Central Bank: It is time to re-evaluate the currency, commensurate with the price changes and the wage in the economy

[TXPoleman]

Not sure why some think a 25k note will be worth only what a 25 note is worth, ie, the ugly lop...I think we have to remember, lots of Iraqis hold 25k notes. Can you imagine the uproar and riots in their own country if they did this??? Just don't see that happening. IMHO - I think the CBI will go counter to a lot of other projections and go for the big score, ie, a re-value that is significant, meaningful and gets lots of press - just IMHO. Like way more than $1 to 1 dinar...

[Aqua Dude]

Folks... Why on Earth are you raving about this? Did you read it? Its like standing on the train tracks rooting for the train coming at you. Re-evaluate is completely different then Re-value.

Why would the shop owners not want this as stated in the article? They would be freaking drunk with excitement. This is not what you think it is. I want it too but for goodness sakes don't root for a LOP. You have been mislead about them removing the 3 zero currency from mistaken gurus. That would make cash transactions more difficult not less.

Means 1 Dinar is worth 1 Dollar after the removal of the 3 zeros. We think when they use the words "to improve purchasing power" that they mean they can buy more goods right? More value per Dinar. That is not what they mean. They are saying What you used to buy for 1000 Dinar you can now buy with 1 Dinar. This is a cultural difference in the use of purchasing power definition. Both correct, but not the way we investors want to view it. Please understand I am trying to help you see this and not trying to be negative. I don't want a lop. I want them to do it without a lop and see where the international market will take them. Our chance for ultimate profit resides in a non-lop non 3 zero removal scenario. Be well.

you are retarded, you don't know what you are talking about

iraqi was using/is using US money....so there is no...what used to be bought with 1000 dinar will be bought with 1 dinar.......educated yerself before u blab

[dinarck]

Drox may also be over looking something. The lost in translation factor. Remember that the Arabic language has only about 1500 (might be 15,000) words and English has over 2.5 million (or someother huge number). perhaps Revaluation does not exist in Arabic and it comes out as re-evaluate and/or re-institute? I see nothing but good in this artcle. The shopkeepers have been whining for a long time about a change in money process as they have been hoarding dollars and large note Dinars and that is about to end. They will have to step up to the future and are naturally apprehensive. Can't really blame them as the GOI trust factor there is so low. Food for thought.

Problem is there has been numerous articles with numerous different quotes that clearly say a redenomination is the plan. Can't be ignored anylonger or simply written off as lost in translation.

Not sure why some think a 25k note will be worth only what a 25 note is worth, ie, the ugly lop...I think we have to remember, lots of Iraqis hold 25k notes. Can you imagine the uproar and riots in their own country if they did this??? Just don't see that happening. IMHO - I think the CBI will go counter to a lot of other projections and go for the big score, ie, a re-value that is significant, meaningful and gets lots of press - just IMHO. Like way more than $1 to 1 dinar...

Don't think there will be an uproar when the new 25 note is worth the same as the 25,000 note. People will simply spend the 25,000 notes and they will fade from existence.

you are retarded, you don't know what you are talking about

iraqi was using/is using US money....so there is no...what used to be bought with 1000 dinar will be bought with 1 dinar.......educated yerself before u blab

Drox................ Gonna let you take this one. HAHA Shouln't be hard.

[bluejay]

OK say if they LOP does that mean the US and other countries loose as we do, or is it different for them???

[drox]

We shall see.... as I said I am completely against a lop and I think in the end they will choose not to. I have noticed that Saleh often gives competing proposals. His job seems to basically be to stir the pot and forward ideas from the CBI and to sit back and evaluate the reactions. I have noticed this for the last couple of years from him. Creating gossip can be one of the greatest forms of marketing if you think about it. Its effective and cheap.

