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


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It amazes me how people can honestly believe things like this.

If the Dinar is Lopped by three zeroes, and a 25,000 Dinar note / bank account worth $20 US becomes a 25 Dinar note worth $20...

THE INVESTORS ARE NOT HURT AT ALL. Notes, bank accounts, debts, etc are all reduced as well.

You and I as speculators are not HURT. Our US Dollar Investment is still worth the same amount. As with everything in life, we could lose out on fees / transaction costs, but our Dinar is still worth the same amount.

Granted, there are not enough positive effects of lopping to outweight the costs... but we are talking about Arabs, who will do anything to save face or look better.... even if it costs them dearly :)

Semper Fidelis

Hi,it's me again, There so many ways to explain the LOP but yours is the best,so far. THANKS!!

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Well, I have been looking this over and reading and then reading some more. After this new article came out today , I feel it is time to weigh in with my opinion. This will not be popular with you as it is not with me. In fact after all this time for something like this to happen turns my stomach. My opinion is that I am afraid we are facing a straight up LOP. Why they would do this I'm really not sure as none of the situations that would make a country LOP its currency apply to Iraq at this time. If however you read the above article carefully that is the only conclusion I can arrive at. If I base my opinion solely off this article, I do not see an RV in here anywhere. This is what I base my opinion on:

. Article specifically says re-denomination. Remove three zeroes from Iraqi dinar. Says nothing about revaluation.

The last line really bothers me. " Iraqi economists believe the re-denomination of Iraqi Dinar will not have a major influence on the purchasing power of the Iraqi Dinar which thre government has high hopes on it". To me, another indication of no re-valuation.

Based solely on this article, the word re-denomination (not re-value).. Combine this with lift the three zeroes from the dinar, and add "will not have a major influence on purchasing power" and in my opinion it can sadly mean only one thing.....Straight up LOP.

I hope and pray that I am wrong and if anyone can show my how I am misreading PLEASE feel free to do so, but to me, all logic says if this article is true, we have wasted a lot of time here.

I have gotten to know many of you and consider you friends. Those of you who know me, know I do not like to write in the negative. unfortunately, the way this article today ( which appears to be a follow up to yesterdays article) is written, I can only come to this conclusion. I certainly hope I am wrong.

I completely agree with you on this my friend. There is nothing in this article that looks like good news to me. Nothing about increasing the purchasing power of the dinar or removing the zeros from the exchange rate. It looks and smells like a straight up lop to me. But I'm invested like you and I'm hoping that this won't be the case and we'll see a nice increase in value over time or maybe even an affordable RV (in the range of 10 or 20 cents). The last thing I want to see is a lop but I can't see how anyone on here can read anything positive into this. I want to see an RV as much as anyone but I can't see why people are twisting this article around to mean something that it isn't. I want to make big money off of this but I took off the rose colored glasses a while ago. Hopefully we'll see some positive articles in the future. This belongs in lop section!

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Hey bud, I'm not trying to argue with ya; Heck I'm on your side. The article I am referring to specifically uses the word re-denomination in 3 places. If that means anything other than what I stated would you, or anyone else explain it to me? I just want a clearer understanding. Oh by the way, whoever gave me a -1 for what I said, sorry you didn't like it. I don't like it either.

Hey Rsskelton, I'm not arguing with you either, I was just letting you know the article was different in case you didn't see that.

All good, I enjoy reading your posts and replies. I agree with you on alot of your thoughts.

I agree with your thinking on that article that you replied to.

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I might be mistaken, but I think that the three

zeros was removing the larger denominations

from the circulation--as has been discussed

many times here at DV. I saw a picture of

someone holding 10,000 notes with this same

story, but don't have a link. I think it was on

Currency News Hound today!

