Iraqi Finance: Delete the zeros from the currency will strengthen the position of Iraq to the International Monetary

[Robinsnest]

Not this again. Lord, please help us all.

[AFvet]

This subject has been around many, many times. Disinformation before the reval.

[djiboutikid]

This is NOT a good thing.....this is BAD......changing currency is BAD.....this would leave us with nothing except maybe what we started with......

I don't know how much you purchased, but to go from a thousand dollars to say 858,000 dollars would be pretty darn good to me... I would take the removal of the three zero action... although I'd rather it was 3 something instead of 85 cents per dinar... but RV is good

[WhiteKnight]

The Article did say in country currency.........didn't say anything about currency outside there borders........just wondering how it would effect us? I have heard this b4 so hoping it's just talk again but u never know.

[grapeape]

removing the zeros might mean taking large denominations off the market.

[nashdinar]

This is Iraq and anything is possible. Article states in country currency. Says raise three zeros. How do you interpret them. Well go back to the lop section and read all this stuff that has been tabled. Either they will rv at .86. or they will remove zeros off value RD and the rv at $3-$4. Either way you will make more money than what you put into this. I myself want to have a 25,000 note worth $3.44 on an RV. That is one awesome scenario and a once in a lifetime event. Hoping and praying. Stay grounded everyone. GO GOI>>>>GO RV!!!

Edited November 18, 2010 by nashdinar

[CaptainRon]

If three zeros are removed from the paper currency, what happens to the value of the 500 250 100 and lower dinar?

Do they become fractional dinar?

Edited November 18, 2010 by CaptainRon

[larry143]

Not to stir a ruccus but, It would be easier to read some of these posts if "some" could maybe proof read your stuff. I just have trouble sometimes with a lot of spelling and grammar issues. It really makes it hard to decifer what your (you're) trying to say. That it what I mean....get it? If not, than (then), I'm sorry.

[Soup]

The CBI and GOI and many times shown their intention to rid the currency of the zeros. Many countries have done this in the past, no gain or loss in value. The problem is how one will exchange their currency if they only will exchange it in Iraq.

Excuse the "Noob" question here... but if I understand your statement here, you are saying this is simply a statement saying the Iraqis want to exchange the bills with a large number on them in for currency bills without the three zeros. In other words, a single $25,000 Dinar note could change for 25,000 individual $1 Dinar notes. Is that what your saying? If so, then this article is not about any RV or value at all, just the styles of currency.

Am I reading into this wrong?

[Soldier]

I cant find the post but I recall someone explaining that a lop of the 000's would require a lop of the 000's on both side of the decimal points. in that case, 1 dinar = .86cents. Probably talking out my rear end but I'm pretty sure that was discussed somewhere in detail. Anyone recall that by chance?

I clarified this comment a while ago. Everyone here agree's there has to be a RV. Some of us think there is a slim chance it will happen like the pumpers say. Most people you call naysayers are more of the realistic people who don't think your going to be a zillionaire overnight like most of you think. Will all see next year.

If three zeros are removed from the paper currency, what happens to the value of the 500 250 100 and lower dinar?

Do they become fractional dinar?

You mean like our cents. Yes exactly. lol

I totally agree. We were told over and over there would me misinformation put out just before it happens.

You are told this by pumpers who are believed to be scam artist by all the smart people. Which side are you on. lmao

[hopefullbk]

I clarified this comment a while ago. Everyone here agree's there has to be a RV. Some of us think there is a slim chance it will happen like the pumpers say. Most people you call naysayers are more of the realistic people who don't think your going to be a zillionaire overnight like most of you think. Will all see next year.

You mean like our cents. Yes exactly. lol

You are told this by pumpers who are believed to be scam artist by all the smart people. Which side are you on. lmao

Just for the record, I didn't call you anything, much less a naysayer. I respect your opinion, I would just simply ask you to be sure who you are quoting when you make statements like that. Thanks.

[Loingsign]

Not to stir a ruccus but, It would be easier to read some of these posts if "some" could maybe proof read your stuff. I just have trouble sometimes with a lot of spelling and grammar issues. It really makes it hard to decifer what your (you're) trying to say. That it what I mean....get it? If not, than (then), I'm sorry.

He's right. It makes it difficult to take anything people say when they misspell simple words. Especially with auto-spell and spell check. /end rant

Isn't our purchased dinar a contract of sorts that has to be upheld? What about the Iraqi people that still have 000 dinar? Their own govt will tell them too bad, your money's not worth as much as you thought anymore? No. They've said before they would honor the value when traded in, and the value will be kept the same. JM Humble O

[R00ster]

removing the zeros might mean taking large denominations off the market.

Thank you, Captain Obvious

[hopefullbk]

I clarified this comment a while ago. Everyone here agree's there has to be a RV. Some of us think there is a slim chance it will happen like the pumpers say. Most people you call naysayers are more of the realistic people who don't think your going to be a zillionaire overnight like most of you think. Will all see next year.

You mean like our cents. Yes exactly. lol

You are told this by pumpers who are believed to be scam artist by all the smart people. Which side are you on. lmao

I should go one step further and point out the fact that I didn't/haven't called you or anyoneelse a naysayer as your comment seems to imply. Please be accurate moving forward. Thanks.

[QTen]

From a Fairness perspective....Was it fair for the international community to DEVALUE the Iraqi Dinar in 2003 from 1 dinar=$3USD to 2,400IQD=$1USD??? That's a DEVALUATION of some 60,000%. So YES i believe in FAIRNESS that the IQD will be restore to its pre-war value of 1IQD=$3USD. What's fair is fair.

