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CBI GETTING READY


Don Paul
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Sunshinelvr ... I forgot to say that fils are totally useless without an RI/RV ... after all the smartcards loaded with 250 Dinar are presently worth only about $.21

In other words to pay with fils wouldn't take a wheel barrow load but a pickup truck load! ... lol ... still subject to an "I told you so"!

Peace

Doc31

Doc, I'm guessing it's 250 US dollars and not dinars. But sure wish you were right.

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Truckdriver...................the $3.22 you referred to will be displayed in the following manner after the RV (if in fact the rate is $3.22):

1 USD .3105 IQD

The CBI website wil show the rate per 1 USD......as it does presently.

I don't understand this. Can you please explain how you got the .3105 IQD per dollar if it revalues at $3.22? I'm terrible at math.

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I don't understand this. Can you please explain how you got the .3105 IQD per dollar if it revalues at $3.22? I'm terrible at math.

If you take the .3105 x 3.22 = .99981 US dollars. There is your $3.00 US.

Edited by NC22
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If you take the .3105 x 3.22 = .99981 US dollars. There is your $3.00 US.

Here's the proper math: 1 USD = .3105 IQD. You divide 1 by .3105 and this is equal to 3.220612 or $3.22. This is the only way it's done and the correct way. Figuring it in any other manner and you'll get the wrong result. You really need to be up on this math to truly understand your investment. Let me make it really simple: 1 divided by .25 = 4, meaning it takes four (4) units of .25 to equal one (1). Enough math because it's

RRRRRVVVVVVVVVVV :woot: T T T T T T T T I I I I I I I I I M M M M M M M E E E E E E E E E :woot: :woot: :woot:

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Doc, I'm guessing it's 250 US dollars and not dinars. But sure wish you were right.

My question is, why would they be dollars? I mean, these smart cards are in their own country, not the US. So Why would they load their own cards with US dollars, when their "dollar", the dinar will be revaluing soon?? just a thought. :blink:

Edited by VanessaL4100
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Here's the proper math: 1 USD = .3105 IQD. You divide 1 by .3105 and this is equal to 3.220612 or $3.22. This is the only way it's done and the correct way. Figuring it in any other manner and you'll get the wrong result. You really need to be up on this math to truly understand your investment. Let me make it really simple: 1 divided by .25 = 4, meaning it takes four (4) units of .25 to equal one (1). Enough math because it's

RRRRRVVVVVVVVVVV :woot: T T T T T T T T I I I I I I I I I M M M M M M M E E E E E E E E E :woot: :woot: :woot:

The REAL AMOUNT you want to aim for is: Divide 1 by 0.2590 and it will equal $3.86 per Dinar. So, just look for the window of 0.3105 to 0.2590 ... Hope this helps you out better

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The REAL AMOUNT you want to aim for is: Divide 1 by 0.2590 and it will equal $3.86 per Dinar. So, just look for the window of 0.3105 to 0.2590 ... Hope this helps you out better

So in other words we want numbers to the right of the decimal, and the SMALLER that number, the LARGER per dollar rate exchange we're looking at. wOOt I think I get it now. :)

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Truckdriver...................the $3.22 you referred to will be displayed in the following manner after the RV (if in fact the rate is $3.22):

1 USD .3105 IQD

The CBI website wil show the rate per 1 USD......as it does presently.

You are absolutely right. We want it to show 1 USD = .3105 or less. The smaller the fractional number, the greater the number of USD per IQD. I noticed this morning (Sat. Dec 11th) that the CBI quotes have not changed since 12/09. They added three decimal places to all quotes and then they have remained unchanged. Interesting. Could a major change be coming this weekend? We'll see. GO RV.

Edited by Captjohn
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You are absolutely right. We want it to show 1 USD = .3105 or less. The smaller the fractional number, the greater the number of USD per IQD. I noticed this morning (Sat. Dec 11th) that the CBI quotes have not changed since 12/09. They added three decimal places to all quotes and then they have remained unchanged. Interesting. Could a major change be coming this weekend. We'll see. GO RV.

Which quotes are you speaking of? The currency exchange rates on the home page of CBI.iq?

