too many zeroes: iraq plans to change currency niqash | Mayada Daood | wed 27 apr 11

[imgesing]

Well I see this as a very positive article. It is clearly stating that 1 dinar will hold the same value that 1000 dinar currently has which is .85

RV at .85..... : and I will take that all the way to the bank if I am right!

You are correct but that is the starting point from there I expect they will RV after they redenominate and raise the value in the 2-4 dollar range. I am just not sure if this will be coming out first in the uper 1 dollar range or 2 dollar range. It is my oppinion if they do not have a trade in of say 90 days the value of the new currency will go up fairly quickly. They will make money if this happens So sit back and enjoy the ride. It will be an interesting show.

Peace.

[leola]

Well,if,,,that`s not the pits,,,I got to negs,,, for stating a fact...Is there anyone on this forum willing to give up 1000 for 1...someone is really off the mark,,,,,thanks for your clear and positive responce................and I stand by my statment,,,anyone willing to give up 1000 for 1 is a fool,,,I don`t care how you justify it

dinark,,,,they stuck it to you,,,for YHO

Edited April 28, 2011 by leola

[biker1600]

I sure don't understand how this is positive.. I see this as very very negitive. 1,000000 dinars will be exchanged at approx. $850.00 That will give me a big profit of about $100.00 dollars per million after holding them for 7 years. I'll wait and see how this plays out. I see plenty of smoke and mirrors and dis-information lately.

That is not it. It's like this

1 Dinar will = .085 US

10 Dinar will = $8.50

100 Dinar will = $85.00

1000 Dinar will = $850.00

10000 Dinar will = $8500.00

1000000 Dinar will = $85,000.00

10,000,000 Dinar will = $8,500,000.00

[dinarck]

I think your viewing it wrong.

Say your going to buy something that is 100,000 IQD... It takes you 4 notes of 25,000 IQD to make that purchase

Okay, so they lop/rd and everything is affected appropriately. The same 100,000 IQD item is not 100 IQD. It'll basically have two prices

100,000 IQD for Pre-LOP IQD

100 IQD for Post-LOP IQD

You would need 4 25,000 IQD notes to buy at pre-lop value

You would need 4 25 IQD notes to buy at post-lop value

Value you pay would be dependent upon which IQD you have. The newly re-denominated value or the old?

Maybe you carry 2-25 new-IQDs & 2-25,000 old-IQDs. You could still buy that item.

But here is the problem, it would cause some confusion... You still carry 4 bills to make that purchase. Now you have to use two seperate sets of denoms.

Not to mention from what I have read some still prefer the use of the dollar for it's value & stability.

Now, we have basically 3 currencies within a country. The dollar holds the highest value.

An old IQD set of denoms everyone is used to seeing

A new set of IQD denoms that are new to everyone.

No way that would be an easy transition. Some would be left confused, some would have the sense of their wealth removed, and some may say heck with it all. I'm just going to use the dollar.

I don't see what goal they reach here in a short-term manner as they don't fix dollarization, citizens still carry same amount of bills (Maybe even more), the mathematical standpoint may cause even more confusion.

Pros? A higher exchange rate representing a stronger value to the public eye outside the country.

Maybe simpler transactions within the banking industry... Not many calculators go into trillions ::

But all at a cost to the CBI & no change in purchasing power.

HMMMmmmmm...

We sit & wait & see how this all turns out.

What I would think they would do is bring the exchange rate inline with the USD to start. They will only have one price per item. Lets say that price is 25. You can use USD, the new 25 note, or the 25,000 note. It will simply be known that the 25,000 note will be worth 25. Over a period of time USD will be phased out because it is no longer needed.

That is not it. It's like this

1 Dinar will = .085 US

10 Dinar will = $8.50

100 Dinar will = $85.00

1000 Dinar will = $850.00

10000 Dinar will = $8500.00

1000000 Dinar will = $85,000.00

10,000,000 Dinar will = $8,500,000.00

Not

[Pammy59]

Hey..I thought Iraq(CBI) was drawing in all the 25,000 bills and destroying them and make smaller denoms for it. Last I heard almost all were taken in. Our 25,000 bills they want and they can only get them through an RV. Back and forth..now everyone is on the LOP thing again...I am thinking..better not say....<_<Any comments from someone that has intel connections...Please..............

[dinarck]

Well,if,,,that`s not the pits,,,I got to negs,,, for stating a fact...Is there anyone on this forum willing to give up 1000 for 1...someone is really off the mark,,,,,thanks for your clear and positive responce................and I stand by my statment,,,anyone willing to give up 1000 for 1 is a fool,,,I don`t care how you justify it

dinark,,,,they stuck it to you,,,for YHO

Thats fine. They can give me all the negs they want. Doesnt change what we are being told by the CBI, Shabibi, and all these articles. If peolpe want to take it out on me then fine. By the way, you do realize the 1 note you will get for the 1000 note will have the same worth as the 1000 note did. You will lose NOTHING. Except maybe your dream of becoming a millionare overnight.

