Does dropping the zeros mean our dinar is worthless?

[SPRAYERDUDE]

Seen some disturbing news that if the zero's are dropped our dinars are worthless? Does anyone have any solid evidence that the only way to exchange our dinars would be in Iraq? More disturbing is a simultaneous possible RV with new bills only with the zero's removed.

Please post any answers only with 1st hand information Thankz

[Boilermaker]

Uh oh...you're in trouble Don't worry, I am sure someone will politely give you the info you are looking for

[Islandgirl7]

Uh oh...you're in trouble Don't worry, I am sure someone will politely give you the info you are looking for

[timborders]

Seen some disturbing news that if the zero's are dropped our dinars are worthless? Does anyone have any solid evidence that the only way to exchange our dinars would be in Iraq? More disturbing is a simultaneous possible RV with new bills only with the zero's removed.

Please post any answers only with 1st hand information Thankz

Go here and read, read and read. Did I say read?

http://dinarvets.com/forums/index.php?/forum/39-lop-talk/

[leola]

---------------------------------------------Don`t believeall you hear,and, only half of what you see....stick around and you will pick up info,,do not buy more than you can afford,,and you will be just fine....hang in there...

[Froto]

Go to the lop section and only read Keepemwalkinfunny's posts.

[dmama]

it is very good and i can explain it at this poiont the iqd is .00086 if the drop the three zeros it becomes .86 what a lot of people dont understand is they think they are droping the zeros from the notes such as 25,000 5,000 etc... but that is not the case. So to answer your question it is a very very good thing if the delete the zoros!!!!

[imgesing]

If you are worried that a LOP will happen dont. This isnt a situation for a LOSS OF PROFIT due to an over inflated economy. This is a devalued economy.

Like the above stated READ, Many refer to a LOP but it would destroy IRAQ to LOP. Simply wont happen. There are other things they could do but a LOSS OF PROFIT seems beyond unlikely.

As always I state I could be wrong but if you read and educate yourself you will understand why I am saying this.

Have a good day.

[chuckray]

from my topic yesterday :

a 25,000 note will be worth the same as 1000 250 notes

[Carrello]

from my topic yesterday :

a 25,000 note will be worth the same as 1000 250 notes

100 250 notes

[easyrider]

Ok once again I shall explain

and I will type slowly so that you all amy understand

Well

I don’t have any idea how many more times I can explain this

This is straight from my students here in Iraq, not the corner 7-11 store in Fantasy Ville

There will be a lop and simultaneous Revaluation to the same rate as Kuwait This has been explained

to the Iraqi people for several months now through text messages from their banks, on television, the radio and from their Mosques.

I have seen the texts (I don’t read Arabic) so I have them translated by our terp

So it goes like this

I’m an Iraqi citizen and my current pre RV wage is 1,000,000 dinar per month

I have approximately $1000 dollars in buying power

Now after a Lop and RV my wage of 1,000,000 becomes 1000 dinar per month

But I have the buying power of approx $3600 US dollars

The CBI electronically knocks off 3 zeros from all accounts and rounds up or down

Like this pre RV I have 3,734,286 dinars in an account post RV I have 3,734 dinar

Simple huh? As far as the details are concerned larger notes and smaller notes can be used concurrently

And as the larger notes return to the bank they will be taken out of circulation

There will be no need for a 100000 dinar note as the purchasing power of a 25000/25 dinar note will be around $90 dollars US

and anyone that has been to Kuwait will tell you will rarely ever see a KD bill larger than a 50

So what about all the foreign investors? You say what about them they all make a 350% profit on their investment. Not bad huh

If any of you think for an instant that you will become instant millionaires from this better think again

Semper Fi

makes somewhat sense but stil that is one hell of a return might not be millionaires but i do believe this is a good investment. To be honest you or noone else knows what will happen Iraq is unpredictable but i do know many of us will be blessed and make some money whatever the case may be.

[thebigbadbrody]

unfortunately that sounds right . I hope that is not going to happen, but that sounds valid. I own dinar, and to think that all who own dinar will become rich over night is most likely not going to happen. If the dinar was going to sky rocket the way all are thinking the government would either purchase as much as they can or make it so difficult for the average person to make such a profit. Love how everybody says pray or god bless be for real!!!!

[keepmwlknfny]

Go to the lop section and only read Keepemwalkinfunny's posts.