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IMO,,,they have begun selling iqd in 250 denoms,,,meaning they are still pulling in 25000,10000,,and 5000 notes...We are getting close to the RV,,,when enough has

be

en reclaimed,,,POP GOES THE WEASEL ,,,, PREFECT JUNE 15 2011

Edited by leola
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This is jmo. Bush said that Iraq would pay for the war! So the US and all the other countries that saved Iraq and now are holding dinars, will not let this investment go down the tubes. If Iraq tries to cut all these countries off at the knees, the US and the other countries will crush the Iraqi economy and suck the oil out and leave nothing but desert behind. China, Turkey, Russia and Iran will have that country torn apart again. Sooooo! Iraq will play their games right up to the time they have to pay up, and then this Dinar will RV. I dont know when but I hope its soon.

IMO, it will start out at $.10 (I hope this month, I will hold mine, maybe sell a few!) then Forex will take over and it will run up to 1 IQD to 1 USD and hold; then it run up to $2 then $3 and then level off. This could take up to 1 year, but it will come. If they pull a lop or drop; investors will laugh at them for a while and then go some where else for their profits. They won't invest with someone they can't trust to play fair. Remember, the small individual investors are like a fly on the back of an elephant. We are a means to their end, not ours. They needed our dollars to replace all the dollars that they stole and stashed away. (Remember that most of that money was Billions of US Dollars) Now its time for them to pay it back and we will be on the receiving end this time.

GO RV ... GO NOW!

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I have a master's in economics and accounting, but I'm not claiming that for the sake of this post or this investment. You absolutely CANNOT read into anything that is put out of that country. You can read it for entertainment value, but you can't place too much weight in it. They will never come out and tell you straight one way or another, because they can't. This investment isn't about finding that elusive article that tells you exactly what's going to happen, because it does not exist. My father told me about this investment, and also told me to believe nothing in print. When China revalued, they took out full page ads in the New York Times, USA Today, and others the week before saying something to the extent of "No way will we revalue the Chinese Yuan...it will be catastrophic to our economy, etc... What happened one week later?

Don't get caught up in the misinformation. Also, note the declining M2 ratio on the CBI website. This is indicative of a depleting money supply (as the M2 measures currency in circulation). The 'lifting' or 'deleting' of the zeroes from the money supply would cause the M2 to decrease, as evidenced by the economic indicators on the CBI website.

Don't fear the LOP - because the numbers don't point to it, because people like Ali say it's not happening, and mainly, because you can't do anything about it.

As David Cassidy once said......." I THINK I LOVE YOU."

Peace

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“…the process of deleting three zeros from the Iraqi currency will lead to a revaluation”

– Dr. Hilal Al-Tahan, economist

Note: An article very similar to this news story has been posted on Currency Newshound. However this particular article uses the word “revaluation” in Dr. al-Tahan’s quote. I thought it was interesting and wanted to share it with you. It is very difficult to find an article speaking of currency revaluation and iraqi dinar in the same context. Enjoy!

Delete the zeros of the Iraqi currency of the important issues of concern to economists at the present time and this made the call Central Bank Governor Sinan al-Shabibi to come to the House of Representatives at its yesterday to discuss this issue, members of Parliament have discussed with the Governor a number of economic aspects of interest to the public sphere

In addition to (deletion of zeros) of the Iraqi currency in and out, with a nominal value of cash and keep Bakimiteha purchasing. Adviser to the CBI the appearance of Mohammed Salih said: The current year will witness the launch the process of removing zeros, stressing that the bank has completed 50% of the preparations that are working on since 2005.

And added to the Agency for News: The strategy is based on the principle of gradual substitution of the Iraqi currency with another, less three zeros, and pointed out that the positives of this strategy is that it will be less expensive and easier to trade. He continued that the deletion of zeros from the Iraqi currency will depend on the long-term monetary policy.

From currency newshound, note the bold. Not sure if I am allowed to post the link or not.....

T,

Edited by Uncle Munsch
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There is no LOP guys that is for a de-value in currency to remove the 3 zeros would be the nominal value it trades on forex and xe for like.00086

so then it is called a redomination.....It is a very good sign for us as investors. Once again I must state it does not say anything about the dinar notes such as

the 10,000 or 25,000 note being 10 or 25 because they have already made these lower denoms for this purpose. What it means is that it would trade like the dollar

and since it is pegged to the dollar it only makes sense to flucuate.86 than .00086 so in reality it will only go up on the production of good and services of Iraq.