[Dogma]

If the CBI holds 50$B in cash-reserves

And a LoP makes 24-27T into 24-27B, than consider to multiply it by $0.85... That means their entire money supply in circulation is anywhere from 20-23 billion (in terms of USD value)

Now, with a majority held within the country, they would only need to cash-out those that send their IQD in for exchange. Basically speaking, the cash-reserves alone could handle double the value upon a LOP. Considering most IQD would not be cashed out as it would hold a higher value than the USD. They could easily triple the value after a lop. Hence, this is why some may believe a LOP followed by a RV is possible. this puts them at a high exchange rate in the $3 range. Meaning we basically double or triple our initial investment (maybe more for those invested longer)

This is how it would make sense for them to lop.... A plain & simple lop does not make sense to me. Poverty still exists, no additional purchasing powre, same amount of bills carried, confusion in different aspects, and also the feeling of lost wealth (again), all which may lead to increase civil unrest.

I think a LOP is possible, but only if it is followed by an increase in purchasing power. I believe they would wish to move away from the people using the dollar (a situation called dollarization).

If 1 USD still has a higher value of 1 IQD ($1 vs $0.85) even a lop may not entirely fix the issue as some may feel the dollar is more stable and a stronger value.

It would be a conservative approach to make their exchange rate more appealing.. But the CBI would lose out on the potential income it makes from the rise in value. (Money made from the spread as transactions occur from buying/selling)...

When compared to Turkey - they did it for accounting & banking purposes.. Less figurative #s to work with. (In other words, not too many zeros)... But these articles attempt to say it would make cash transactions easier and people would carry less $. In my opinion, not necessarily true. If an item costs 25k pre-lop & 25 iqd post-lop... It would still be 1 bill you need to use to purchase the item. And, I am sure it is not hard to figure out not to include 3 zeros based upon transactions.

If the RV is done correctly with the "right" introductive rate.. They could come out ahead in this scenario... The problem is, finding the perfect rate & the perfect time. Who would buy-in after a rv of $3+ dollars... Who would realistically sell at $0.01..... If for every IQD sold back to the CBI, a buyer is readily available to purchase that same amount of IQD.. The cash reserves are not affected as the CBI makes profit from the spread.

This would also mean they only have to introduce new lower denoms & not re-denominate the entire currency.

Make sense? A lop is more of a safe-bet, conservative approach, and more of a public image route imo.

Ding,ding,ding-you are correct Sir!!!

[Darin]

Thats fine. They can give me all the negs they want. Doesnt change what we are being told by the CBI, Shabibi, and all these articles. If peolpe want to take it out on me then fine. By the way, you do realize the 1 note you will get for the 1000 note will have the same worth as the 1000 note did. You will lose NOTHING. Except maybe your dream of becoming a millionare overnight.

They still may prefer to use a dollar for the stability factor.

how exactly would they relevantly rv to the level of a dollar post-lop? Not much gain there... And for us speculators, we still in a sense lose due to the mark-ups we paid for the 1170. Not that big of a deal, its the risk we take, but..... One has to remember, they're not infusing wealth into the country. It's remaining the same.

Same unemployment level

Same poverty level

And possibly mass-confusion & increased civil unrest.

A lop would put an end to the ride, but a long-term incrimental increase in the value would seem ideal - just stressful to the speculative investor.

I think $ can be made for them upon the RV... If done right.

[Carrello]

----------------------------Anyone,,,who believes that,,,1000 of anything is the same as 1,,,IS A FOOL!!!!! I will make you a better deal,,,send me your $100 bills,,,and i`ll send you back $1 ,,,TRY THAT ON FOR SIZE -------------Tell Shabibi to send me all his US dollars and i`ll give him the same deal

I think you need to think about this before you post anything else.....

That is not it. It's like this

1 Dinar will = .085 US

10 Dinar will = $8.50

100 Dinar will = $85.00

1000 Dinar will = $850.00

10000 Dinar will = $8500.00

1000000 Dinar will = $85,000.00

10,000,000 Dinar will = $8,500,000.00

I believe your post should read:

100,000 = $85,000

1,000,000 = $850,000

[dinarck]

They still may prefer to use a dollar for the stability factor.

how exactly would they relevantly rv to the level of a dollar post-lop? Not much gain there... And for us speculators, we still in a sense lose due to the mark-ups we paid for the 1170. Not that big of a deal, its the risk we take, but..... One has to remember, they're not infusing wealth into the country. It's remaining the same.

Same unemployment level

Same poverty level

And possibly mass-confusion & increased civil unrest.

A lop would put an end to the ride, but a long-term incrimental increase in the value would seem ideal - just stressful to the speculative investor.

I think $ can be made for them upon the RV... If done right.

Yeah I agree the exchange rate should be raised well past the USD at the time of redenomination.

I am just not sure that they will right away. Alot of articles suggest the purchasing power wont increase. Maybe the authors just dont have that info. Also they talk about inflation issues with redenomination. Shabbs himself said they would watch inflation closely before revisiting the exchange rate. Who knows. Hope its right off the bat. Bout ready to get off this coaster. If its a slow climb after redenomination then that would suck.