LOL....ill make it easy for him.....It all depends on what they mean about dropping the zeros.....since there is a language difference in the way they use words they could mean just getting the larger bills out of circulation while issuing smaller denoms since there wont be a need for large denomination bills if they straight up RV......now in the normal sense of the words dropping the zeros its speaking about a LOP or redenomination....where as your 25k note will only be worth 25 new dinar and you will have to exchange your bills for the smaller denoms or cash out for USD at that point.......your dinar wont be worthless.....if they LOP they could easily set the new rate at the 3 dollar range and you would triple your investment.....still not too bad for just sitting around and reading/writing on forums.....or they could LOP and come out near a dollar to start and you would probly just break even.....does that answer your question?

[Adam Montana]

Question: "Does dropping the zeros mean our dinar is worthless"?

Answer: "No".

Hope that helps.

[moose 57]

Question: "Does dropping the zeros mean our dinar is worthless"?

Answer: "No".

Hope that helps.

That's what I was waiting for "no"!

[Heavyduty053]

Seen some disturbing news that if the zero's are dropped our dinars are worthless? Does anyone have any solid evidence that the only way to exchange our dinars would be in Iraq? More disturbing is a simultaneous possible RV with new bills only with the zero's removed.

Please post any answers only with 1st hand information Thankz

Subjects of this nuture has been brought up many times and the answer to your question is not so. Even tho the Iraq currency is for all purposes worthless at the moment, they are working hard to give it a value thru RV once again. These articles people write are without any merit, so if you read can't exchange outside iraq are just what they are, untrue trying to stir up uneasy feelings. stick to the plan, don't give them the satisfaction of knowing they upset anyone.

[butkus51]

We will triple our money - Big deal - Over 5 years, a prudent investor in the market could have done the same.

[butkus51]

Ok once again I shall explain

and I will type slowly so that you all amy understand

Well

I don’t have any idea how many more times I can explain this

This is straight from my students here in Iraq, not the corner 7-11 store in Fantasy Ville

There will be a lop and simultaneous Revaluation to the same rate as Kuwait This has been explained

to the Iraqi people for several months now through text messages from their banks, on television, the radio and from their Mosques.

I have seen the texts (I don’t read Arabic) so I have them translated by our terp

So it goes like this

I’m an Iraqi citizen and my current pre RV wage is 1,000,000 dinar per month

I have approximately $1000 dollars in buying power

Now after a Lop and RV my wage of 1,000,000 becomes 1000 dinar per month

But I have the buying power of approx $3600 US dollars

The CBI electronically knocks off 3 zeros from all accounts and rounds up or down

Like this pre RV I have 3,734,286 dinars in an account post RV I have 3,734 dinar

Simple huh? As far as the details are concerned larger notes and smaller notes can be used concurrently

And as the larger notes return to the bank they will be taken out of circulation

There will be no need for a 100000 dinar note as the purchasing power of a 25000/25 dinar note will be around $90 dollars US

and anyone that has been to Kuwait will tell you will rarely ever see a KD bill larger than a 50

So what about all the foreign investors? You say what about them they all make a 350% profit on their investment. Not bad huh

If any of you think for an instant that you will become instant millionaires from this better think again

Semper Fi

[butkus51]

Russian - I hate your post. For years we were told this would not happen. Yet, it makes the most sense. So, those of us who have 10,000,000 dinar will end up with $37,500. Makes Ali's $150 per million seem a little more impactful. For those of you young people, great. You can take that money and make it work for you.

For those of us on social security, this was our chance to enjoy our last years as somebody. We would have been able to insure that our grand children did not have the burden of their finances to hinder them in pursuit of a life of contribution, rather than survival.

The argument is how can lower denominations exist with the 25,000. They are talking decimal points, not zeroes. So, the 25,000 IQD is 25; the 250 is 0.25. The key is the dude who wants to give every Iraqi 100,000 dinar. Now, just do the math.

Boy, do I want to get bashed on this one. Funny, after all these years telling us this would not happen, Russian hasn't gotten bashed thus far.

So, tell us where this is wrong. Please.

[mrref]

Seen some disturbing news that if the zero's are dropped our dinars are worthless? Does anyone have any solid evidence that the only way to exchange our dinars would be in Iraq? More disturbing is a simultaneous possible RV with new bills only with the zero's removed.