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Hi Shy,I completely agree with you.perfect explanation.I also feel that a graduated or gradual increase in value is best for the economy of Iraq because of the simple fact that it entices international investors to invest anticipating further gains in currency terms as well as their gains in the stocks or other investment vehicles.This is exactly what I do,when I invest internationally,I was investing in Canada when the loonie was .65 on the USD because I knew it was poised to rise,same thing I do when I see the NZ dollar down in the .55 cent range

This makes business sense for Iraq.New investors will flood in the ISX so get in before the masses and turn you $$ into a fortune.You will also make money on the currency appreciation as the stocks explode to the upside.

Blessings

Thanks for the support!!

I have been thinking about opening an Iraqi bank account and depositing the million dinar. I'm wondering if having a Million dinar in the digital world would translate out to 1,000,000 dinars after the redenomination. So rather than having 1 million in paper, I would convert it to digital units. Would they redenominate those digital units as well?

Edited by Shylmysten
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I watch the CBI website everyday -- mostly due to my unhealthy addiction, trying to WILL the RV to happen. However, this morning, the exchange rates on the website now have 3 decimal places. Normally they did not have any decimal places. Previously the IQD rate for 1 USD was 1170 on the sell side. Today it is 1170.000.

My Take: this is a change in the format of the numbers.

Why change the format?

Well you need to have the additional decimal places if they become needed. Remember, most of us are hoping for an exchange rate of 0.322 or thereabouts.!!

Just an FYI

www.cbi.iq

Actually Don this was like that back in Sept. Someone had a post on it about 2 weeks ago and saved a pic of the site back then a was the same. Look at the date on the link below.

God Bless

Blanc

http://i.imgur.com/yVTvB.jpg

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I agree with Doc 31 on this one all the way! not only that i sugest some of you brush up on your 4th grade math.My daghter is seven and doing math at a fourth grade level and they are teaching her the values of places to the left and right of the decimal point and how this moves.I'm not slammin anyone, just sayin.If your ratio is 1 usd to .3000 dinar your $1 usd will buy 1/3 of 1 dinar or $3 usd buys 1 IQD.I only say this because you will will potentially lose hunreds of thousands with a mistake.So if you can't catch a mistake buy a bank or exchange office you could lose big!All you are really doing is flip flopping the the equation by moving the decimal place to reflect the result of the equation.1/.3222=3.22

Example : 1usd=.322 iqd or 1 iqd = 3.22 usd

Hope that helps!

To shymysten ,I beleive you are in correct in your explanation of The 25000 IQD note becoming worth the same as a 25 Dinar note. Heres why.What your suggesting is devaluation of the 25000 Iqd note.Re valuation has only to do with a currancy's over all value.If you take a 25000Iqd and redenominate it to be worth or equal to a 25 dinar you have just robbed some one of 24,975 dinar because the value has been changed on the note.IT would be like saying your $100 bill now only has the buying power of a $1 bill .You would lose 99 dollars or 99% buying power.This would only make things far worse for the iraqi people or any country for that matter. Jmo B)

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I'm not slammin anyone, just sayin.If your ratio is 1 usd to .3000 dinar your $1 usd will buy 1/3 of 1 dinar or $3 usd buys 1 IQD.I only say this because you will will potentially lose hunreds of thousands with a mistake.So if you can't catch a mistake buy a bank or exchange office you could lose big!All you are really doing is flip flopping the the equation by moving the decimal place to reflect the result of the equation.1/.3222=3.22

Example : 1usd=.322 iqd or 1 iqd = 3.22 usd

Actually, this is incorrect... An RV rate of $3.22 would mean 1 USD == 0.3105590062111801 IQD....

Edited by Les Klingel
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Shylmsten - i am wondering the same thing! If they LOP the 3 zero's, we will make around 3 - 4 times original investment.

I am thinking this is what we are realistically looking, but I am hoping for the better like everyone else, but I just can't see this country paying out millions/billions/and possibly even trillions of US Dollars to investors/speculators. The economy would collapse.

