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What happens to the 50,250,and 500 dinar notes?


Skip^downsouth
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I'm am new at DV so I hope you will be patient with me. I have a question that I hope someone will answer for me.

I was looking at the CBI site at the pictures of the currency and I saw that they have 50, 250, and 500 dinar notes

along with the bigger notes.

I was wondering if I was an Iraqi citizen who over the past years had been frugal and had stashed away a few big

10,000 or 25,000 notes and all of a sudden they get LOPed and now are worth 10 and 25 dinar and the garbage

collector across the street who has say two 50 dinar notes in his left shoe has more money than I have now.

I would be looking for a tree to hang somebody.

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Don't believe everything you read. It ain't gonna LOP! Even if it did, the old notes would still retain their value until they were out of circulation. Back in the 1930s the US printed 100,000 dollar notes. They were never feasible because most people never saw that much money in their lives. If you had one today the US would still have to honor it. Don't worry too much about what people post about a LOP.

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great point skip....

unless they give the man equivalent smaller denoms in exchange for the 000 dinars

I know i would feel a lot better right now if i had all of my dinar in 250 denoms and it is interesting to note that tampadinar sells them but at a major jump in price 100,000 dinar for $900....

I havent found anyone else that sells lower denoms yet

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I'm am new at DV so I hope you will be patient with me. I have a question that I hope someone will answer for me.

I was looking at the CBI site at the pictures of the currency and I saw that they have 50, 250, and 500 dinar notes

along with the bigger notes.

I was wondering if I was an Iraqi citizen who over the past years had been frugal and had stashed away a few big

10,000 or 25,000 notes and all of a sudden they get LOPed and now are worth 10 and 25 dinar and the garbage

collector across the street who has say two 50 dinar notes in his left shoe has more money than I have now.

I would be looking for a tree to hang somebody.

Don't believe everything you read.

The terms "LOP" and "remove three zeros" are just slang terms. In this case they refer to a 1000:1 redenomination.

In any redenomination (it's been done in over 50 countries in the last 80 years), the ENTIRE SERIES of old notes are replaced with an ENTIRE NEW series of notes. That means your garbage collector across the street will be turning his two 50's in for a couple of nickels. Everything gets replaced completely. They total value of everybody"s holdings does not change.

Also, money is money, it does not matter if it is paper, coin, or an electronic balance in your bank account, it gets redenominated.

And don't waste your money buying the more expensive smaller notes, it all gets exchanged.

Edited by Froto
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Does anyone recall the costs of printing and shipping the big bills??

I also believe they're contracted of some sort to use these bills up until 2013 or something to that effect. Meaning they would not be able to issue new currency for at least a couple years.

I know it took several 747s to ship the new bills in. Also, it was "QUITE" the process to exchange the OLD bills for NEW bills that involved convoys going from bank to bank for people to exchange their old for new.

So, people claim they can LOP... That'll solve their problems.. But what about those that hold the middle of the road bills (Such as 50s, 250s, etc) Will they be the winners? If they were to LOP where 25,000 IQD note were to equal 25 IQDs, they would have to issue a whole new series of notes. (Cost of more money, while only breaking even on the value of the hard currency).

if I also recall, each bill costed roughly.. $0.08 cents to make? -- Or something similar or close to that.

If that be the case, The $50 IQD is only worth half the price, roughly, for the cost of it to be made. (0.0008)

The claim(s) are that LOPs are common in a country with hyper-inflation

GOI & CBI are not encountering high inflation (its being kept rather low)

The country is also rich with natural resources and will be a future striving M.E. country

The people are poor and rely on rations and other public services to survive.

Imagine, as a member in parliament thinking.... I made X amount, and if we do this RV-thing, it'll be worth X-amount (Which is many times higher than the current value)... As greedy as politicians may be, why would they wait?? If there was a chance to increase the value like we hope, they would be "eager" to do so. Right?

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Does anyone recall the costs of printing and shipping the big bills??

I also believe they're contracted of some sort to use these bills up until 2013 or something to that effect. Meaning they would not be able to issue new currency for at least a couple years.

