Here we go again from another site, LISTEN PEOPLE NO LOP PERIOD!

[BryanGT3RS]

If the Iraqi currency is supposed to be taken seriously and 'traded' globally, the Lop makes no cents....or is that Dinars.

[MPG350]

IT`S HARD FOR ME TO BELIEVE THAT IRAQ WILL CHANGE THE CURRENCY IN THE WAY YOU DESCRIBE AS IT WOULD HURT THE IRAQI PEOPLE EVEN MORE THAN IT HURTS US,,,WE ARE INVESTERS,,,THEY ARE NOT,,,THEY WILL BE TAKING THERE MONEY AWAY TOO,,,IS THAT NOT TRUE....HOW DO THEY JUSTIFY THAT TO THERE PEOPLE ???

It would be a wash, instead of 1000 dinars for a coke it would cost 1 dinar

[JLT]

Why is it that everyone with a bogus rumor always writes in perfect english, as if they are paying someone to write these things. First off i would like to know which branch he went to? I mean really? Unless this dude is Iraqi hes not rolling around going to the bank, i can tell ya that.

[codeman]

JMO but seems to me that the lop talk is just to get people to buy more. If a lop happened that would be a major currency devaluation instead of a revaluation??

[leola]

What we need to do is convert all our dinar into small denominations,,,50,,,250 and 500 dinars,,,is this possible????

[wishwell11]

"Listen People NO LOP Period!"

Wishwell11>>LOL>>>>>hanging head, pointing to Adam>>>"Well, he started it."

[DumNDumer]

I have a small amount of dinar as i bought only what i felt affordable.

I have been concerened about a LOP, but actually i don't think that will happen.

i lean toward the fact there are billions of dinar out there and everybody can not become a millionaire or billionaire overnight.. I believe they will limit the amount of dinars cashed in.

Wouldn't this sound reasonable?

Blessings

[keepmwlknfny]

Only the ones who dont have all their facts straight are constantly screaming they cant lop or its impossible for them to lop....its a very REAL possibility....and probability with the amount of dinar they have in circulation.......its unfortunate but its the fact of the matter.....

[imgesing]

REPOST!!! THIS WAS POSTED A WHILE AGO...

IT IS BS AND IS PURE SPECULATION.

Also, no one knows... SO those who read this remember that any info like this or someone who knows someone in a bank some where or in some great place with intel or a family member is pure BS!

I will explain it in this way... This is bigger then most any stock on the stock market. Inside information on a stock is very illegal. For all the obvious reasons it is unlawful to give out inside information on a stock.

So, do any of you REALLY believe that if and when this will RV on a specific day and time would be released? Think of what that would do to IRAQ? Just for security alone this information will not be leaked out... They simply can not afford to allow anyone to know until the second it happens.

Those of you who have a brain, use it. It just seems to me to make common sense.

PEACE

* DDT Member Info from Iraq… Redenomination (LOP/RV)

DECEMBER 28TH, 2010 02:02 AM · POSTED IN MEMBER INFO

Hello DD,

I am currently in Iraq and have been invested since 2007.

I have been following your site for the past few months and would like to thank you for sharing your insight and information regarding this investment.

Like you, I do my own research and don’t get hyped up with rumors which have been running wild lately and I also do not believe any so-called “Gurus” predictions either. I would like to think positive however, news I have been hearing lately from locals around here have been all but positive.

This is what I mean.

I got discouraging intel from one of my sources outside the wire.

An Iraqi friend of mine got this on national TV that their central bank intends to take the three zeroes off their currency. I asked him if they were taking the three zeroes off the value (i.e., 0.000855) or the currency itself. And he said, he understands about the zeroes in the value but no, they were going to take it off the currency itself. i.e., 25000 note becomes 25; 10,000 becomes 10, etc.

He also mentioned about a new note, 100,000 dinar to replace the other notes.

I went to Warka bank the other day and spoke with the bank manager and asked him to confirm and he said that this is what they were told.

