Perish the thought of a LOP

[Darin]

You are doing the math based solely on the physical dinar, and not including the rest of the monetary system that has to be accounted for, which is almost half of their overall monetary numbers.

The statements about being 'bought up' lose a little credibility, IMO, when one could look at a country like Japan, which has a currency value of less than 2 cents per yen. In this scenario it would be much cheaper to go after Kuwait, which has about the same oil output (although not the reserve levels), a far more sound infrastructure and would cost them much, much less money.

Your looking at the reasoning behind the numbers incorrectly.

The funds within electronic banking are than likely held by a high % of their own citizens. Basically meaning, upon a RV - they don't need to worry about those funds as the citizens will have new found wealth and spend accordingly.

The focus of the scenario is what is held by the people or groups who would likely wait for the RV and turn the IQD into a different currency. If they held their entire currency within the country... They could RV at whatever rate they wished as long as the internaitonal market respected the rate. And not have to really worry about paying out a dime as those foreign countries/people who buy in would actually end up building up their cash reserves.

Make sense???

[dinarck]

Isn't the United States holding hungreds of billions of Iraqs money and just waiting for sanctions to be lifted before returning it to Iraq? I think that money should be taken into consideration.

[Darin]

Isn't the United States holding hungreds of billions of Iraqs money and just waiting for sanctions to be lifted before returning it to Iraq? I think that money should be taken into consideration.

Some argue that the US holds IQD some argue that it doesn't. I don't think anyone has any factual proof that they do. I think Scooter found a link that basically represents the amount in value of exotic currency they hold. We refer to IQD as exotic currency, so the value would likely fit under that figure. I can't recall the amount Scoot mentioned, but I what other exotic currencies would the US hold a large amount of? You would assume the IQD would hold as the majority of those holdings, right?

I know that poverty is rather high in the country... The lack of a middle class, but lets consider that each citizen prefers the use of hard currency.

We have roughly 30 million citizens, and if each held 1 million IQD ($1,000 USD value) that would account for 30 Trillion IQD.

Now, we know that not every citizen holds that amount, but the rich make up somewhat for the poor. I still feel that a large % like resides within the country through the banks. But, those are reports we may never have access too & and have to account for by speculation. We can't really make assumption, but we can make reasonable guesses when calculating figures.

However, if someone could supply a link saying.. the UST holds this much in IQD. I would greatly appreciate seeing that.

But, I do believe they hold IQD.. Just not sure on how much. I think some believe anywhere from 3 trillion or so... (Based upon argumentative figures that upon a RV the IQD holdings would pay for the war.)

[dinarck]

Some argue that the US holds IQD some argue that it doesn't. I don't think anyone has any factual proof that they do. I think Scooter found a link that basically represents the amount in value of exotic currency they hold. We refer to IQD as exotic currency, so the value would likely fit under that figure. I can't recall the amount Scoot mentioned, but I what other exotic currencies would the US hold a large amount of? You would assume the IQD would hold as the majority of those holdings, right?

I know that poverty is rather high in the country... The lack of a middle class, but lets consider that each citizen prefers the use of hard currency.

We have roughly 30 million citizens, and if each held 1 million IQD ($1,000 USD value) that would account for 30 Trillion IQD.

Now, we know that not every citizen holds that amount, but the rich make up somewhat for the poor. I still feel that a large % like resides within the country through the banks. But, those are reports we may never have access too & and have to account for by speculation. We can't really make assumption, but we can make reasonable guesses when calculating figures.

However, if someone could supply a link saying.. the UST holds this much in IQD. I would greatly appreciate seeing that.

But, I do believe they hold IQD.. Just not sure on how much. I think some believe anywhere from 3 trillion or so... (Based upon argumentative figures that upon a RV the IQD holdings would pay for the war.)

No. I meant hundreds of billions of USD that was confiscated from Sadam or something. I don't know where it came from I have only seen on the fractional banking theory breakdown that it would be returned to Iraq when sanctions were lifted or something.

[Darin]

No. I meant hundreds of billions of USD that was confiscated from Sadam or something. I don't know where it came from I have only seen on the fractional banking theory breakdown that it would be returned to Iraq when sanctions were lifted or something.

Oh ya!!!! But, i dont' think that amount was very large.

Like in one case, I think I recall it being like 500 million or something. Not a very large amt.

And I think it was a frozen acct in the swiss bank.

A lil quick research & you may find your answer on that one.

[HopefulTxn]

Your looking at the reasoning behind the numbers incorrectly.

The funds within electronic banking are than likely held by a high % of their own citizens. Basically meaning, upon a RV - they don't need to worry about those funds as the citizens will have new found wealth and spend accordingly.

The focus of the scenario is what is held by the people or groups who would likely wait for the RV and turn the IQD into a different currency. If they held their entire currency within the country... They could RV at whatever rate they wished as long as the internaitonal market respected the rate. And not have to really worry about paying out a dime as those foreign countries/people who buy in would actually end up building up their cash reserves.

Make sense???

My question is why anyone would respect the rate when Iraq would have such a very small percentage of foreign currency and gold backing it. If there were say only 8 T dinar still in circulation, coupled with the 'electronic' would still mean they would be at less that .2% of foreign currency and gold reserve backing. And that is only looking at a 10 cent straight RV, w/ 22 T banking and 8 T physical dinar, and their $50 billion in reserves.

