Re denominate???

[BETTYBOOP]

4-13-2024  Newshound Guru Pimpy  My gut feeling is they're going to re-denominate and then change the exchange rate right after that to where it should be, somewhere around $3 and something cents per dinar.  I've got 5 million.  If it goes to $3 and something, I made $15,000.  I'm a happy camper with that.  It's better than not having anything.  I understand for a lot of you you're like, 'No. No. NO. that's not good because that's not what I had in mind.'  And I'm sorry but you're asking me my opinion.  That is my opinion.  They will re-denominate the currency, LOP off the zeros - your 25,000 dinar will become 25 and then they'll reinstate the old rate...

Edited April 14 by BETTYBOOP

[screwball]

1 hour ago, BETTYBOOP said:

4-13-2024  Newshound Guru Pimpy  My gut feeling is they're going to re-denominate and then change the exchange rate right after that to where it should be, somewhere around $3 and something cents per dinar.  I've got 5 million.  If it goes to $3 and something, I made $15,000.  I'm a happy camper with that.  It's better than not having anything.  I understand for a lot of you you're like, 'No. No. NO. that's not good because that's not what I had in mind.'  And I'm sorry but you're asking me my opinion.  That is my opinion.  They will re-denominate the currency, LOP off the zeros - your 25,000 dinar will become 25 and then they'll reinstate the old rate...

Well if they do and that’s big “if” then so be it….as I said don’t put all your eggs in the one basket

[cranman]

Always been a possibility.

 

[screwball]

2 minutes ago, cranman said:

Always been a possibility.

 

They can do what they want when they want…

[cranman]

A redomination and then a revalue gives the Iraqis more purchasing  power and makes the dinar stronger than tbe dollar.

 

Just saying it's a possibility.

 

No hyper inflation in Iraq,  BUT the CBI  can do what they want with thier currency. 

Edited April 14 by cranman

[screwball]

27 minutes ago, cranman said:

No hyper inflation in Iraq,  BUT the CBI  can do what they want with thier currency. 

Yep and investors still don’t get this! 

[cranman]

Just looking for an end to this ride.

We have no control of the outcome.

 

[rvmydinar]

2 hours ago, cranman said:

Just looking for an end to this ride.

We have no control of the outcome.

 

Agree. Noone ( including gurus ) knows until it happens. So just wait and see. 

[hspotman]

Where we've always been fearful of this, it's funny how only Pimpy says they will LOP. Unless there's been something that's been said lately by them that infers to this?

[8th ID]

11 hours ago, BETTYBOOP said:

They will re-denominate the currency, LOP off the zeros - your 25,000 dinar will become 25 and then they'll reinstate the old rate...

Shabibi had said that the notes we have now will stay in circulation for something like 5-10 years. They would be used for inter bank transactions and such. If that is the case, then these notes will have to maintain their face value. You can’t have a note that says $25,000 and say ‘no, it’s only worth $25’. That will not work for banking purposes. Could the scenario have changed since then. Sure it could have, but I doubt it. You don’t change horses in the middle of a race. 

[Dretown39]

11 hours ago, cranman said:

Just looking for an end to this ride.

We have no control of the outcome.

 

I'm looking for an end too..one of the reasons is so I don't have to come across negative/left field comments about this investment. This silly ongoing discussion about LOPS & so on is ridiculous! I

[Luigi1]

Luigi's opine:

There is a possibility of a hybrid RV.

A possible LOP of 3 zeros, at 1 to 1, then RV to $3 to 5 Dollars, after.

We walk away with a 300% to 500% profit.

My 52 million IQD becomes 150 to 250 thousand USD.

Not what I expected but I will take what I can get & be glad in it.

I believe I can live with that.

[Longtimelurker]

A LOP won't even scratch the surface of "Paying us back" for the war. Out of the question in my opinion. 

[ronscarpa]

59 minutes ago, Luigi1 said:

Luigi's opine: There is a possibility of a hybrid RV. A possible LOP of 3 zeros, at 1 to 1, then RV to $3 to 5 Dollars, after. We walk away with a 300% to 500% profit.

My 52 million IQD becomes 150 to 250 thousand USD. Not what I expected but I will take what I can get & be glad in it. I believe I can live with that.