He also confirmed by saying that CBI is going to introduce a new currency – a 100,000 dinar note. This is supposed to be the first step in the government’s plan to eliminate the other denominations. He claims that instead of having four 25000 dinar notes, it would be easier to have one 100,000 note instead.

I kindly responded by saying that this new note does not make any sense to me especially if they are trying to eliminate the bigger denominations.

But he insisted that this has been the plan all along and that this is all supposed to be a secret and he asked me where I heard about this. I told him it’s no secret since I heard it from one of my Iraqi friends who lives in Baghdad.

I went further by asking him a rate and date and he said that this is a long process. After they delete the zeroes and eliminate the big denominations, they expect the rate to be at least 1 IQD to $1 USD. This is going to take maybe six months to a year if not sooner. They are just waiting for the word from the CBI.

I then asked him, “so you don’t see the rate to be .10 cents or .86 cents?”

And he excitedly said in his Iraqi way of saying, “La La La ! (which is NO in Arabic) It’s definitely going to be at least a dollar or a little higher than a dollar.

I then asked him, “if Iraq did that with their currency (LOP the zeroes) and considering the millions of people holding IQD and not to mention the other countries’ governments, don’t you think the whole world is going to be very upset if your government did what you are telling me now?”

He did not quite understand my question and I had to get the other guy in the bank to translate. He then responded, “that this is what would benefit the Iraqi people. He does not know about the other countries but as far as the welfare of the people, the government of Iraq thinks this is the right approach. In Shalla.” (In shalla is God-willing or in God’s time in Arabic.)

So in a nutshell, what he just explained to me is that they will have a new 100,000 bill. (I am scratching my head on this one coz’ this still does not make any sense to me) After getting rid of the other denominations.

Then they take the 3 zeroes of the currency, i.e., 100,000 IQD becomes 100 IQD.

Then they put in the rate, He claims at least 1 IQD = $1.

Your 100 IQD is now $100.00

This would be a floating rate.

Then in time, (2-3 years or sooner) the value gradually goes up.

They are hoping to see the dinar rise to $3.22 eventually to 1 IQD based on their oil production.

In time, if you didn’t cash in, your 100 IQD would then be $322.00

He also mentioned that they hope to have their value higher than Kuwait since Kuwait is not as great as Iraq. (He is very proud to be Iraqi)

The manager, gauging my disappointment asked me if I thought I was going to have a million dollars for a million IQD.

Just so not to let him know my true feelings, I just smiled and said no.

But you already know how I feel about this whole thing.

This is not good news. Most definitely not what I was hoping to hear. I am still hoping that this is all wrong, but this is Iraq.

I know we have no control over what happens here. If what they say is true, our gains from this investment would be minimal to say the least.

We may make 12-15% which is better than nothing but none of the 1000% or higher that most people have been expecting.

Care to comment on this?

[firemans35]

I'm not sure if a LOP will happen but several months ago I emailed warka bank and asked them a question. Most of my warka account has been in stocks for almost 2 years. I asked if there was a LOP how would my stock be affected. For example if I had 1,000,000 shares of xyz stock valued at 1 dinar per share, how would my account be affected. Would I have only 1,000 shares? Warka could not answer that question. Does anyone here know? I know there are opinions so let's hear them.

[leola]

simply,,,said,,,I would think that to would be lopped.... you can`t do one without the other,,, I am hoping this is not the route they take....don`t slam me ,,,the person asked for an opinion,,,I gave him mine....

[bales130]

LOP, YEAH GREAT IDEA, NORTH KOREA LOPED THEIR CURRENCY A COUPLE YEARS AGO. THEY HAD RIOTS AND THEN THEY HAD THE MINISTRY OF FINACE WHO CAME UP WITH THIS GREAT IDEA SHOT. SWEET IDEA IRAQ, I PREDICT IF THEY LOP,IRAQ WILL IMPLODE ON ITSELF!

[Sal0525]

I am hoping for no lop too but what concerns me is if they decide to do the same as Turkey did when they revalued their lira. 1 million lira became 1 new lira. now of course, Turkey's worth won't be as great as Iraq but there is still that unfortunate possibility. Yet Iraq is serious about rebuilding then by far their citizens deserve to have the capital needed to do so, imagine how this would change their lives! (not to mention ours...)

