Stupid Question

[andy3978]

OK so if a Lop was something being considered by the Decision Makers...why?

When the old IQD was removed from circulation the NID replaced it. It is state of the art counterfeit-proof currency that no doubt was expensive to produce. With this in mind and also the fact that 25k notes are really impractical for day to day purchases...WHY bother wasting the resources to produce them, ultimately to remove them from circulation or lop them?

Why not just make 1, 5, 10, 25 dinar notes from the get-go? Unless it was to sucker us speculators in and pouring USD into the country?

I say this because between what the CBI mentioned last year and what XE says, it appears that a lop may very well be in the cards. Also it just doesnt seem realistic that we can all become overnight millionaires. I'm still in the game and will be until the end, but I'd be lying if I didnt say that I am a little nervous about this happening.

[Froto]

OK so if a Lop was something being considered by the Decision Makers...why?

It just eases transactions and simplifies accounting. If you have a million IQD, and there is a lop, you would exchange it for 1000 new currency. You would have 1000 times less dinar, and each of those would be worth 1000 times more than the old. ($1=.86 IQD) No change in the total value of your investment.

Cost to Iraq? The price of printing a new currency. or;

If you have a million IQD, and there is an RV of 1 to 1, you could exchange your dinar for 1 million dollars.

Cost to Iraq? 1 million dollars.

You do the math.

When the old IQD was removed from circulation the NID replaced it. It is state of the art counterfeit-proof currency that no doubt was expensive to produce. With this in mind and also the fact that 25k notes are really impractical for day to day purchases...WHY bother wasting the resources to produce them, ultimately to remove them from circulation or lop them?

They've had a seven year run on the notes they use now. They have to replace them as they wear out eventually, so a lop doesn't add that much to the cost of "business as usual" anyway.

Also it just doesnt seem realistic that we can all become overnight millionaires. I'm still in the game and will be until the end, but I'd be lying if I didnt say that I am a little nervous about this happening.

This has been nothing but a combination of pure hype and speculation from the start. Why get nervous?

[andy3978]

Thanks for the good info. I just look at it (using 1mil IQD as the example) that is if a lop of 3 zeros happens then 1 mil IQD is now actually 1,000 IQD. If they RV at for example 3:1 then the person would have 1,000 IQD x $3 = $3,000 USD's worth of IQD. Is that a correct analysis?

[seus]

Thanks for the good info. I just look at it (using 1mil IQD as the example) that is if a lop of 3 zeros happens then 1 mil IQD is now actually 1,000 IQD. If they RV at for example 3:1 then the person would have 1,000 IQD x $3 = $3,000 USD's worth of IQD. Is that a correct analysis?

Yes. You're accurate in that.

I personally look at it this way...if they LOP and RV it, they don't really piss anyone off, other than those of us either banking on being overnight millionaires or that this is our only plan for our future. If they LOP and RV it to something decent, I'd be very happy....Student Loans would be paid off, and I'd be just fine with that Not to mention, I know plenty of people with a ton of money in the stock market that lost it all...and I'm talking 100's of thousands of dollars.

[andy3978]

Yes. You're accurate in that.

I personally look at it this way...if they LOP and RV it, they don't really piss anyone off, other than those of us either banking on being overnight millionaires or that this is our only plan for our future. If they LOP and RV it to something decent, I'd be very happy....Student Loans would be paid off, and I'd be just fine with that Not to mention, I know plenty of people with a ton of money in the stock market that lost it all...and I'm talking 100's of thousands of dollars.

if they do the lop, between the money spent on buying the dinars and the banks spread, taxes, etc...it wont be much of a profit it at all, and certainly not worth the rollercoaster ride. So what's the consensus here about a lop?

All i know is that XE mentioned that the CBI had plans to do this...what are the opinions of the gurus?

[Froto]

Thanks for the good info. I just look at it (using 1mil IQD as the example) that is if a lop of 3 zeros happens then 1 mil IQD is now actually 1,000 IQD. If they RV at for example 3:1 then the person would have 1,000 IQD x $3 = $3,000 USD's worth of IQD. Is that a correct analysis?