 

I'm with you 100% Luigi. Something is better than nothing. As you say " Rejoice & be glad in it".  Pimpy simply affirmed what I've posted several times as a "worse case scenario", in light of his postings about a lop. RON  

[edbeach]

Well its looking more & more correct what Kaperoni has been saying all along if they delete the zeros would be a lop and not good for us investors. Now some are feeling there will be a lop by deleting the zeros reducing the dinar from 25000 down to 25 JMHO 

[NMP2017]

6 hours ago, 8th ID said:

Shabibi had said that the notes we have now will stay in circulation for something like 5-10 years. They would be used for inter bank transactions and such. If that is the case, then these notes will have to maintain their face value. You can’t have a note that says $25,000 and say ‘no, it’s only worth $25’. That will not work for banking purposes. Could the scenario have changed since then. Sure it could have, but I doubt it. You don’t change horses in the middle of a race. 

Which I take as meaning big bills like the 25k would ONLY be used by banks and NOT by people on the street. The average Iraqi would either have to turn it in for a $25 or it would only be valued at $25 if they tried to use it outside of a bank...

Edited April 14 by NMP2017

[NMP2017]

4 hours ago, Luigi1 said:

Luigi's opine:

There is a possibility of a hybrid RV.

A possible LOP of 3 zeros, at 1 to 1, then RV to $3 to 5 Dollars, after.

We walk away with a 300% to 500% profit.

My 52 million IQD becomes 150 to 250 thousand USD.

Not what I expected but I will take what I can get & be glad in it.

I believe I can live with that.

Yep me too! Just do something and get it over and done with already!

[BETTYBOOP]

12 minutes ago, NMP2017 said:

Which I take as meaning big bills like the 25k would ONLY be used by banks and NOT by people on the street. The average Iraqi would either have to turn it in for a $25 or it would only be valued at $25 if they tried to use it outside of a bank...

If they stick to the original plan, the large notes would only be used within the banks. But if the citizens exchange them for the lower notes they would still need to be given 25000iqd worth of lower notes. They can not just take in the larger notes and swap it out with a 25 iqd. If they plan to use the large notes in banks only then they still need to be worth 25000 iqd If they lop the zeros off the currency then they need to take in the large notes and they would not be able to use them in the banks because they would effectively be worthless. Now to my thinking , if they are going digital why would they need the larger notes for inter banking? Theoretically, they wouldn't because it would all just be numbers on the screen. It is possible they could do a lop in this manner but if they plan to use the larger notes then I can't see how they can lop. But I might be wrong . 

Edited April 14 by BETTYBOOP

[coorslite21]

What will happen, will be in the best interest of Iraq.

Use that thought process when you are contemplating any change in value....CL

[edbeach]

Shabibi escaped from Iraq from the ass/hol@ Maliki and now has been dead for some time> Iraq is presumable a sovereigh Country. Irac has made many changes since and do what ever they please and we have to accept it or burn our dinar. I certainly hope they follow thru with the RV but we don't really know what they will do concerning the dinar. As we have seen in the past that they care less about their people then why should they care about we investors.They could give us the shaft and save themselves millions of dollars. As I have said before I don't trust anything they say most of the government is pro Iranian puppets. I guess we have to wait & see. JMHO

[screwball]

5 hours ago, edbeach said:

I guess we have to wait & see. JMHO

💯

[JonnyV]

19 hours ago, coorslite21 said:

What will happen, will be in the best interest of Iraq.

Use that thought process when you are contemplating any change in value....CL

 

No.  It will look like that but it is in the best interest of the U.S.    That’s why there will be NO lop.  

[coorslite21]

1 hour ago, JonnyV said:

 

No.  It will look like that but it is in the best interest of the U.S.    That’s why there will be NO lop.  

I would have been in agreement with you in the past....BRICS is now a viable option....and perhaps even a more attractive one. Play the two against one another might be Iraq's best move...

CL

[rvmydinar]

On 4/14/2024 at 7:26 AM, BETTYBOOP said:

Pimpy  My gut feeling is they're going to re-denominate and then change the exchange rate right after that to where it should be, somewhere around $3 and something cents per dinar.  I've got 5 million.  If it goes to $3 and something, I made $15,000.  I'm a happy camper with that.  It's better than not having anything.  

Ok ok ok I believe your gut feeling pimple. No more talks and just do it as you please. When are you going to re-denominate the IQD? . I am waiting. Sooner is better.

[BETTYBOOP]

EEERRRMMM.... A REDENOMINATION IS NOT WHAT WE WANT