Donot forget it still can be re-valued as well !!!!! GOOOOOOOOOOOOOOOOOOOOOOOOOOO! RV

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There is no LOP guys that is for a de-value in currency to remove the 3 zeros would be the nominal value it trades on forex and xe for like.00086

so then it is called a redomination.....It is a very good sign for us as investors. Once again I must state it does not say anything about the dinar notes such as

the 10,000 or 25,000 note being 10 or 25 because they have already made these lower denoms for this purpose. What it means is that it would trade like the dollar

and since it is pegged to the dollar it only makes sense to flucuate.86 than .00086 so in reality it will only go up on the production of good and services of Iraq.

Donot forget it still can be re-valued as well !!!!! GOOOOOOOOOOOOOOOOOOOOOOOOOOO! RV

thank you and i agree with you.

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Wednesday, April 13, 2011 09:58 GMT

Iraq’s Central Bank announced on Tuesday that the project of Iraqi Dinar re-denomination consisting of removing three zeroes is close to completion.

The re-denomination project is believed to be a strategic plan that will be passed to the ministerial council and Parliament once complete.

The plan to remove three zeroes from the Iraqi Dinar is a strategic plan that the central bank is currently finalizing, Central Bank’s advisor Mothahhar Mohammed Saleh said in a statement to Alsumaria News.

This plan aims to alleviate transactions cost and help people carry less money, Saleh said noting that Iraq seeks to produce 6 to 12 oil barrels which is expected to increase the value of Iraqi dinar and boost development, he said.

Iraq’s central Bank has managed during the past five years to reduce inflation rates from 34% to 3 or 4% and stabilize Iraqi Dinar exchange, the Central Bank’s advisor told Alsumaria News.

In an earlier statement to Alsumaria News, Iraq’s central Bank adviser Mothahhar Mohammed Saleh affirmed that the bank plans to remove three zeroes from the Iraqi Dinar noting that the zeroes which were added to the Iraqi currency previously constituted a large money supply estimated at 27 trillion Iraqi Dinar.

Saleh revealed on the other hand that Iraq engages for the first time in banks payment system as it moved from manual to electronic clearance. The system includes six banks in addition to electronic deeds exchange, he said adding that the smart and credit cards will be bound to the central bank system.

The Central Bank will form after three years what is known to be as the payments council which sets forth Iraq’s banking protocols and infrastructure, the central bank’s adviser said.

Iraqi economists believe the re-denomination of Iraqi Dinar will not have a major influence on the purchasing power of the Iraqi Dinar which the government has hopes high on it.

http://www.alsumaria.tv/en/Economics-News-Iraq/3-62912-Iraq-Central-Bank-to-remove-three-zeroes-from-Iraqi-Dinar.html

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So were did the CBI announce this Lopp, its not anywhere we can find apart from on a radio show and a lopp is not what was said, maybe someone can show me if im wrong. Also why would the CBI give us all a heads up on what they are going to do before reporting to the GOI. Banks just don't do this sort of thing. EVEN AND IRAQY ONE LOL

I think this was made up for our benefit.

Something is going on but not sure its a straight Lopp,

You never know it might even be an RV,

SHUT UP YOU FOOL DON'T START ANOTHER RUMOURRRRRRRRRRRRR

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I have a master's in economics and accounting, but I'm not claiming that for the sake of this post or this investment. You absolutely CANNOT read into anything that is put out of that country. You can read it for entertainment value, but you can't place too much weight in it. They will never come out and tell you straight one way or another, because they can't. This investment isn't about finding that elusive article that tells you exactly what's going to happen, because it does not exist. My father told me about this investment, and also told me to believe nothing in print. When China revalued, they took out full page ads in the New York Times, USA Today, and others the week before saying something to the extent of "No way will we revalue the Chinese Yuan...it will be catastrophic to our economy, etc... What happened one week later?

Don't get caught up in the misinformation. Also, note the declining M2 ratio on the CBI website. This is indicative of a depleting money supply (as the M2 measures currency in circulation). The 'lifting' or 'deleting' of the zeroes from the money supply would cause the M2 to decrease, as evidenced by the economic indicators on the CBI website.