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To shymysten ,I beleive you are in correct in your explanation of The 25000 IQD note becoming worth the same as a 25 Dinar note. Heres why.What your suggesting is devaluation of the 25000 Iqd note.Re valuation has only to do with a currancy's over all value.If you take a 25000Iqd and redenominate it to be worth or equal to a 25 dinar you have just robbed some one of 24,975 dinar because the value has been changed on the note.IT would be like saying your $100 bill now only has the buying power of a $1 bill .You would lose 99 dollars or 99% buying power.This would only make things far worse for the iraqi people or any country for that matter. Jmo B)

I hope I am wrong, but a paper note is just a UNIT OF MEASURE. In adding a NEW paper note, they must also add a new unit of measure. There is no other way to do this and also keep the value of the old notes. And by their own words, they have made the comparison of the 2000 meter = 2km being equivilant. This way the two paper notes could coexist as they say they will, and they will not lose their value. It bothers me that this IS a dinar however, but they can call it whatever they wish, their country, their currency. They could care less what we think. But again for a 25k note to coexist with the new 25 note, and for them to be equivilant, removing the 3 000's, what must happen is a new unit of measure must be introduced. So they remove 3 000's from the new note and create a new unit of measure that is now an equivilant to the old 25k note. Just like the 2000 meters = 2km example the CBI gave themselves in an informal announcement of their plans to remove the 3 zeros. Its the only thing that makes sense. Don't get me wrong, I am seriously holding out a sliver of hope that I am misinterpreting their own words and what they intend, but it seems pretty clear that this is what they are talking about doing.

So when you go to cash in/exchange your old 25k note for the new 25 note, you will get 40 new 25 dinar notes in exchange for the 40 old 25k dinar notes. Like giving 40 bags of 25000 pennies each, you still have the same amount in dollars, its just a different unit of measure in the currency. Its still 1,000,000 pennies, and equivilant to 1000 dinar in the new 25 dinar notes. If they revalue as everyone is talking about, between $1.134 - $3.208 you are still going to make a small profit. Bankers are a practical lot, and this sounds like a scheme they would come up with to save themselves a huge payout, and honestly, it just makes sense when considering what the worth of those 25k notes would be if a revalue came without a denomination first. I sincerely hope I have misinterpreted this, but I am pretty confident that I am correct in their concept of PAPER money. Remember, we aren't dealing with SOLID money, like gold or something like that...Paper money holds a value of whatever a government says it is. That's the difference.

Look at our government, They say the dollar is still worth a dollar, meanwhile printing money like banshees. Commodity prices are going up and if you look at the forex markets, the dollar has lost significant value next to other currencies. There is a good read on the history of money, and countries debasing currencies written by a guy named Chris Weber. He is considered the Greatest Investor in the history of the Global Markets. His forte is foreign currencies and precious metals. He has worked 1 job in his entire life - a paper boy. You can read his report here: http://www.weberglobal.net/Historyofmoneycompleter.pdf

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shymysten, i appreciate your point of veiw and thanks for not freaking out when someone disagrees with you.The other thing your not taking into account is the other denominations of their currency are already printed.At worst they will ghive people a time limit for trading their 25000 Dinar note for 25 dinars equal in value to the 25ooo dinar note witch dosen't rob the people or de value the currancy.Both denomination's can exist with one another with the same unit of measure quite easily.Your scenario may have been used before like Pres. chavez did.This however is highly unlikely in iraq for many reasons.I don't see them pulling off stealling 24,975 dinar from it's citezens and other countries without the UN. US. IRAQI's not revolting over it.They will have to give every person what that 25000 dinar is worth as an exchange scenario or do as the article states slowly pull the larger notes out of circulation as the 2 notes coexist with the other.Just like they have done in the Us. with the $1000 ,$500 bill.They didn't just say sorry we're going to give you a dollar for your 1000 dollar bill.This tactic is so unnessasary for them.All they do is give their currancy a re-instated value or re- denominate the currancy's value above or equal to the USD and it will become pointless to hold onto the larger Dinar note;because now your walking around with way to much cash or puchacing power in your pocket for it to be usefull to use the 25000 denom's just like it would be way inconveiniant to tote a truckload of 25 dinar notes around for grocery needs.Either of these two make day to day buisness impossible.Also the Iqd is going to be a globely traded currency,they want foreign investor's to keep coming to rebuild Iraq, they want their currancy back to previous level's so they have greater buying power for import's.If they leave the 25000 dinar note in play until after RV their people have money to spend. Real money,not 20 buck's extra for the Bar on friday afternoon. :lol: This will fuel the internal economy and put many back to work and giverise to many old and new buisnesses in Iraq.