[dog53]

I am new to this forum but not new to this invesment. Keepm is right. it is a possability . Is it the way I think this will go down. NOPE. Do I think it will RV at a smaller amount .05 say. YES And then with time rise. YES

NO LOP GOOOOO RV!!!!!!

[billy6]

Care to comment on this?

and exactly how do you know there won't be?

[Soldier]

Yea they want us all to wake up instant millionaires. Who dare try to make sense of the matter. A LOP would only keep Iraq moving forward, who wants that to happen. Iraq is suppose to pay back all of those people who did nothing but walk down to the bank and pay 100 bucks so they can receive a 100 thousand from Iraq.

[NotMyFirstBBQ]

JMO but seems to me that the lop talk is just to get people to buy more. If a lop happened that would be a major currency devaluation instead of a revaluation??

How in the hell is "LOP talk" a way to "get people to buy more"????????

The more I've read on currencies redominating/revaluing the more I think Russian Huey and the like are right. I just hope it will RV to 3.20 or so after the LOP so I can triple up. I can live with a $20,000 gain no problem.

[firemans35]

Bank Managers/Tellers are the same the world over.

They're like mushrooms: feed 'em **** and keep 'em in the dark.

As if some schlepp in a bank knows what's going on in regards to policy. If they did, tellers and managers would be the richest people in the world.

Sorry dude, your info is bogus.

True. After waiting a month for a reply from Warka I received it yesterday. It basically said they knew nothing.

[dinarded]

I suggest everyone just sell their Dinar back to whomever you purchased from......This deal aint gonna happen the way it has been "suggested" by those selling Dinar. Do yourself a favor.....spend the money on your family OR take it to a casino......Your odds are MUCH better there.

I'm COMPLETELY out and moving on.....I suggest you do the same....Don't let this eat at you ANY LONGER!

Edited April 4, 2011 by dinarded

[Ore]

I'm not sure if a LOP will happen but several months ago I emailed warka bank and asked them a question. Most of my warka account has been in stocks for almost 2 years. I asked if there was a LOP how would my stock be affected. For example if I had 1,000,000 shares of xyz stock valued at 1 dinar per share, how would my account be affected. Would I have only 1,000 shares? Warka could not answer that question. Does anyone here know? I know there are opinions so let's hear them.

That's a great question... and probably the best way to invest in this whole thing.

[NotMyFirstBBQ]

So your Million Dinar stock in xyz is worth all of what.. $870 USD and you're concerned what it will be post LOP? The LOP is only to bring those two number closer together. I'm not a financial expert but there's a pretty big discrepancy between what the Dinar/USD are valued at now. Post LOP those numbers will hopefully be more inline, or more hopefully the Dinar will surpass the USD. So I don't it will negatively effect your investment at all.

Just read up on a few LOP's. There are many articles floating around on the internet in regards to Brazil, Turkey, Ukraine etc. I don't see how Iraq is that much different.

[Ore]

Just read up on a few LOP's. There are many articles floating around on the internet in regards to Brazil, Turkey, Ukraine etc. I don't see how Iraq is that much different.

Of course a currency lop could happen, but in order for Iraq to lop their currency like those other countries did, Iraq would have to introduce a new currency with a new name, that would replace the IQD. Wich does not make sense in they already printed 14 IQD denominations since before 2006:

There are 7 IQD bank notes currently in circulation, out of a total of 14 IQD bank notes that were printed prior 2006:

The three guests from the Central Bank discussed the bank’s plan to enhance the Iraqi banking sector and financial markets throughout 2006. They highlighted a series of steps that have already been taken, including:

• Establishing the Central Bank’s independence from the Ministry of Finance

• Training 70% of the bank’s staff on international best practices

• Printing a series of 14 new Iraqi Dinar notes and coins

http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf

Releasing lower denominations of the same currency and phasing out the larger notes of the same currency would not be a lop, like in those other countries.