The central bank about to put the final touches on the draft to three zeros of the Iraqi dinar

[jaminjimmy90]

this article means l o p. this article is awful.

i think they are meaning after we turn it in not before it say currency

when it happens we will know go rv at 29.00 lol

Anything that would talk about increasing the buying value of the dinar would not indicate a LOP. A LOP would be a latteral move as far as buying power goes. This article, if translated correctly is absolutely incredible news. Just don't go quitting your jobs until it hits Forex!!!

right on first forex then good bye job lol

[speculatorsRIDE]

maybe they didnt make it clear enough. they said remove the ZEROS FROM THE CURRENCY, for those who dont know what that is, it is what you are currently holding (currency) i am not saying that this article is real, but it 100% no doubt about it means lop, there are no if's and's or butts about it. put the koolaid down folks i want to wake up rich as well, but we will make 3 times (if you have $1000 invested you will get back $2-3000 back). trust me i have a masters in economics that is what this all means.

I am not one to bash. Never have been and never will be. However, even with your masters in economics you are failing to take into consideration a major issue. People seem to think that Iraqi's actually talk the way it is worded. They don't. These articles that are posted here are originally written in Arabic. (The Arabic language has only 5,000 words) Someone takes the original article written in Arabic and then translates it using an Arabic to English translation bot. The original meaning of the article is lost in translation. Just because it says something doesn't always mean that is what was said. Could mean .00086 theory or it could mean 25,000IQD = 25IQD theory. Fact is we have no idea.

[hakunamatata80909]

Very interesting Sara. Thanks for the Intel.

[debratzz]

I'd like to see what others think of this...

Was preceded by Iraqis in the area of the economy that have played

down the impact of the central bank should be deleted zeros of the purchasing

power of the Iraqi dinar, and the government hopes for such a step, and

researchers believe that the cost of the الاصفار will be the largest of the

benefit, considering that currency strength measured its stability, which is

based on the strength of the productive sector capable of the provision of

goods and services

Imo " Iraqis played down not having the purchasing power" of the larger denoms that they have drawn in!

[elmstreet61]

Yes, I DO know what they are talking about. Have you done ANY research into a situation that warrents a LOP VS Iraqs current Situation?? It like night and day.

Secondly.. The U.S. Gov is not going to shell out trillions of USD for the past 8 years.. not counting the Lives lost, and not get a ROI. Not gonna happen. ANd how can u have a 25,000 and a 25 note equal in value??? How DUMB does that sound?

i guess, where these ppl are coming from with this idea....it's a bit like when Germany issued 1 Million Mark Notes and 10 Million Mark notes during their great depression. You needed around 2 Million Deutch-Marks just to buy a loaf of bread and a bottle of milk! That all became too stupid and inconvenient, so they brought their notes back to sensible ones...no more Millions, or thousands of D-Marks worth only pennies...like the IQD.

So germany got rid of the multi-million DM notes and replaced them with more user-friendly 1DM, 5DM, 10DM, 20DM notes...etc....so that instead of needing 2 million DM to buy your bread, paper and milk, you could do it with 2DM.

Soooo, by extension, then......if you take a 25,000 IQD note, and they want to replace that with a 25 IQD note, but retaining exactly the same value....what's wrong with that? Am i missing something here? isn't it just about changing the denominations for convenience sake?

In my example then... if a current 10,000 IQD note is worth 0.85 then (after removing 3 zeros), new notes1 IQD note will ALSO be worth 0.85.

The way i understand it is that they will have new notes, and allow people to trade with both versions, side by side, and then slowly (but surely) take the 10,000 25,000 (and bigger) notes out of circulation.

is that not the correct way to look at this? Please let me know.

Cheers.

[Ex-wingnut]

Fellow Dinarians,

Why is it that one article that no one can prove as being true or false has been interpreted in two different ways? Lop'n the currency versus dropping the 3 zeros from the value of the dinar. Now I'm not slamming anyone in particular because that's not how I roll but this really proves that no one really have the correct answer as to what is going to happen. That's why I just chill in the cut, read these debates and tell myself to just wait until the CBI or Forex website reveals the new rate. No matter which scenario comes to fruition, I can't see myself not being pleased with either outcome. Making a profit is why we all chose to get into this investment. Some hopes are set high which others think are unrealistic and others hopes are set low [expecting the worse] and hoping for the opposite. IMO, I honestly think we all want the same thing but not everyone is preparing for it in the same manner.

[gnpostal]

Keep don't know why you are getting -1 for just giving an explanation, but + 1 for ya.