So... I would say, watch to see if some new articles come out about the 100,000 notes again. It is my belief (and hope) that they will choose to introduce 100k notes in lieu of a lop. It will cost less and be evidence (to me) that they are ignoring or postponing a lop and will try reduce the money supply organically versus an artificial lop. So lets watch for that conflicting 100k article to come out soon.

I don't want to change anyone's hopes or theory. Just offering up another perspective for you and ask that everyone stays grounded that anything could occur.

[dinarck]

OK say if they LOP does that mean the US and other countries loose as we do, or is it different for them???

Show me how much IQD the US or China holds. The fact is we don't know. Maybe both these countries knew from the beggining Iraq would have to redenominate. For all we know the trillions of IQD held by these countries was all made up by the pumpers while attending pumper university.

[drox]

you are retarded, you don't know what you are talking about

iraqi was using/is using US money....so there is no...what used to be bought with 1000 dinar will be bought with 1 dinar.......educated yerself before u blab

Momma always said... "Stupid is as Stupid does."

I will gladly debate you on any Iraqi topic of your choosing Aqua Dude. As someone that is involved in the Downs Syndrome community with many friends with Downs kids I find your use of the word retarded as offensive and a telltale sign of your intellect and consciousness. What you are referring to (but fumbling over your words) is called dollarization. Which is yet another reason why Iraq wants to strengthen the Dinar. So that they don't have as many citizens and local markets using the US dollar. Granted oil will continue to be traded in Dollars.

Edited April 19, 2011 by drox

[bbry]

Please correct me if I am wrong. Didn't something very similiar get posted over 2 years ago?

[dinarck]

Momma always said... "Stupid is as Stupid does."

I will gladly debate you on any Iraqi topic of your choosing Aqua Dude. As someone that is involved in the Downs Syndrome community with many friends with Downs kids I find your use of the word retarded as offensive and a telltale sign of your intellect and consciousness. What you are referring to (but fumbling over your words) is called dollarization. Which is yet another reason why Iraq wants to strengthen the Dinar. So that they don't have as many citizens and local markets using the US dollar. Granted oil will continue to be traded in Dollars.

Well said.

[bluejay]

Show me how much IQD the US or China holds. The fact is we don't know. Maybe both these countries knew from the beggining Iraq would have to redenominate. For all we know the trillions of IQD held by these countries was all made up by the pumpers while attending pumper university.

Ohh another bubble has been popped, But Thanks for shedding the light...

[bbry]

This is another graduate of Pumper University.

[dinarck]

Please correct me if I am wrong. Didn't something very similiar get posted over 2 years ago?

I believe so. I think redenomination has been in on the drawing board for some time. I am unsure of the reason why they want to implement it now. Maybe has something to do with inflation or maybe they are just using it as smoke. Which ever the case they are actively putting out articles on it and it is unnerving to say the least. Guess we will have to wait and see. You do have to admitt that it would work in Iraqs' case. All of the "it is impossible for Iraq to LOP" people should really be opening their eyes at this point. Hopefully it won't happen but pray for the best and prepare for the worst.

[Aqua Dude]

Well said.

Look JeEEEennnnnnYY, stop suckin up to Forest Bumped his head and posted something stupid

Look forest, I apologize for using words that offended your community, but as you know, based on your words, you work in the down syndrome dept. not the retarded dept.....using the term retarded in the way i used it refers not to your community as to I used it in reference to you way of analytical thinking...which is retarded

you can attempt to classify my intelligence in any manner you wish, that does not change my status, irl, this board and the words spoken upon me changes nothing irl

likewise, what i say about you changes nothing in your real life, now in saying that

we all know LOP is not going to occur, we also know that most of those news sites out there are just like blog sites here in the US, they are made and updated by private orgs or orgs that are privately funded and have an agenda...i called you retarded because u failed to look at the bigger picture.....you failed to include the factors of "lost in translation" you failed to include the fact that LOP does not generally happen in democratic countries, you failed to compare US Large bill removal from circulation to the iraqi situation

talk about my intelligence all you want, but you are the one that post this negligent analysis, neglecting to take in all factors before verbalizing your opinion shows truly whose intelligence needs to be scrutinized

[Bumper64]

Let's Play Nice here guys!!

