IQD

[IowaDinar]

Wink The process of deletion of zeros from the currency is an important step

November 21 2010

Karbala - morning

Between academic and an economist at the University of Karbala, said that the process of deleting three zeros from the Iraqi currency will lead to currency appreciation and to increase the purchasing power of citizens, pointing to the need to pursue policies to persuade people to calm and get used to it for a period not exceeding two years.

The Dean of the Faculty of Management and Economics at the University of Karbala governor Dr. Mohsen's (morning): The deletion of three zeroes from the Iraqi currency, which intends to apply the Central Bank of Iraq became a target and a national demand as a benefit of the Iraqi economy.

He added: Iraqi currency must be stabilized and take its place with the power of the Iraqi economy and increased oil imports and this requires the disposal of the cluster of digital circulation in the Iraqi market and that is in itself a problem stands in the development of the Iraqi economy "pointing out that the zeros that are added to the Iraqi currency to meet the economic blockade formed block cash exceeded 27 trillion Iraqi dinars, and this is what led to rising prices and confuse the business dealings and operations of banks and increase the capacity for fraud .. pointing out that the central bank's move is a step towards the correct solution of the Iraqi currency and the Iraqi dinar ..

He pointed out that this plan needed to follow the policies of quiet to persuade citizens to deal with, in the spirit of civilization, noting that the first steps is to issue two classes of currency and one paper of a class of one and the second category of a thousand dinars in order to instil confidence among citizens and enable it to deal with the new currency, but not more than this step for the year or two ..

He explained that the citizen has to know that the deletion of zeros would have been useful and beneficial because it will carry papers, reviews are few and raise the value of the currency and increase purchasing power and restore confidence in Iraqi dinars, as well as make a quantum leap in the Iraqi economy and operation of the economic resources to the agricultural sector, industrial, transport, services and storage and the development of Iraqi staff by following the policy of balanced economic and financial, as will step into an increase in the national currency, especially when traders rather than dealing with foreign currency and this means the power of the Iraqi dinar.

[MahiMahi]

Great Post!! These kinds of articles are very telling...

Kinda like my insomnia... <<<< That tells me the RV is coming!!!!!

[Triple xXx]

Deletion of the 3 zeros means exactly what?

25,000= 25?

OR

.000855=.855?

[MPG350]

I don't like all these articles about the Deletion of the 3 zeros makes me think we will get screwed.

[brandedbabe]

Deletion of the 3 zeros means exactly what?

25,000= 25?

OR

.000855=.855?

No country has ever had a currency with two different denominations carry the same value in a redenomination. It has not been done because it is not allowed. They would have to have an Exchange period with a whole new, new currency. Two redenominations in the same decade would also make this unique...not going to happen if it has never happened before...

[davdon]

I like "make a quantum leap in the Iraqi economy"

davdon

[TKM]

They will not take in a 1000 dinar note and give you a 1 dinar note no matter how much it’s worth…….it would start a civil war….

GO RV!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[DmsC]

Deletion of the 3 zeros means exactly what?

25,000= 25?

OR

.000855=.855?

This is only my opinion so take it for what it is worth. A deletion of the three Zeros from the currency IE 1000 IQD then equals 1 IQD is what is referred to as a lop and isn't a move forward. The removal of the 3 zeros from the nominal value Ie .00085 then becomes .85 I do think this is what is going to happen. I'm okay with 85 would have liked 3 but hey it is alot more than what I paid for the stuff.

[doc9574]

Since Im tired of posting what they told me about the "dropping of the zeros" why dont you call dinar trade and ask them about it, you might be surprised at the answer you get

[Wino]

Dropping the three zero's simply means that there will be a period (that they designate) to turn in the large bills with the three zero's on them, at which time they will be taken out of circulation by the CBI and replaced with smaller denom bills (those without three zero's). This would happen when they RV. You will not lose any money on the new rate when you cash in. Those large bills will simply disapear.

[Triple xXx]

This is only my opinion so take it for what it is worth. A deletion of the three Zeros from the currency IE 1000 IQD then equals 1 IQD is what is referred to as a lop and isn't a move forward. The removal of the 3 zeros from the nominal value Ie .00085 then becomes .85 I do think this is what is going to happen. I'm okay with 85 would have liked 3 but hey it is a lot more than what I paid for the stuff.

But in the past they said that they would not remove the zeros...

YES!!!!! I will be very happy with a .86.....1,000,000 IQD = $860,000..............VERY! VERY NICE!!!!!!!

Since Im tired of posting what they told me about the "dropping of the zeros" why dont you call dinar trade and ask them about it, you might be surprised at the answer you get

What did they say????

[JugDawg1]

Dropping the three zero's simply means that there will be a period (that they designate) to turn in the large bills with the three zero's on them, at which time they will be taken out of circulation by the CBI and replaced with smaller denom bills (those without three zero's). This would happen when they RV. You will not lose any money on the new rate when you cash in. Those large bills will simply disapear.

This is pretty much how it was explained to me by some very intelligent people whose knowledge and opinions I trust completely.

[Richguy]

Since Im tired of posting what they told me about the "dropping of the zeros" why dont you call dinar trade and ask them about it, you might be surprised at the answer you get

First of all, what do you think a dinar dealer is going to tell you, that there are going to LOP the zeros and you'll be lucky to get your money back? They are only going to tell you what will get you to buy more dinar. It's all about the money people, it ALWAYS is.