[keepmwlknfny]

Keep don't know why you are getting -1 for just giving an explanation, but + 1 for ya.

LOL thanks....guess some people dont like to hear the truth.....oh well!! Cant please everyone.....oh wait!! Yes I can......ITS GONNA RV TOMMOROW AT 7 DOLLARS!!!!

i guess, where these ppl are coming from with this idea....it's a bit like when Germany issued 1 Million Mark Notes and 10 Million Mark notes during their great depression. You needed around 2 Million Deutch-Marks just to buy a loaf of bread and a bottle of milk! That all became too stupid and inconvenient, so they brought their notes back to sensible ones...no more Millions, or thousands of D-Marks worth only pennies...like the IQD.

So germany got rid of the multi-million DM notes and replaced them with more user-friendly 1DM, 5DM, 10DM, 20DM notes...etc....so that instead of needing 2 million DM to buy your bread, paper and milk, you could do it with 2DM.

Soooo, by extension, then......if you take a 25,000 IQD note, and they want to replace that with a 25 IQD note, but retaining exactly the same value....what's wrong with that? Am i missing something here? isn't it just about changing the denominations for convenience sake?

In my example then... if a current 10,000 IQD note is worth 0.85 then (after removing 3 zeros), new notes1 IQD note will ALSO be worth 0.85.

The way i understand it is that they will have new notes, and allow people to trade with both versions, side by side, and then slowly (but surely) take the 10,000 25,000 (and bigger) notes out of circulation.

is that not the correct way to look at this? Please let me know.

Cheers.

You got it....simple redenomination aka lop, to increase the purchasing power.....

Fellow Dinarians,

Why is it that one article that no one can prove as being true or false has been interpreted in two different ways?

It can be....some people just dont wanna face the music till the guitar hits them upside the head Lopping and removing the zeros are the same thing......

[Ore]

I don't think they would introduce a new currency. I read an article about the process of creating the current current and the man behind it. It was a very long and expensive process. I am doubtful they would want to start from scratch.

I know, but the thing is that in that same article you read, it also states that the cost to produce and replace the current currency (lop), would only be about 90 million usd. Sure, we would need to add the cost of security, transport, etc. Hell, even if the total cost was $200 million usd to completely replace all the currency and put it in place, it would still be a hell of a lot cheaper than cashing out most investors (and countries) at even a 1 IQD to $0.10 usd RV... Just saying, if I was Iraq, thats exactly what I would do. At $0.10 usd RV, I would only be paying 1%, plus $200 million (replacement currency cost), Vs $600 billion usd (conservative 6 trillion IQD x $.10 usd RV, that would be immediately exchanged for another currency). Never mind an RI at $3.22 (30% cost plus 200 millios usd) Now, I know it sucks, but its a very real possibility. Remember, regardless of the hassle, its usually all about being cost effective...

Unless there is some type of secret Iraq/US agreement to put Iraq in perpetual debt....

[seus]

Completely agree with keep and a few others.

Just because they have all these resources and little in terms on actual inflation, they did vastly OVER INFLATE their currency base. They even mention the fact that they have approx. 27 Trillion dinar in circulation in that article. Way too much for an RV at almost any price.

Performing a lop will not effect investors coming to their country at all. If they do a direct redenom, you don't lose anything, just making things easier, as posted above regarding the DM. Believe me, if I was an oil company and could have an Iraqi oil field area, KNOWING there was for sure oil, I'd be all over it.

Also, when GW said the Iraq war will pay for itself, doesn't mean that it'll come from some crazy RV. It could possibly come form a number of other sweetheart deals the US has going with Iraq behind closed doors, such as infrastructure rebuilding, etc.

I know, but the thing is that in that same article you read, it also states that the cost to produce and replace the current currency (lop), would only be about 90 million usd. Sure, we would need to add the cost of security, transport, etc. Hell, even if the total cost was $200 million usd to completely replace all the currency and put it in place, it would still be a hell of a lot cheaper than cashing out most investor (and countries) at even a 1 IQD to $0.10 usd RV... Just saying, if I was Iraq, thats exactly what I would do. At $3.22 RI, I would only be paying 1%, plus $200 million (replacement currency cost), Vs $600 billion usd (6 trillion IQD x $.10 usd RV). Never mind an RI at $3.22 (30% cost plus 200 millios usd) Now, I know it sucks, but its a very real possibility. Remember, regardless of the hassle, its usually all about being cost effective...