Don't fear the LOP - because the numbers don't point to it, because people like Ali say it's not happening, and mainly, because you can't do anything about it.

By far the best post in this thread. +1

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Just found this and is the first time I've seen it in a news article from an Iraqi source.

"Wednesday, April 13, 2011 09:58 GMT

Iraq’s Central Bank announced on Tuesday that the project of Iraqi Dinar re-denomination consisting of removing three zeroes is close to completion.

The re-denomination project is believed to be a strategic plan that will be passed to the ministerial council and Parliament once complete.

The plan to remove three zeroes from the Iraqi Dinar is a strategic plan that the central bank is currently finalizing, Central Bank’s advisor Mothahhar Mohammed Saleh said in a statement to Alsumaria News. "

Here is the link: http://www.alsumaria.tv/en/Economics-News-Iraq/3-62912-Iraq-Central-Bank-to-remove-three-zeroes-from-Iraqi-Dinar.html

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snapback.pngdhr05b, on 13 April 2011 - 11:25 AM, said:

I have a master's in economics and accounting, but I'm not claiming that for the sake of this post or this investment. You absolutely CANNOT read into anything that is put out of that country. You can read it for entertainment value, but you can't place too much weight in it. They will never come out and tell you straight one way or another, because they can't. This investment isn't about finding that elusive article that tells you exactly what's going to happen, because it does not exist. My father told me about this investment, and also told me to believe nothing in print. When China revalued, they took out full page ads in the New York Times, USA Today, and others the week before saying something to the extent of "No way will we revalue the Chinese Yuan...it will be catastrophic to our economy, etc... What happened one week later?

Don't get caught up in the misinformation. Also, note the declining M2 ratio on the CBI website. This is indicative of a depleting money supply (as the M2 measures currency in circulation). The 'lifting' or 'deleting' of the zeroes from the money supply would cause the M2 to decrease, as evidenced by the economic indicators on the CBI website.

Don't fear the LOP - because the numbers don't point to it, because people like Ali say it's not happening, and mainly, because you can't do anything about it.

Read more: http://dinarvets.com/forums/index.php?/topic/62319-the-central-bank-about-to-put-the-final-touches-on-the-draft-to-three-zeros-of-the-iraqi-dinar/page__st__100#ixzz1JSHf4zhi

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snapback.pngdhr05b, on 13 April 2011 - 11:25 AM, said:

I have a master's in economics and accounting, but I'm not claiming that for the sake of this post or this investment. You absolutely CANNOT read into anything that is put out of that country. You can read it for entertainment value, but you can't place too much weight in it. They will never come out and tell you straight one way or another, because they can't. This investment isn't about finding that elusive article that tells you exactly what's going to happen, because it does not exist. My father told me about this investment, and also told me to believe nothing in print. When China revalued, they took out full page ads in the New York Times, USA Today, and others the week before saying something to the extent of "No way will we revalue the Chinese Yuan...it will be catastrophic to our economy, etc... What happened one week later?

Don't get caught up in the misinformation. Also, note the declining M2 ratio on the CBI website. This is indicative of a depleting money supply (as the M2 measures currency in circulation). The 'lifting' or 'deleting' of the zeroes from the money supply would cause the M2 to decrease, as evidenced by the economic indicators on the CBI website.

Don't fear the LOP - because the numbers don't point to it, because people like Ali say it's not happening, and mainly, because you can't do anything about it.

Read more: http://dinarvets.com...0#ixzz1JSHf4zhi

Bravo post Sir............biggrin.gif

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Sorry, thought I finally found something. Bummer.

Hey Fireplug,the truth is they are not dropping the three zeros.They are taking the bills with the three zeros out of circulation,kind of like the US did with the $500,$1,000,5,000 and 10,000 bills.The 25,000 dinar note will still be worth whatever the RV dictates.If the dinar RV's at $3 that would make your 25,000 dinar note valued at $75,000.

Semper Fi !!!

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