I know it took several 747s to ship the new bills in. Also, it was "QUITE" the process to exchange the OLD bills for NEW bills that involved convoys going from bank to bank for people to exchange their old for new.

So, people claim they can LOP... That'll solve their problems.. But what about those that hold the middle of the road bills (Such as 50s, 250s, etc) Will they be the winners? If they were to LOP where 25,000 IQD note were to equal 25 IQDs, they would have to issue a whole new series of notes. (Cost of more money, while only breaking even on the value of the hard currency).

if I also recall, each bill costed roughly.. $0.08 cents to make? -- Or something similar or close to that.

If that be the case, The $50 IQD is only worth half the price, roughly, for the cost of it to be made. (0.0008)

The claim(s) are that LOPs are common in a country with hyper-inflation

GOI & CBI are not encountering high inflation (its being kept rather low)

The country is also rich with natural resources and will be a future striving M.E. country

The people are poor and rely on rations and other public services to survive.

Imagine, as a member in parliament thinking.... I made X amount, and if we do this RV-thing, it'll be worth X-amount (Which is many times higher than the current value)... As greedy as politicians may be, why would they wait?? If there was a chance to increase the value like we hope, they would be "eager" to do so. Right?

FIRST THING NEWBIE THERE IS NO SUCH THING AS LOP, GO TO THE PREVIOUS FORUMS AND READ AND READ SOME MORE TO GET CAUGHT UP ON PREVIOUS ARTICLES, PAY ATTENTION TO THE POSTED POST BY ADAM MONTANA. I THINK THAT WILL HELP YOU. BY THE WAY DON'T EXPECT TO GET RICH OVER NITE NOT GOING TO HAPPEN/ GOOD LUCK

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FIRST THING NEWBIE THERE IS NO SUCH THING AS LOP, GO TO THE PREVIOUS FORUMS AND READ AND READ SOME MORE TO GET CAUGHT UP ON PREVIOUS ARTICLES, PAY ATTENTION TO THE POSTED POST BY ADAM MONTANA. I THINK THAT WILL HELP YOU. BY THE WAY DON'T EXPECT TO GET RICH OVER NITE NOT GOING TO HAPPEN/ GOOD LUCK

You must of quoted the wrong person. I am not a newb.

Re-denominations (Which I believe we may know as a LOP) are usually done by issuing new currencies. I believe, if I recall correctly, Afghanistan did this recently.

I don't think OP or myself ever thought this was an over-night deal. -- With a striving economy w/ future potential, worst-case scenario is to view it as a very long-term investment that'll increase in value in due time.

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The same thing would happen as what the bigger bills will do....your 500 becomes .50 cents your 250 becomes .25 cents and so on......And by the way, a LOP/Redenomination doesnt screw anyone.....its a neutral change.....the nominal value of the bill is changed ex. your 25k note is now only worth 25, but the purchasing power is increased ex what you could previously buy for that 25k note, you can now purchase with the 25 note......it happens AFTER periods of hyperinflation when things stabilize to combat the affects of it.....it very well is a possibility with this investment until I see the physical currency numbers drastically decline....then I would say we got the green light.....until then its the dark side to investing in dinar

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Skip , there will not be a lop , but to answer your original question ,you would move the decimal 3 to the left making the 50.00 --------- .05

Man I hope your right and there is no LOP or somebody will have a business making gum machines to take 50 dinar notes . :D

The same thing would happen as what the bigger bills will do....your 500 becomes .50 cents your 250 becomes .25 cents and so on......And by the way, a LOP/Redenomination doesnt screw anyone.....its a neutral change.....the nominal value of the bill is changed ex. your 25k note is now only worth 25, but the purchasing power is increased ex what you could previously buy for that 25k note, you can now purchase with the 25 note......it happens AFTER periods of hyperinflation when things stabilize to combat the affects of it.....it very well is a possibility with this investment until I see the physical currency numbers drastically decline....then I would say we got the green light.....until then its the dark side to investing in dinar

Well I don't know about the rest of you unless they exchange 1000 25 dinar notes for my 25000 dinar notes I for one am

gona feel very very screwed. :angry:

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Well I don't know about the rest of you unless they exchange 1000 25 dinar notes for my 25000 dinar notes I for one am

gona feel very very screwed. :angry:

To extend Keep's post, your old series 25k IQD note is worth 21.37USD, and your new series 25 IQD note is worth 21.37 IQD. How did you get screwed?