Unless there is some type of Iraq/US agreement to put Iraq in perpetual debt....

I've said this countless times...people just kind of look at me like they've never done the math on this entire investment.

[Brudog]

I am giving you a plus. I think you maybe onto something however what I am reading into this article is we are very close to a tradeable currency. Yes it may come out low but then it will shoot through the roof with time. I am just waiting on the tradeabble part and thats when we will see thinngs happen jmo. Excuse typos i am on a dang smart phone.

maybe they didnt make it clear enough. they said remove the ZEROS FROM THE CURRENCY, for those who dont know what that is, it is what you are currently holding (currency) i am not saying that this article is real, but it 100% no doubt about it means lop, there are no if's and's or butts about it. put the koolaid down folks i want to wake up rich as well, but we will make 3 times (if you have $1000 invested you will get back $2-3000 back). trust me i have a masters in economics that is what this all means.

[Ore]

Completely agree with keep and a few others.

Just because they have all these resources and little in terms on actual inflation, they did vastly OVER INFLATE their currency base. They even mention the fact that they have approx. 27 Trillion dinar in circulation in that article. Way too much for an RV at almost any price.

Performing a lop will not effect investors coming to their country at all. If they do a direct redenom, you don't lose anything, just making things easier, as posted above regarding the DM. Believe me, if I was an oil company and could have an Iraqi oil field area, KNOWING there was for sure oil, I'd be all over it.

Also, when GW said the Iraq war will pay for itself, doesn't mean that it'll come from some crazy RV. It could possibly come form a number of other sweetheart deals the US has going with Iraq behind closed doors, such as infrastructure rebuilding, etc.

I know, but the thing is that in that same article you read, it also states that the cost to produce and replace the current currency (lop), would only be about 90 million usd. Sure, we would need to add the cost of security, transport, etc. Hell, even if the total cost was $200 million usd to completely replace all the currency and put it in place, it would still be a hell of a lot cheaper than cashing out most investors (and countries) at even a 1 IQD to $0.10 usd RV... Just saying, if I was Iraq, thats exactly what I would do. At $0.10 usd RV, I would only be paying 1%, plus $200 million (replacement currency cost), Vs $600 billion usd (conservative 6 trillion IQD x $.10 usd RV, that would be immediately exchanged for another currency). Never mind an RI at $3.22 (30% cost plus 200 millios usd) Now, I know it sucks, but its a very real possibility. Remember, regardless of the hassle, its usually all about being cost effective...

Unless there is some type of secret Iraq/US agreement to put Iraq in perpetual debt....

I've said this countless times...people just kind of look at me like they've never done the math on this entire investment.

Edited the bold from your quote of my post.

Yep. The other thing is that, a lot of people dont realize that, all the international companies investing in Iraq, are importing equipment that they bought in their own currency, such as Caterpilar, who bought the equipment they are importing there, in EUROS, not IQD. Also, the money that they are investing, they are using their own money, such as EUROS or USD. If Iraq lops their currency, it would not affect them one tiny bit....

[Brudog]

That is rock solid ore! Plus

Edited the bold from your quote of my post.

Yep. The other thing is that, a lot of people dont realize that, all the international companies investing in Iraq, are importing equipment that they bought in their own currency, such as Caterpilar, who bought the equipment they are importing there, in EUROS, not IQD. Also, the money that they are investing, they are using their own money, such as EUROS or USD. If Iraq lops their currency, it would not affect them one tiny bit....

[1978parker]

http://translate.google.ca/translate?u=http%3A%2F%2Fwww.alsumarianews.com%2Far%2F3%2F20064%2Fnews-details-.html&sl=ar&tl=en&hl=&ie=UTF-8

I looked through the posts and didn't see this version of the link. Very readible. Sorry if already in there somewhere.

[Ex-wingnut]

It can be....some people just dont wanna face the music till the guitar hits them upside the head Lopping and removing the zeros are the same thing......

You're right, it is the same thing "only" if lopping and removing the zeros from the value happens simultaneously. I might be wrong but I think those with higher expectations aren't misunderstanding that it's the same thing but are simply hoping that both scenarios don't happen simultaneously and are hoping for removal of the 3 zeros from the value only. The return will be much greater which is what anyone would want to happen. 1,000,000 dinar times $.86 (after removal of the 3 zeros), $860,000, is just more welcoming as opposed to 1,000 dinar times $.86 (lopping of the currency), $860.00. Even if the 1,000 dinar times an RV of $3.86 occurred for a total of $3,860 (still on the lop scenario) some still probably wouldn't be happy simply because if they got into this as a long term investment they will no longer see it that way because there's probably not a realistic chance that the value of the dinar will [ever] increase much higher than $3.86. Even if it did go to, say $5.00 after the lop it still will crush a lot of investor's dreams. Personally, I can't hold that against those who are hoping to make a lot of money because that's what I'd like to do as well... buuuuuut... I know I have to be prepared for whatever happens and not get too worked up over something that I currently don't have... millions of dollars. That's how I remain grounded and just hope for the best.

