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Dropping of the 3 Zero's by the end of 2010

Plasticsman

By Plasticsman,
in LOPster tank

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Plasticsman Newbie

Plasticsman

Posted
Posted

Bad news for us!

I just read an article on XE.com ( Dated 12/27/10) saying that Iraqi will drop the 3 Zero's by the end of 2010 and both the new currency and the old will remain in use until all of the larger bills have been removed. Even if they RV by the end of 2010 at lets say $3.20, the return will be minimal for the investment. Not even a fraction of what we wanted. Looks like we all were dupped into investing in Iraqi for rebuilding, but then they pull the rug out from under us. As for now who cares if they ever RV..................................................................................................................................................................................................

Plasticsman - You have no idea what you're talking about in your remarks above. At this point, just be quiet, listen, read, and learn. You are fortunate to be in this investment - if you really are (own IQD). Your opinion expressed is so far off base that it's laughable. This fact can be confirmed by reading the remarks others are making below. I put this here hoping others will no longer penalize you with (-1) ratings. Best of luck, hang in there, and have a Happy New Year. - A FRIEND

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Shylmysten Newbie

Shylmysten

Posted
Posted (edited)

Bad news for us!

I just read an article on XE.com ( Dated 12/27/10) saying that Iraqi will drop the 3 Zero's by the end of 2010 and both the new currency and the old will remain in use until all of the larger bills have been removed. Even if they RV by the end of 2010 at lets say $3.20, the return will be minimal for the investment. Not even a fraction of what we wanted. Looks like we all were dupped into investing in Iraqi for rebuilding, but then they pull the rug out from under us. As for now who cares if they ever RV..................................................................................................................................................................................................

Where's the link?

All I see is an artice dated Feb. 06, 2010

Edited by Shylmysten
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dinarokie Newbie

dinarokie

Posted
Posted

Wow you guys are fast. For my first post I was going back to my own research to debunk this and by the time I got back you handled it. Ive been reading for a while but decided to join the fun today.

lol .... they are even faster to bash you if you post something old or post something in the wrong forum .... welcome to dv ....enjoy your stay, dont forget to check out the chat room

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tjmunson Newbie

tjmunson

Posted
Posted

First of all, by removing the zero's, it does not make the existing notes any less valuable. A 25,000 dinar note would still be worth 25,000 dinar. What the removal of the three zero's does is simply make lower denomination notes available due to the fact that the dinar's value would increase to a point where the larger notes would not be needed. We would then cash in our notes, get our money and the notes would be returned to the Iraqi banks and taken out of circulation.

Think about it. You are in Iraq and need to buy some lettuce to make a salad (post RV). You go to the grocer and hand him one of your 25,000 dinar notes which would now be approx worth $75,000. How the heck is supposed to give you change for a $75,000 note?!?!

You are thinking that the 25,000 dinar note would only be worth 25 dinar if they remove the zero's. NOT TRUE. They would be removing the zero's from the newer currency only!

Keep the faith, my brother. This is a kooky, crazy and wild ride we are all on. Don't get caught up in the hype. It's gonna happen. It's just a question of when. Can the country that is sitting on one of the largest oil reserves in the world as well as possibly the largest reserve of natural gas really have a currency valued at less than 1/100th of a penny.......ummmm, NOPE!

Let faith, patience and intelligence lead the way.

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sneakey Newbie

sneakey

Posted
Posted

That's why I just sit quietly and read! :P

It's perfectly safe to post here without being flamed. Just don't make inflamatory statements with nothing salient to back them up with.

If this guy had a decent legit link, people would have still hated the post. I bet the replies would have been ..."nice find" instead.

If your the kinda person that likes putting sticks into hornets nests, then by all means knock yourself out. Just don't wine to me about the bee stings.

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Frank61 Newbie

Frank61

Posted
Posted

Bad news for us!

I just read an article on XE.com ( Dated 12/27/10) saying that Iraqi will drop the 3 Zero's by the end of 2010 and both the new currency and the old will remain in use until all of the larger bills have been removed. Even if they RV by the end of 2010 at lets say $3.20, the return will be minimal for the investment. Not even a fraction of what we wanted. Looks like we all were dupped into investing in Iraqi for rebuilding, but then they pull the rug out from under us. As for now who cares if they ever RV..................................................................................................................................................................................................

Plasticsman - You have no idea what you're talking about in your remarks above. At this point, just be quiet, listen, read, and learn. You are fortunate to be in this investment - if you really are (own IQD). Your opinion expressed is so far off base that it's laughable. This fact can be confirmed by reading the remarks others are making below. I put this here hoping others will no longer penalize you with (-1) ratings. Best of luck, hang in there, and have a Happy New Year. - A FRIEND

Penalty........LOP TALKING !!!

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Seff Newbie

Seff

Posted
Posted

People... seriously, it isn't that hard to figure out.

.00085 becomes .85

25,000 becomes 25

All it is done for is to get the paper money a little more credible. It's like they are using monopoly money now.

YOU CAN'T MAKE MONEY OUT OF THIN AIR!!! Somebody show me what would back the almost 100 TRILLION dollar RV (usd)

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