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