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Man I hope your right and there is no LOP or somebody will have a business making gum machines to take 50 dinar notes . biggrin.gif

Well I don't know about the rest of you unless they exchange 1000 25 dinar notes for my 25000 dinar notes I for one am

gona feel very very screwed. angry.gif

Can someone please help me and explain why the below would not apply?

I agree with you and would feel the same way.

Before purchasing my dinar, it was explained that EACH dinar I purchased, was a share in Iraq. Now, when I've bought stock in the past, the number of shares never changed unless there was a split and then I doubled the amount of the shares I held. I didn't buy values I bought dinars (shares) To me no matter what you do with the value, the number of shares I bought should always be recognized...25,000 shares or dinars whatever you call it.

So why wouldn't the same apply here with a 25k note...it says I bought 25,000 dinars..m&m's jawbreakers whatever you want to call it..simple as that. No matter if the price of this candy goes up or down...I still should have the original amount of pieces

I bought. While the price per box may change the piece count on the box of candy shouldn't change. Unless someone comes into the night and takes some out. My dinar candy wrapper says I have 25,000 pieces no matter what changes they do to the ingredients downline or the changes in the markets to sell.

If they lop, or change the value by rebasing how can they steal the number of dinars I bought? The value of my per dinar I hold can change of course, but you shouldn't be able to take away the number of dinars I bought. That note represents only the number I bought..it didn't have much value then..but I still bought 25,000 dinars.

Shouldn't I be issued additional dinar to make up for the difference if they are to rebase? I didn't buy 25 dinar..I didn't buy 250 dinar I didn't buy 2500 dinar. I bought 25,000 dinars bottom line. (and then some biggrin.gif )

Wishwell11

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Can someone please help me and explain why the below would not apply?

I agree with you and would feel the same way.

Before purchasing my dinar, it was explained that EACH dinar I purchased, was a share in Iraq. Now, when I've bought stock in the past, the number of shares never changed unless there was a split and then I doubled the amount of the shares I held. I didn't buy values I bought dinars (shares) To me no matter what you do with the value, the number of shares I bought should always be recognized...25,000 shares or dinars whatever you call it.

So why wouldn't the same apply here with a 25k note...it says I bought 25,000 dinars..m&m's jawbreakers whatever you want to call it..simple as that. No matter if the price of this candy goes up or down...I still should have the original amount of pieces

I bought. While the price per box may change the piece count on the box of candy shouldn't change. Unless someone comes into the night and takes some out. My dinar candy wrapper says I have 25,000 pieces no matter what changes they do to the ingredients downline or the changes in the markets to sell.

If they lop, or change the value by rebasing how can they steal the number of dinars I bought? The value of my per dinar I hold can change of course, but you shouldn't be able to take away the number of dinars I bought. That note represents only the number I bought..it didn't have much value then..but I still bought 25,000 dinars.

Shouldn't I be issued additional dinar to make up for the difference if they are to rebase? I didn't buy 25 dinar..I didn't buy 250 dinar I didn't buy 2500 dinar. I bought 25,000 dinars bottom line. (and then some biggrin.gif )

Wishwell11

thats what a redenomination is all about.....its like instead of getting 25 pieces of candy in a box, you are now getting 10 pieces of candy but those pieces are bigger then before so its still the same value of what you paid for.....just broken up differently.....i dunno if that helped any but unfortunately thats exactly how redenominations work....the nominal value is diminished, but the purchasing power is raised so in the end it evens out....no one loses....but no one wins either!

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To extend Keep's post, your old series 25k IQD note is worth 21.37USD, and your new series 25 IQD note is worth 21.37 IQD. How did you get screwed?