Please post any answers only with 1st hand information Thankz

THIS QESTION HAS BEEN ANSWERED A THOUSAND TIMES, GO TO THE FORUM AND LOOK FOR ZERO'S DROPPED, LOP AND YOU WILL FIND ALLL OF YOUR ANSWERS

[BanG]

Seen some disturbing news that if the zero's are dropped our dinars are worthless? Does anyone have any solid evidence that the only way to exchange our dinars would be in Iraq? More disturbing is a simultaneous possible RV with new bills only with the zero's removed.

Please post any answers only with 1st hand information Thankz

OK, it is time to bury this BS rumor and set the record straight. If you purchased your Dinars through a US Treasury registered site and are currently holding 25,000.00 or even 10,000.00 notes IRAQ Cannot LOP your money or drop the zero's when you go to cash in. They must pay the Currency's face value no matter what the RV is, Period. Why you ask? If they tried to pull a stunt like that they would loose all credibility in the global market, further all payments made to foreign companies would be Null and Void. Think real hard on this one because this is what your choosing to believe, This is an official currency, it is traded globally, it is being used to pay and purchase Iraqi needed items. Just consider the magnitude involved in such a venture. It would be far far easier to replace the Dinar with a new currency and thus make the Dinar obsolete. Again think about the scale of this kinda talk for Iraq and it's very future as a world trader. JMO. Peace.

[cwtrimmer]

OK, it is time to bury this BS rumor and set the record straight. If you purchased your Dinars through a US Treasury registered site and are currently holding 25,000.00 or even 10,000.00 notes IRAQ Cannot LOP your money or drop the zero's when you go to cash in. They must pay the Currency's face value no matter what the RV is, Period.

Yes, they can LOP it. It's their currency and they can do whatever they please. BTW, don't put alot of faith in a dealer being registered with the US Treasury. You or I could fill out the application, send in our registration fee, and be a Registered Currency Exchange by next week. There's no requirements to do it and the Treasury Department has no oversight or enforcement over anything those people do.

This is an official currency, it is traded globally, it is being used to pay and purchase Iraqi needed items.

Um, no its not. The Iraqi Dinar is not an internationally traded currency and any business Iraq does outside of Iraq is done in USD.

To answer the OP's question: No, it won't be worthless. Worst case, if they drop three zeros, your 25,000 note is now a 25k note and depending on how much you paid for your Dinar you likely are right around breaking even.

Edited March 30, 2011 by cwtrimmer

[Shinnidan]

Yes! it will be WORTHLESS! now, site down....wait and chill for the out come.

[BanG]

Yes, they can LOP it. It's their currency and they can do whatever they please. BTW, don't put alot of faith in a dealer being registered with the US Treasury. You or I could fill out the application, send in our registration fee, and be a Registered Currency Exchange by next week. There's no requirements to do it and the Treasury Department has no oversight or enforcement over anything those people do.

Um, no its not. The Iraqi Dinar is not an internationally traded currency and any business Iraq does outside of Iraq is done in USD.

To answer the OP's question: No, it won't be worthless. Worst case, if they drop three zeros, your 25,000 note is now a 25k note and depending on how much you paid for your Dinar you likely are right around breaking even.

OK, fair enough. Although as I understand it they would have to get rid of the Dinar and replace it with another form of currency all together, that in itself would be a staggering financial undertaking that it in of itself would put all their assets and financial stability at stake, This early on in the New Iraq would dramatically undermine their currency, scare investors off and further delay the people of Iraq from getting their money with respect's to a few items such as Power dis-tribulations, goods and services. I just can't believe after all the positive CBI data coming out that at this late stage if this

[butkus51]

So, the thing that could never happen is the thing that must happen. So now, all you visitors of the Dinar Sites, is it worth your time. You could make a few grand. Shoot, for the time spent, we could have been greeters at Target and made just as much. Sounds greedy, but that is not why we bought the dinar. It was low risk - high reward, and now it turns into high risk-low reward. And, it still will probably not RV/LOP because of the ass hole Alawi, et al. Think about it. So, let's just forget about it I know this is LOP talk, but I did not start the topic. No guru's - no Adam Montana going into detail to show this is wrong. Crap!!!!!!!!!!!!!!!!!!!! Well, maybe they will compromise and come out with an RV of $0.10 - take it and run. We have to have been the most stupid sons of b####s to believe even a $1.