Frankly, there are two opposing schools of thought on this whole RV thing. I have a friend with a connection in the IMF who claims that this thing will go off big, just like all our gurus are claiming. It's the only reason I invested. We're talking 1 for 1 trade from the current bills to the new bills and a value on the new bills of $3.50 or higher per dinar. I have found this scenario difficult to swallow from the beginning as it is the ultimate example of 'too good to be true', but I hang onto a small glimmer of hope that it will happen this way.

The other school of thought is a LOP of course. And don't kid yourselves folks, a LOP means a 25,000 IQD becomes a 25 IQD, NOT a .86 cent RV. In this scenario we are looking at probably tripling our our investment based on a $3.50 RV. I DO NOT believe the dinar will come in below $3, so I am confident that I will at least make a 300% profit on my investment.

Looking strictly on what has been officially put out by the Iraqi government, one would believe that the LOP scenario is by far the most likely outcome, and even that probably won't happen for quite some time, one to two years if we are to believe the article above. Those supposedly 'in the know' would have us believe that this is all a smoke screen and that we will be millionaires by the end of the year, if not sooner. They claim Shabibi keeps denying a LOP, but back in June he was quoted as saying, "the process would not affect the strength of the dinar and these zeros will be removed gradually." By 'gradually' one would assume he's talking about an overlap period during which both old and new currencies would be in use, just like in 2003 when they went to the larger bills. Keep in mind though, back in '03 the older swiss notes were worth 150 new note dinar, so just because they bills may coexist for a period of time in the future, does not mean necessarily that they will have the same value per dinar. A 25K note may possibly have the same buying power as a new 25 dinar note. In fact, this is exactly what they keep claiming by saying they want to delete the zeros and have the new notes have the same buying power.

Logic tells me that a LOP makes a lot more common sense. Even the Kuwaiti dinar only went down to about 10 cents at its lowest point, which is over 100 times higher than the rate of the Iraqi dinar right now at less than 1/10 of a cent. The next two weeks should be very telling over there. If it's going to happen big, and if all the LOP talk is just a smoke screen, than I believe we are all going to have a really great Christmas. Unfortunately, those guys in parliment are just as likely to break out in a gun fight as they are to work things out between themselves. And so we wait...

[RICK C]

Personally I just hope they form the Gov, then RV at a resonable Rate , Hopefully Over the Dollar mark ,Then Maybe I'll be able to get some Sleep. This is getting me whoopey already.good luck to us all,. Now RV dang it.

[doc9574]

Well so far richguy the info I received has been true and until I see different thats what Im going with. If you look back at the history of the dinar you will see it almost always valued above the US dollar except after the war tore the country down. Maybe thats what your friends talking about. Now I heard all about the tv show instructing the Iraq people about the lower denoms, never came out and Ive yet to see the lower denoms. And if you think a lop is imminent then why are you hanging on, as I understand Ali will buy them from anyone and you will only have a slight loss, Iraq is too wealthy to have their currency be worthless

[Richguy]

Well so far richguy the info I received has been true and until I see different thats what Im going with. If you look back at the history of the dinar you will see it almost always valued above the US dollar except after the war tore the country down. Maybe thats what your friends talking about. Now I heard all about the tv show instructing the Iraq people about the lower denoms, never came out and Ive yet to see the lower denoms. And if you think a lop is imminent then why are you hanging on, as I understand Ali will buy them from anyone and you will only have a slight loss, Iraq is too wealthy to have their currency be worthless

I never said they would be worthless. I said I expected to at least triple my investment. Where else can you get 300% interest these days? Geez, you hard core guys are way too defensive. Mention anything less than a 1 for 1 swap to the new currency, plus an RV and you folks go ballistic. Nothing has been proven by the facts yet. We are all in a waiting game, in my opinion. Believe me, I WANT to be a millionaire out of this. I'm with you on that, just trying not to have any UNREALISTIC EXPECTATIONS. Peace.

[spok1]

at this point I will take 1/2 a cent just to get this over with.5000 per million thats ok with me.

[GaryB]

Deletion of the 3 zeros means exactly what?

25,000= 25?

OR

.000855=.855?

Dictionary definition of DELETE: –verb (used with object), -let·ed, -let·ing. to strike out or remove (something written or printed); cancel; erase; expunge.

What they are going to do is to REMOVE <Delete> the notes with 3 zero's from circulation. They have told us this will happen over a period of time, most likely 2 years, where both sets of notes (the current higher denom's and the new lower denoms) will be in circulation and good for that period of time. This is the very reason WHY you can be assured there will be no lop and the value of your current notes will be there when they RV/RI. Your in good shape. Be happy and feel blessed for this opportunity.

[MPG350]

no offense spok1......this statement though is why.86 makes sense. How many people will run out the first day and RV at .86 only to find over the course of time, the value rises higher....

like I said no offense, I actually agree with you, based on what I paid for it, does it really matter?

Unless they put a time frame and you have to cash in your dinar which they will most likely do since they wil want to remove the large bills.

First of all, what do you think a dinar dealer is going to tell you, that there are going to LOP the zeros and you'll be lucky to get your money back? They are only going to tell you what will get you to buy more dinar. It's all about the money people, it ALWAYS is.

Though some will say if we were most likely going to make 300% profit dealers would pump this so they would sell mor dinars

Time will tell I guess and I think we find this year.