Isn't the United States holding hungreds of billions of Iraqs money and just waiting for sanctions to be lifted before returning it to Iraq? I think that money should be taken into consideration.

If I remember correctly, everything that the US was holding was transferred to the DFI years ago. Since they just opened the accounts in the US for them to move the DFI funds into in order to protect from lawsuits, by keeping the funds here, I am not sure they would be able to use it as a backing for their currency. But who knows.

Edited April 29, 2011 by HopefulTxn

[Ty6]

And foriegn investors arent worried about the currency......they are worried about stability....thats their focus...what would they want with the dinar when there is no practical use for it outside the country?? It wont make a difference what the currency is valued at....look at vietnam...they are posting the highest growth economically speaking because of foreign investors building up in the country and their currency is one of the worst on the planet.....if Iraq lops that wont be a deal breaker for them....they could care less....its all about stability for outside investors...

Actually, it's all about making money.

[speculatorsRIDE]

Think alot of us know the difference between the 2. I personally get sick of typing redenomination over and over so call it a LOP.

It would seem that the Arabic to English translator bots have the same problem. Re-denomination, reevaluation, raising, dropping, removing etc. Debating this topic is senseless really until we have the correct figures. We aren't anywhere close to having them yet. IMO

Everyone assumes that when Shabs said the revalue of the currency was going to happen soon, he meant in hours days or possibly weeks. We assume this because we want to. We want it over. I would submit that this revalue has been in the works for over 8 years. So soon to him maybe months. Yes, I know no one wants to hear that, but, if you think about it, it makes sense.

Everyone seems to have forgotten aboutt all the things that needed to be done before a revalue can occur. Like the HCL, GOI, WTO and remove IMF Ch 7. Progress has been made on each of these. Sort of. But none have been completed. The 3 ministers need to be seated to complete the GOI. We know Shabs said the GOI must be seated before the RV. The HCL must be completed before the Ch 7 can be concluded. But the most important thing in my book is the accession into the WTO. Because as soon as they are accepted in the WTO then all of their non liquid assets can be monetized. With all their oil, natural gas, gold, DFI funds, etc etc etc, Iraq is going to be worth 3 figure trillions of USD. I look for all these issues as scheduled to be resolved by June. Then you will see a RV and it will be a $?.?? (3 figure value). Again JMO Go RV

[imgesing]

I'm not sure why the LOP word is misused here, Not by you but the other sheep who play in the meadow. Unfortunatly from my time sitting on the sidelines I've noticed the ELOHPEE has been thrown around like aids, You never knew someone gave it to you until your mouth spews ignorant information not realizing the information is almost backwards to what you actually mean. A LOP is different then a RD, Therefore a LOP does not = 25k - 25. (This is NOT a LOP it's an RD). Between the "Educated", "Well informed", "Gurus", "Positive people", "Negative people", "Lost people", "Keep - Which is a whole Catagory by himself (No pun intended your just a funny guy)", And the "Sheep" who don't research themselves yet read only what the "Guru's" or what I refer to as the blind shephards say, and other sheeps opinion, they sure don't pay well enough attention (Or maybe they pay to much attention which is why they are confused). Before anyone jumps on the LOPtrain and rides it till the end of our investment, Please RESEARCH what a LOP is and a RD is. 2 Completely Different things. Google is a very powerful search engine, in fact I've heard recently they have more information than the CIA or any other agency can dream of having. It's not hard to do a little research instead of being spoon fed Lies, Negativity, and FALSE information, including false use of words. In conclusion a LOP is impossible, a RD is possible but not likely. I win. Thank you imgesing for popping my cherry on this site. :]

LOL I dont know about popping anyone's cherry... too funny but I appreciate the positive support. Some times using terms to express something with the wrong words disqualifies a person. Yet, the point someone is making might hold water it kind of waters their point down in my view. Anyway, I believe we are so close to the end. I feel so good about the process of an RV and no redenom or how ever people here want to describe it. LOL <<< not the dirty L O P

I have both feet in this investment and feel better as less news comes out and we seem to be holding on with less intel. A while back I was todl when things seem the least certain and most obsecure be ready... I AM READY!

I wish everyone an excellent weekend. If SHABIBI or MALIKI is watching this site... Hey GUYS come on now... The more I believe in you over there, the more likely I will take my DInar and invest in your thriving country.

I use that term simply because for the most part people understand what you say when you say LOP cause they relate that to chopping off the zeros...getting rid of the larger bills in exchange for newer ones....or redenominating......and in that context that most people use, its practically the same thing.....just makes for easier conversation and as someone else mentioned its easier to say and people will still understand..... Either way, chopping off the zeros and redenominating like the articles we have seen coming out the past 5 or so years, are meaning the same thing as well......your 25k note now has the same purchasing power as a new 25 note.....

I know KEEP but it is simply wrong use of a term. That is all. I personally do not think they will redenom either. I dont think it would be a smart move for so many reasons but hey it isnt impossible. I just strongly have looked at the news and weighing it all out it seems to be a stratigy which would hurt Iraq. The heck with me... I seriously believe that issuing new denoms and replacing the old with new ones would be an amazingly bad choice for them. Yet, like everyone here we do not know their intent or method. Once I think you said they dont care about the USA (maybe it was someoen else) and that too is so wrong. In fact they are relying on us and we are relying on them too. It isnt just monitary but political and strategic. This is going to be an amazing moment in history which to the scale of which I believe has never been before.

I am wishing for the best for all of us... Peace