You are correct with what you said but... It is just my opinion, but I doubt an RV either before or after a lop, and a lop doesn't necessarily have to happen, but I suspect it will. Just IMHO. It seems silly that Iraq will give me 3 times, 10 times, 100 times or 1000 times the money I gave them for the dinar I bought when they can easily keep the money for themselves.

[andy3978]

It seems silly that Iraq will give me 3 times, 10 times, 100 times or 1000 times the money I gave them for the dinar I bought when they can easily keep the money for themselves.

thats kinda the feeling i have in my stomach. i mean what benefit would it be to Iraq to NOT lop and RV at lets say 1:1?

[Froto]

thats kinda the feeling i have in my stomach. i mean what benefit would it be to Iraq to NOT lop and RV at lets say 1:1?

I do not have an answer to that one.

All I know is that for every way somebody has said how money will end up in our pockets, I can tell you how they can keep it for themselves instead. Then you can ask "why give it to me?"

[andy3978]

I do not have an answer to that one.

All I know is that for every way somebody has said how money will end up in our pockets, I can tell you how they can keep it for themselves instead. Then you can ask "why give it to me?"

So for all intents and purpose, a LOP would be the best thing for Iraq in your opinion?

[Froto]

So for all intents and purpose, a LOP would be the best thing for Iraq in your opinion?

Yes.

If there were a 1000:1 LOP, Iraq would have an exchange rate of $1 = .86 new IQD, the value of my investment would remain unchanged, and Iraq could keep there oil, minerals, and money for themselves.

[andy3978]

Yes.

If there were a 1000:1 LOP, Iraq would have an exchange rate of $1 = .86 new IQD, the value of my investment would remain unchanged, and Iraq could keep there oil, minerals, and money for themselves.

You're right. It's hard to disagree with your conclusions. It is rumored that many governments have invested heavily in the Dinar, including the US. To not get a return on their investment would be a slap in the face. I hope some of that plays out in the outcome

[seus]

Actually Andy, if the LOP and then RV at say $3 USD to 1 IQD, You will make a decent return. Most spreads from the actual exchange are typically 3-5%. You just won't make the 3000% all would hope for without a LOP. I personally don't know why people think that this is negative thinking really...more realistic...why be naive about it not happening. And believe me, if it doesn't happen, then you can gladly tell me that you told me so

[andy3978]

Actually Andy, if the LOP and then RV at say $3 USD to 1 IQD, You will make a decent return. Most spreads from the actual exchange are typically 3-5%. You just won't make the 3000% all would hope for without a LOP. I personally don't know why people think that this is negative thinking really...more realistic...why be naive about it not happening. And believe me, if it doesn't happen, then you can gladly tell me that you told me so

From a financial standpoint you are completely accurate. However this Dinar thing is different. Myself and I think everyone else who invested was hoping for the windfall profit...like the kind you can retire off of. Especially since this is billed at such a long shot and how much this ride goes up and down! a lop makes sense and no matter how hopeful I am, there's just this feeling in my stomach that says 'this kind of s**t happens to other people, not me' I hope I'm wrong about it though. Hell a 1:1 RV would be fine for me

[seus]

From a financial standpoint you are completely accurate. However this Dinar thing is different. Myself and I think everyone else who invested was hoping for the windfall profit...like the kind you can retire off of. Especially since this is billed at such a long shot and how much this ride goes up and down! a lop makes sense and no matter how hopeful I am, there's just this feeling in my stomach that says 'this kind of s**t happens to other people, not me' I hope I'm wrong about it though. Hell a 1:1 RV would be fine for me

I see what you're saying now...believe me...I want this thing to go to even just a straight .86 RV. But I'll tell you make the dinar your Plan B. Have your Plan A something different. I've owned my dinar since 2004, so I really have been waiting quite a while. Hopefully we'll all know the outcome to this very shortly.

[andy3978]

I see what you're saying now...believe me...I want this thing to go to even just a straight .86 RV. But I'll tell you make the dinar your Plan B. Have your Plan A something different. I've owned my dinar since 2004, so I really have been waiting quite a while. Hopefully we'll all know the outcome to this very shortly.