Ther are many logical reason's why i disagree with your scenario,but i'am not a banker or a country maker.I really hope that i'am not incorrect in my thinking .But like you i'am confident i'am not,for far more reason's than written here.This very subject has been discussed heavily on DV even before the article with selah put out the confusingly worded statement's [or bad translation at the least] talking about removing o's from the currency.Shabibi actually came out and stated to the media what you are talking about will not happen.Don't know the link but it was greatly cellabrated in the forum chat's and used as a pounding tool in the lopp debate about 4 to 6 monthe's ago. I looked at your link and it is interesting.Some one gave you a negative i guess for your point of veiw .I 'am going to give it a + because this is what this site is about different point's of veiw even if i don't want to agree with you! :D Thank's for the reply and i hope i gave you a new perspective to look at.Peace and have a Merry Christmas B)

Yes les i know the math, i was just using rounded off number's for a simplified example for those earlir in the post who clearly had no idea how to do the math, hoping to cause less confusion using a rounded figure .

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Hi,

New member here, but I have been reading this forum for some time, just never posted. I am kind of bummed, about the three 000's thing and though I would finally add my thoughts on all this and let you all beat me up :P

We are seeing the three 000's here for a reason. They released a really good article the other day about Units of measure as in 2000 meters is not less in value to 2km. So they are trying to acclimatize you to the change. They are trying to explain themselves and giving examples of what they have in mind because they understand the "loss in translation". Currency is a unit of measure and thus they are telling you that Paper Money is just one way to measure those UNITS as is their coin. Are they going to Lop or Revalue is the question...a revaluation would bean 1 USD = .000855 IQD. Moving those decimals would be revaluation 1 USD = .855 IQD.

However, what they are proposing is redenominating and having those two units of measure exist together. Thus a 25k IQD note would equal the NEW 25 IQD. There is no loss as they were trying to explain in the 2km = 2 meters. They are just using different UNITS OF MEASURE in redenominating the currency. Eventually the 25k notes will be exchanged and destroyed and the new 25 IQD will replace it.

So what we are looking at IS a revaluation, with a redenomination, or a NEW UNIT OF MEASURE added to the currency in the new notes they are currently creating.

So what we are looking at is the lop that will be explained away as UNITS OF MEASURE.

EXAMPLE:

Remember we are speaking in UNITS OF MEASURE

Currently The UNIT OF MEASURE is as follows:

If you have 1,000,000 dinars in 25k notes, you would have 40 notes (Paper Money)

Thus, with the redenomination

1000 dinars in the NEW 25 Dinar notes would also be equal to 40 notes (Paper Money)

Think of the 25k note as a US penny and the new dinar note as a US Dollar. Both the Penny and the Dollar are Units of measure.

What they are talking about doing is taking Trillions of Dinar (unit of measure) out of circulation by removing the unit of measure and reducing it to Billions of Dinar (Unit of Measure).

1,000,000,000,000.00 = 1 Trillion dinars (Unit of Measure)

1,000,000,000.00 = 1 billion dinars (Unit of Measure)

This is called redenomination.

After they redenominate their currency by adding the NEW Units of Measure (25k dinar notes = NEW 25 dinar note), only THEN will they move that OTHER decimal we are all hoping for.

Currently

1 USD = 1170. 000 OR .00085470085470085470085470085470085 IQD = 1 USD

After Revaluation

1 USD = 1.17 IQD OR .85470085470085470085470085470085 IQD = 1 USD

The news stories have been very clear in the fact that their will be a GRADUAL revaluation, which means there will be several more RISES in the Dinar after the first.

Now I'm not saying they are going to revalue 1 USD to 1.17 IQD, That is just the example of moving the decimals IN a revaluation and the difference between a redenomination of the currency they are talking about and the revaluation of the currency we are all hoping for.

And that is my Understanding of what is about to take place from all the news and statements from the IQD and IMF.

Now let me put on my flack jacket before you start blasting me.

Hey Shy, I agree with 30 at 50 and for the same reasons. Good job!!

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