Say they RV at maybe $3.00 a 25000 dinar note is worth $75,000 USD and a LOPed 25 dinar note is worth $75 screwed right. :(

Why would the new 25 dinar note be worth as much as a 25000 note ? :huh:

Unless they are taking the three zeroes off for just looks replacing the 25000 dinar notes with a note that says

25K. If it is just a 25 dinar note it looks like it would be a 24,975 dinar reduction in value from the time I purchased it in

the US .

thats what a redenomination is all about.....its like instead of getting 25 pieces of candy in a box, you are now getting 10 pieces of candy but those pieces are bigger then before so its still the same value of what you paid for.....just broken up differently.....i dunno if that helped any but unfortunately thats exactly how redenominations work....the nominal value is diminished, but the purchasing power is raised so in the end it evens out....no one loses....but no one wins either!

The problem with this I can't go to Iraqi to go shopping :( :( :lol:

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Say they RV at maybe $3.00 a 25000 dinar note is worth $75,000 USD and a LOPed 25 dinar note is worth $75 screwed right. :(

Why would the new 25 dinar note be worth as much as a 25000 note ? :huh:

Unless they are taking the three zeroes off for just looks replacing the 25000 dinar notes with a note that says

25K. If it is just a 25 dinar note it looks like it would be a 24,975 dinar reduction in value from the time I purchased it in

the US .

The problem with this I can't go to Iraqi to go shopping :( :( :lol:

Wrong.

Sigh

You are just confusing yourself by mashing an RV and a LOP together at the same time. Ain't gonna happen. Two entirely different things. Stop it.

To put it a different perspective, a redenomination (LOP) has happened about 50 times in the last 80 years, and it has happened exactly as Keep and I have tried to explain. I don't know where else to go with this one.

KEEP, I like the candy analogy, hows this:

The chunk of candy is exactly the same, they just cut it into 25 pieces instead of 25,000. :lol:

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Froto and Keepm...What you says makes sense and I'm not disputing it at all. Don't mean to keep the Candy Land game going I inderstand it . This is why I would feel bad with this neutral action.

Thanks for answering guys.

Froto>>The chunk of candy is exactly the same, they just cut it into 25 pieces instead of 25,000>>

But thats applicable after the RV.and selling larger pieces for more $. Its still per piece.

I bought per piece (dinar) not conditional by weight or chunk and IMHO cutting into 25 pieces instead of 25,000 is more than a mouthful and ...more than a mouthful, is a waste..LOL ...

That same chunk and cutting in larger size and selling it for more,would apply to buyers after an RV in my opinion.

That scenario would be applicable to the metals..value.pricing by weight of gold overall not by piece. The currency note is the only way to record the number of dinars I purchased. What they do afterward is someone elses business imho. It should be illegal to sell per piece at they rate they set and the per piece guidelines they set.but then when time to pay up..then change what makes up that per piece they sold.

They should not be allowed to sell a product and our government stand by and allow it then reduce the number of pieces we hold when the per piece matures.

Where do they draw the line for transparency? They can do this to future buyers and investors. We should not be penalized for using their established rates and measurements. IMHO we should be grandfathered in should rates and measurements change.

No where did it say at time of sale ..despite your 25,000 dinars purchase, should the value go up and you liquidate, you will be penalized 1000 dinars per each dinar.

By piece (dinar.) not an overall chunk, the price per piece may fluctuate daily on my existing pieces, and they can decide for future buyers if it will cost more per piece and color or rename it new and improved ,but I bought mine on sale per piece which only helped them build their business. Otherwise what was the purpose is selling them? To be able to say oh that paper says you bought 25,000 pieces but today we'll recognize them as 25 and by the way we increased the value of the pieces. The game is not to come out neutral...its hoping to substantially profit from a sale price just like they stand to profit substancially from our investments there. It Has to work both ways.and not fair to be selective...whether they made a mistake or not soliciting this...they did it and set the weights and measaurements.

Just like when you go to the bakery and buy a dozen brownies ...Yesterday for example or call it Pre RV, I bought a dozen brownies thats 12(dinar) .Next day...(RV Day) ...notice they're price gaughing selling dozen brownies twice the price and cutting them smaller. Lucky for me yesterdays deal was better.. my brownies...larger pieces at a lower price...oh well I either buy or not buy the smaller higher priced today...my choice but a dozen brownies whether they be small or large yesterday or today is still a dozen.