[Raleighwood]

I don't know how much you purchased, but to go from a thousand dollars to say 858,000 dollars would be pretty darn good to me... I would take the removal of the three zero action... although I'd rather it was 3 something instead of 85 cents per dinar... but RV is good

Removal of the zeros is NOT from the exchange rate....its from the bills.......removal of three zeros = LOP = Redenomination......look it up....thats how it works....am I saying this is going to happen? NO.....do i want this to happen? NO....but thats what removing the zeros is....Alot of people here are misinformed about what removing the zeros or redenomination really is.....its NOT a good thing period......

There will be no LOP! How many times has this been beat into the ground. Removing 3 zeros from the value of the cuuency does not mean LOP. .00086. Remove trhee zeros and you get . 86. That is how it is done. Naysayers learn to research this topic is all over DV posts.

Sounds like you need to maybe go back and read up on what removing the zeros really is.....its a redenomination....and its mostly done WITHOUT changing the value of the currency....you are mistaken....its not taking three zeros off the exchange rate....thats what nonsense gets passed around on these dinar forums as fact when its really false information.....you should look up redenomination and really read how that works....removal of three zeros = LOP= Redenomination......Again, let me repeat that Im not saying this is whats going to happen or that I want it to happen.....but you cant continue to call an apple an apple when its really and orange......

[Soldier]

I should go one step further and point out the fact that I didn't/haven't called you or anyoneelse a naysayer as your comment seems to imply. Please be accurate moving forward. Thanks.

Quit thinking buddy. Most people refer to me my screen name as a naysayer because I don't think its going to happen like the pumpers (Those people who have no souces but claim they do and say tomorrow, no tomorrow, i mean tomorrow. You'll catch on eventually) say its going to happen. I hope this clarified everything.

[hopefullbk]

Quit thinking buddy. Look at the post again. I never said you called me a naysayer. I simply said people refer to me my screen name as a naysayer because I don't think its going to happen like the pumpers (Those people who have no souces but claim they do and say tomorrow, no tomorrow, i mean tomorrow. You'll catch on eventually) say its going to happen. I hope this clarified everything.

Not going to argue with you about it. If you read for first post in which you quoted me, you clearly said, "Most people you (that would mean me) call naysayers"..... Go back and review if you would like. I have no problem with your opinion, I would just prefer you not mis quote me. Not looking for any other than to make my point clear. Thanks Soldier and have a good day.

[dlb]

Removal of the zeros is NOT from the exchange rate....its from the bills.......removal of three zeros = LOP = Redenomination......look it up....thats how it works....am I saying this is going to happen? NO.....do i want this to happen? NO....but thats what removing the zeros is....Alot of people here are misinformed about what removing the zeros or redenomination really is.....its NOT a good thing period......

Actually, there are two different kinds of "LOPS". A currency lop would lop the last 3 zeros off the currency - thus 25,000 note worth 25. An exchange rate lop would mean lopping first three zeros off exchange value (or .00085 to .85).

In this case, the article is speaking of a 'currency' lop.

Edited November 18, 2010 by dlb

[keepmwlknfny]

Actually, there are two different kinds of "LOPS". A currency lop would lop the last 3 zeros off the currency - thus 25,000 note worth 25. An exchange rate lop would mean lopping first three zeros off exchange value (or .00085 to .85).

In this case, the article is speaking of a 'currency' lop.

No such thing as an exchange rate LOP.....The term LOP isent even a real word....it refers to a redenomination....

[tyro]

hopefulbk, I don't think Soldier was specifically referring to "you". He used the generic "you" as in, if describing the best way to drive somewhere he might say, "You go down Mottman a mile until you get to the T in the road. Then you turn left." He might have said, "One drives down Mottman a mile until he/she gets to the T in the road." Most people would think he was nuts or being prissy to speak like that. It's just a colloquialism. Hope you won't take it personally, even though I understand how people may be on edge.

[Raleighwood]

Actually, there are two different kinds of "LOPS". A currency lop would lop the last 3 zeros off the currency - thus 25,000 note worth 25. An exchange rate lop would mean lopping first three zeros off exchange value (or .00085 to .85).

In this case, the article is speaking of a 'currency' lop.

A LOP is a made up term that we are throwing around here on these sites like its a legit word.....it means redenomination.....you cant redenominate the exchange rate.....so there is not way you can "LOP" the exchange rate.....there is only 1 kind of LOP my friend....and its the one that we dont want!!!

[splicer09]

A LOP is a made up term that we are throwing around here on these sites like its a legit word.....it means redenomination.....you cant redenominate the exchange rate.....so there is not way you can "LOP" the exchange rate.....there is only 1 kind of LOP my friend....and its the one that we dont want!!!

Sorry professor but you are not as educated on this as you may think. Appreciate the laugh though.

[hopefullbk]

hopefulbk, I don't think Soldier was specifically referring to "you". He used the generic "you" as in, if describing the best way to drive somewhere he might say, "You go down Mottman a mile until you get to the T in the road. Then you turn left." He might have said, "One drives down Mottman a mile until he/she gets to the T in the road." Most people would think he was nuts or being prissy to speak like that. It's just a colloquialism. Hope you won't take it personally, even though I understand how people may be on edge.

I'm not on the edge at all. Just to be clear, he included comments from me in his post, so in my opinion, he was referring to me....If not, then there would have been no need to include and quote my comments in his post. It's really no big deal as I think I've made my point. Thanks though, i appreciate your input.

[splicer09]

A LOP is a made up term that we are throwing around here on these sites like its a legit word.....it means redenomination.....you cant redenominate the exchange rate.....so there is not way you can "LOP" the exchange rate.....there is only 1 kind of LOP my friend....and its the one that we dont want!!!