No need for anyone to be calling anyone names in this thread!!

Stay on topic!!

[harry2299]

Look JeEEEennnnnnYY, stop suckin up to Forest Bumped his head and posted something stupid

Look forest, I apologize for using words that offended your community, but as you know, based on your words, you work in the down syndrome dept. not the retarded dept.....using the term retarded in the way i used it refers not to your community as to I used it in reference to you way of analytical thinking...which is retarded

you can attempt to classify my intelligence in any manner you wish, that does not change my status, irl, this board and the words spoken upon me changes nothing irl

likewise, what i say about you changes nothing in your real life, now in saying that

we all know LOP is not going to occur, we also know that most of those news sites out there are just like blog sites here in the US, they are made and updated by private orgs or orgs that are privately funded and have an agenda...i called you retarded because u failed to look at the bigger picture.....you failed to include the factors of "lost in translation" you failed to include the fact that LOP does not generally happen in democratic countries, you failed to compare US Large bill removal from circulation to the iraqi situation

talk about my intelligence all you want, but you are the one that post this negligent analysis, neglecting to take in all factors before verbalizing your opinion shows truly whose intelligence needs to be scrutinized

Aquadude...You are way, way outta line here...Drox has been in this a very long time and is a very respected member, for you to post such arrogance is a joke.I think you need to do alot more research on the dinar, and also learn some respect.This site is getting out of hand anymore....people dont have to agree on everything or anything for that matter, BUT at least show respect.......DROX, thank you for your post.

[Islandgirl7]

Let's Play Nice here guys!!

No need for anyone to be calling anyone names in this thread!!

Stay on topic!!

Thank you Bump...I hate it when people get off track...bring the facts, respectful answers, and intelligent questions and perspective...

Please leave the name calling in the sand box....

[drox]

Aqua dude...

I will try and address your questions. We all do not know with any certainty if it will lop or not. It is an option as there are many options of potential outcomes. Don't be foolish to assume that "everyone knows it won't lop".

So, would the following countries be considered Democratic countries that have Lopped?

Belarus, Bulgaria, Poland, Turkey, Russia, Argentina, Brazil, Israel, and Romania? I left off Germany because they lopped in 1923 and I wouldn't consider them Democratic. They all lopped with the help of the IMF because their currency had gotten out of hand. Many in the trillions and even some in the quadrillions. You would need a degree in astrophysics in some of those countries just to purchase something. Now a lop doesn't just work automatically.

You have to have certain prerequisites in place first.

1. The inflationary trend must prove to be low and stable. It does not mean they are in hyper-inflation to lop, but after a balance has been created and with proven stability for some time. Re-denominating during hyperinflation is useless and expensive. It would simply be a cosmetic fix because the problem will persist.

2. The government and the economy must be stable and the GDP growing and prosperous. You must have stability in the market which Iraq somewhat has. The future certainly looks bright and security has been improved. Banking, education, infrastructure, ISX, employment, opportunity are all doing better. Clearly much is still needed and many important laws are still in need of passing. In particular HCL and modifying the Investment Law to provide Iraqis with similar incentives to what they are providing to outside investors. Corruption is a gigantic problem and will be addressed in the Investment Law amendment as well as through other bills. GOI Minister appointments must conclude and infrastructure, privatization of industry, technology in banking must continue, Kuwait needs to be addressed more than the 5% in the DFI, and oil metering must be completed. So the when or if they re-denominate is based on many factors.

On your media question: Do you mean Jamal Watermelon isn't the Iraqi Tom Brokaw? Of course they all have their agenda. I don't dispute that. But... By chance have you read the hundreds of 3 zero articles that come out through the years addressing this subject. I would contend that it has more to do with the lens you chose to read the article through versus the corruption of the article itself.