I've been in for about a year. I pretty much forgot about them until a few weeks ago when I started actively researching and reading. As far as knowing the outcome shortly...I just read a post that we should know in as little as 10 hours or up to 4 days max :lol:

[andy3978]

So would it be safe to say that an investor who has their millions of dinars in small denominations are still dreaming of retirement, regardless if a lop takes place?

[seus]

the denominations don't matter. The exchange will be per 1 IQD. The different denoms mean nothing other than one is more IQD than the other.

[andy3978]

the denominations don't matter. The exchange will be per 1 IQD. The different denoms mean nothing other than one is more IQD than the other.

currently the smallest demon. is a 50 dinar note. how would they lop 3 zeros off that unless it was to become pocket change?

[andy3978]

OK I just had a terrible thought, not follow me on this conspiracy theory...maybe Shabibi, the GOI and the powers that be ripped us off.

Follow this: you buy 1 mil. IQD and you pay $1,000 USD for it.

They lop it so we now have 1,000 IQD.

They then RV the IQD at say .10 to 1 USD (as opposed to at least 1:1 or better like we want)

We are left with 1,000 IQD that we can trade in for $100 USD minus the spread, and the CBI made $900 USD profit

Now multiply this out by how many people invested in the Dinar. The investors took a nasty loss and the CBI make a windfall profit for doing nothing. They then take their profits and pay off Kuwait and whatever other debts they have. They can enter the WTO as a 'under privileged' member and get continued special benefits etc.

Maybe they outsmarted all of us, and the only people who made any money is Iraq, Kuwait (they got their owed debts paid back) Dinar Trade and the like.

Thats the end of my conspiracy theory

[seus]

OK I just had a terrible thought, not follow me on this conspiracy theory...maybe Shabibi, the GOI and the powers that be ripped us off.

Follow this: you buy 1 mil. IQD and you pay $1,000 USD for it.

They lop it so we now have 1,000 IQD.

They then RV the IQD at say .10 to 1 USD (as opposed to at least 1:1 or better like we want)

We are left with 1,000 IQD that we can trade in for $100 USD minus the spread, and the CBI made $900 USD profit

Now multiply this out by how many people invested in the Dinar. The investors took a nasty loss and the CBI make a windfall profit for doing nothing. They then take their profits and pay off Kuwait and whatever other debts they have. They can enter the WTO as a 'under privileged' member and get continued special benefits etc.

Maybe they outsmarted all of us, and the only people who made any money is Iraq, Kuwait (they got their owed debts paid back) Dinar Trade and the like.

Thats the end of my conspiracy theory

Honestly, I've had this very thought as well the other day...that we all get completely screwed. I do think however, they'd really tick off way too many people and countries if they did that. Although, this is Iraq we're talking about here, so I don't know how much rational thinking they have with this stuff...hopefully shabibi doesn't do this.

but then again, they can just be playing 'dumb like a fox'

[egadman]

i firmly believe {only me}

that some authority after exchanging the 000 notes will lop them into an incinerator after cyber record.

record that could be eradicated by a solar flare

wow, can i give myself a red minus or another belt

[andy3978]

Honestly, I've had this very thought as well the other day...that we all get completely screwed. I do think however, they'd really tick off way too many people and countries if they did that. Although, this is Iraq we're talking about here, so I don't know how much rational thinking they have with this stuff...hopefully shabibi doesn't do this.

but then again, they can just be playing 'dumb like a fox'

I can see that being the case (pissing off a lot of people) but nobody will care about us little fish. IF some world governments have a large stake in Dinars and the CBI pulled a maneuver like that...they yea I can see bombs dropping

But if you think about it, Iraq will essentially have been giving free money, a start up loan to get their country working...a loan which wouldnt have to be paid back. Its a genius plan for them if you think about it.

i firmly believe {only me}

that some authority after exchanging the 000 notes will lop them into an incinerator after cyber record.

record that could be eradicated by a solar flare

wow, can i give myself a red minus or another belt

no minus from me pal...solar activity it ramping up to its peak which will occur in 2010

Edited January 30, 2011 by andy3978