If I return my bownies for store credit...they should give me credit for todays price for a dozen brownies no matter if some of my pieces are smaller or larger than the ones they sell that day. I know its out of our control but A dozen is a dozen in my book

Wishwell >>>now craving sweets..

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Froto and Keepm...What you says makes sense and I'm not disputing it at all. Don't mean to keep the Candy Land game going I inderstand it . This is why I would feel bad with this neutral action.

Thanks for answering guys.

Froto>>The chunk of candy is exactly the same, they just cut it into 25 pieces instead of 25,000>>

But thats applicable after the RV.and selling larger pieces for more $. Its still per piece.

I bought per piece (dinar) not conditional by weight or chunk and IMHO cutting into 25 pieces instead of 25,000 is more than a mouthful and ...more than a mouthful, is a waste..LOL ...

That same chunk and cutting in larger size and selling it for more,would apply to buyers after an RV in my opinion.

That scenario would be applicable to the metals..value.pricing by weight of gold overall not by piece. The currency note is the only way to record the number of dinars I purchased. What they do afterward is someone elses business imho. It should be illegal to sell per piece at they rate they set and the per piece guidelines they set.but then when time to pay up..then change what makes up that per piece they sold.

They should not be allowed to sell a product and our government stand by and allow it then reduce the number of pieces we hold when the per piece matures.

Where do they draw the line for transparency? They can do this to future buyers and investors. We should not be penalized for using their established rates and measurements. IMHO we should be grandfathered in should rates and measurements change.

No where did it say at time of sale ..despite your 25,000 dinars purchase, should the value go up and you liquidate, you will be penalized 1000 dinars per each dinar.

By piece (dinar.) not an overall chunk, the price per piece may fluctuate daily on my existing pieces, and they can decide for future buyers if it will cost more per piece and color or rename it new and improved ,but I bought mine on sale per piece which only helped them build their business. Otherwise what was the purpose is selling them? To be able to say oh that paper says you bought 25,000 pieces but today we'll recognize them as 25 and by the way we increased the value of the pieces. The game is not to come out neutral...its hoping to substantially profit from a sale price just like they stand to profit substancially from our investments there. It Has to work both ways.and not fair to be selective...whether they made a mistake or not soliciting this...they did it and set the weights and measaurements.

Just like when you go to the bakery and buy a dozen brownies ...Yesterday for example or call it Pre RV, I bought a dozen brownies thats 12(dinar) .Next day...(RV Day) ...notice they're price gaughing selling dozen brownies twice the price and cutting them smaller. Lucky for me yesterdays deal was better.. my brownies...larger pieces at a lower price...oh well I either buy or not buy the smaller higher priced today...my choice but a dozen brownies whether they be small or large yesterday or today is still a dozen.

If I return my bownies for store credit...they should give me credit for todays price for a dozen brownies no matter if some of my pieces are smaller or larger than the ones they sell that day. I know its out of our control but A dozen is a dozen in my book

Wishwell >>>now craving sweets..

I agree with your brownies :D

A 25000 dinar note RV at $3.00 is $75000USD = a 25 dinar note RV at $3000.00 USD .

25000 small pieces of $3.00 candy =25 huge pieces of $3000.00 candy.

Who is going to buy candy that size? :D

Nobody get me wrong I hope profoundly that We don't have to worry about any LOP happening being a diabetic

really don't want think about candy and brownies wait tooooo late :D

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Don't believe everything you read.

The terms "LOP" and "remove three zeros" are just slang terms. In this case they refer to a 1000:1 redenomination.

In any redenomination (it's been done in over 50 countries in the last 80 years), the ENTIRE SERIES of old notes are replaced with an ENTIRE NEW series of notes. That means your garbage collector across the street will be turning his two 50's in for a couple of nickels. Everything gets replaced completely. They total value of everybody"s holdings does not change.

Also, money is money, it does not matter if it is paper, coin, or an electronic balance in your bank account, it gets redenominated.

And don't waste your money buying the more expensive smaller notes, it all gets exchanged.

blink.gif....mellow.gif.... smile.gif.......... biggrin.gif .....emot-LMAO.gifemot-LMAO.gif

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