On your large US Bill compared to Iraq question:

Did you know that they made a $500, $1000, $5,000, $10,000, and even a $100,000 note in the US? Although they are still technically legal tender in the United States, high-denomination bills were last printed in 1945 and officially discontinued on July 14, 1969. The Federal Reserve began taking high-denomination bills out of circulation in 1969. For the most part, these bills were used by banks and the Federal Government for large financial transactions. This was especially true for gold certificates from 1865 to 1934. However, the introduction of the electronic money system has made large-scale cash transactions obsolete. I hope this answers your questions.

What else ya got?

[dinarck]

Look JeEEEennnnnnYY, stop suckin up to Forest Bumped his head and posted something stupid

Look forest, I apologize for using words that offended your community, but as you know, based on your words, you work in the down syndrome dept. not the retarded dept.....using the term retarded in the way i used it refers not to your community as to I used it in reference to you way of analytical thinking...which is retarded

you can attempt to classify my intelligence in any manner you wish, that does not change my status, irl, this board and the words spoken upon me changes nothing irl

likewise, what i say about you changes nothing in your real life, now in saying that

we all know LOP is not going to occur, we also know that most of those news sites out there are just like blog sites here in the US, they are made and updated by private orgs or orgs that are privately funded and have an agenda...i called you retarded because u failed to look at the bigger picture.....you failed to include the factors of "lost in translation" you failed to include the fact that LOP does not generally happen in democratic countries, you failed to compare US Large bill removal from circulation to the iraqi situation

talk about my intelligence all you want, but you are the one that post this negligent analysis, neglecting to take in all factors before verbalizing your opinion shows truly whose intelligence needs to be scrutinized

Really? You know a LOP isn't going to occur. Please. That is about the most unlogical statement I have heard to date. Sounds like to me you don't know sh@t!

[quadraph0nic]

Man all I'm going to say is that there are trillions of dinars out there being backed by billions of our money...

thats like a 1000% difference....

you want to see billions backing billions even in some kind of fractional banking scenario....look at the key financials from other oil producing nations in the region from their central banks!

and then all these other news articles naming turkey........BLahhhhhh!!

we just have to hold on and let it unfold...

at least the m2 went down....and their foreign reserves haven't been looted by Maliki the great...thats the only positive thing I have to hold on to ...

.

http://cbi.iq/documents/key%20financial.xls

Monetary Base (End of period, in billions of Iraqi dinars)

Sources (a+ 49,923

a - Net Foreign Assets of CBI 57,194

GO APPRECIATION!!

Edited April 19, 2011 by quadraph0nic

[kevnutz]

Very nice. Let's count down. Where do we begin?

start at 21 trillion.

[BLEACHERMAN53]

GREAT! My alarm is set to RV-O'clock! Ring ring ring.....Thanks for the good morning news.......

[sonny1]

i had this translated in arabic to english,by my dubai buddy. what they are saying is its time to revalue there currency to get on par with goods and services, and the only way this would be a sucess is for the rate to be around $1.00. it also seems that they have a sense of urgency on doing this as well. i know i dont come on this site anymore, but it was painful watching people getting the meaning of this article wrong......

[JuryPicker]

I just checked GoDaddy and www.DinarLop.com is available. Somebody needs to buy it and start a lop forum board. You'll get rich rich rich. This is just about all you read on this board anymore. Cloudy Days

i had this translated in arabic to english,by my dubai buddy. what they are saying is its time to revalue there currency to get on par with goods and services, and the only way this would be a sucess is for the rate to be around $1.00. it also seems that they have a sense of urgency on doing this as well. i know i dont come on this site anymore, but it was painful watching people getting the meaning of this article wrong......

Thanks Sonny.

[Islandgirl7]

Thank you Sonny... I'll take a dollar...wouldn't know what to do with myself....

[Dinar_Eddie]

does LOP mean Large Overdue Profits?