[aferriss]

Thank you, Sara. It's good to see articles like this. Whether or not they're true or whatever, time will tell and I have patience. So no speculation here. Again, thanks Sara!!!

[Doctor Smith]

This is Saleh's latest attempt to lop. Every time they have been turned down in the past. Who knows? Maybe they'll approve it. Just like we might get an Okie $6 dollar + RV. When it happens tell me about it. If it lops you're a dreamer if you think they're going to honor their promise to increase the value of the Dinar. This would kill their business. Stupid is stupid does though.

They should at least make it a tradable currency and give it a chance to increase in value.

[brokincaid]

Thank you Sara!

[bbry]

first of all, i am on your side, do you know what they are even talking about? if they are saying lifting zeros off nominal value then it comes off .00086. what they are saying is lifting zeros off currency (25000 - 3 zeros= 25) how much clearer can they make it.

Hello Dinar Lady

What you have to say are my words exactly. Thank you.

Edited April 13, 2011 by bbry

[Avonadina]

I was told by a currency trader that the dinar would go on the international forex and that would determine the rv amount. Does this sound right to anyone else?

[futuredinarM]

Hi everyone...

If LOP is the case, should I exchange my IQD25K notes to lower notes, now?? And where should I do this???

Do I have to go to Iraq??

Or should I open an account in some banks & deposit all in it? And which bank (in Iraq / other places)????

And when the time come, all my deposit will be the same, right??

Let say I open an account with IQD2 million in it.. Or they just delete 3 zeros from my account too & suddenly my account balance is IQD2000??

Really confused right now... :blink:

[dinarck]

Hi everyone...

If LOP is the case, should I exchange my IQD25K notes to lower notes, now?? And where should I do this???

Do I have to go to Iraq??

Or should I open an account in some banks & deposit all in it? And which bank (in Iraq / other places)????

And when the time come, all my deposit will be the same, right??

Let say I open an account with IQD2 million in it.. Or they just delete 3 zeros from my account too & suddenly my account balance is IQD2000??

Really confused right now... :blink:

If they LOP you will not be protected with lower denoms or electronic funds. They will all be affected.

[Spoolin]

LOL thanks....guess some people dont like to hear the truth.....oh well!! Cant please everyone.....oh wait!! Yes I can......ITS GONNA RV TOMMOROW AT 7 DOLLARS!!!!

Thats the problem.......What you describe is NOT the TRUTH, mush like when the opposite is stated.

The only TRUTH there is, is that nobody knows anything........So you cant explain your reasoning as if its the truth......

[Roadrunner]

Hi everyone...

If LOP is the case, should I exchange my IQD25K notes to lower notes, now?? And where should I do this???

Do I have to go to Iraq??

Or should I open an account in some banks & deposit all in it? And which bank (in Iraq / other places)????

And when the time come, all my deposit will be the same, right??

Let say I open an account with IQD2 million in it.. Or they just delete 3 zeros from my account too & suddenly my account balance is IQD2000??

Really confused right now... :blink:

First off, don't seat the LOP. I don't think that's going to happen. It has just been blown out of proportion lately.

Second if they did a LOP it would be across the board and would affect all denoms not just the 25k

Third worrying about it won't change it.

Roadrunner

Edited April 13, 2011 by Roadrunner

[futuredinarM]

If they LOP you will not be protected with lower denoms or electronic funds. They will all be affected.

Really, man?? Damn, I thought I have a strategy.. .If it works, than maybe I will fly to Iraq.. fully equipped!

First off, don't seat the LOP. I don't think that's going to happen. It has just been blown out of proportion lately.

Second if they did a LOP it would be across the board and would affect all denoms not just the 25k

Third worrying about it won't change it.

Roadrunner

Ooowh... all denoms including the IQD50 that currently in circulation, right?? Ok... that seems bad. Though I really hope it will not LOP.

One of my friends call his buddy in Iraq who works as Money changer. He tells him that most probably they will RV first, than they will change to lower denoms...can't verify the legitimate of the source though..