Edited April 28, 2011 by dinarck

[nepperson]

I think your viewing it wrong.

Say your going to buy something that is 100,000 IQD... It takes you 4 notes of 25,000 IQD to make that purchase

Okay, so they lop/rd and everything is affected appropriately. The same 100,000 IQD item is not 100 IQD. It'll basically have two prices

100,000 IQD for Pre-LOP IQD

100 IQD for Post-LOP IQD

You would need 4 25,000 IQD notes to buy at pre-lop value

You would need 4 25 IQD notes to buy at post-lop value

Value you pay would be dependent upon which IQD you have. The newly re-denominated value or the old?

Maybe you carry 2-25 new-IQDs & 2-25,000 old-IQDs. You could still buy that item.

But here is the problem, it would cause some confusion... You still carry 4 bills to make that purchase. Now you have to use two seperate sets of denoms.

Not to mention from what I have read some still prefer the use of the dollar for it's value & stability.

Now, we have basically 3 currencies within a country. The dollar holds the highest value.

An old IQD set of denoms everyone is used to seeing

A new set of IQD denoms that are new to everyone.

No way that would be an easy transition. Some would be left confused, some would have the sense of their wealth removed, and some may say heck with it all. I'm just going to use the dollar.

I don't see what goal they reach here in a short-term manner as they don't fix dollarization, citizens still carry same amount of bills (Maybe even more), the mathematical standpoint may cause even more confusion.

Pros? A higher exchange rate representing a stronger value to the public eye outside the country.

Maybe simpler transactions within the banking industry... Not many calculators go into trillions ::

But all at a cost to the CBI & no change in purchasing power.

HMMMmmmmm...

We sit & wait & see how this all turns out.

Thats more than an little confusion if you ask me. the way I see it this is just your "Speculation" as to what will happen correct? or do you have some documentation statements ect.. that proves this to be what they are absolutly going to do? there are a million different ways this can go down, and not many of the ones I've been hearing make sense to me. I stick to my statement that this would cause more unrest than anything for the citizens of Iraq, wether the purchase price of the goods to be purchased is increased or the value of the notes currently in circulation are devalued ( Because that is what it would be, A DEVALUATION of those notes that we currently hold) if a 25k note will buy the same thing that a NEW 25 note does, then you are devaluing the 25k notes or inflating the price of goods along with the value of the new IQD notes. I may be wrong, but it seems that people are reading WAY TOO much into this intire process,,,, Maybe they are going through all of these same arguments and thats what's holding it up or not.

[Candinar]

Here is what you forgot this picture is way bigger then Iraq and Iraq really is like a puppet in this which the world powers with all the funds spent over the years to help Iraq will never allow a LOP unless major corruption is involved! Now Turkey and Germany did they have the same scenario as Iraq in terms of the war, oil, the help from other countries such as all our country spent to help and fix debt forgiveness! Unless all the other countries involved are 100% corrupt with some strange agenda you will not see a LOP! Remember everyone this picture is way bigger then Iraq since the RV will fix budgets, financial issues here, and fix many major issues worldwide which is why Iraq is the puppet and the master behind it is the world governments pulling the strings! I bet all my dinar on it that our country alone (USA) will not allow a LOP due to our issues alone! This plan is bigger then any of the RVs in history and to believe this will LOP in such a historic event to me is insane due to everything riding on this!

Well said my Awaken friend...good to see someone speak about the reality around us. The picture is too big for some, but they will get it soon.

[KramerDinar]

The whole LOP confuses about 90% of people on here, how do you think the banks, citizens and business owners are going to feel. I say if they want the 25,000 notes out of circulation you RV to pull them in, then after you get the majority of them in you LOP. Honestly, if it was stated that you have 30 days to exchange you 3 zero notes before the LOP goes in effect how many people would hang onto them? I know all my would be gone in the first couple of days.

[Sal0525]

Ok, so according to some, there is nothing to worry about. The plan is, according to the article and what is mentioned by others is:

1 Dinar will = .085 US

10 Dinar will = $8.50

100 Dinar will = $85.00

1000 Dinar will = $850.00

10000 Dinar will = $8500.00

1000000 Dinar will = $85,000.00

10,000,000 Dinar will = $8,500,000.00

So, that means if we currently hold 1 million, our 1 million will change to 1,000 KD. Am I right?

So that means that we are not going to get what we truly desire... Our million IQD will continue to be worth the same after RV with a short gain if it goes up to 3 dollars or more...

[Keep the Faith]

Well I see this as a very positive article. It is clearly stating that 1 dinar will hold the same value that 1000 dinar currently has which is .85

RV at .85..... : and I will take that all the way to the bank if I am right!

This could be just my interpretation but that means that 1 new dinar will be equal to 1000 old dinar which will both be equal to .85.

So that is still technically not a "RV at .85" it is a re-denomination

It means that both 1 new Iraqi dinar currency will be equal to 1,000 old Iraqi dinar currency.

So if you have 25,000 old IQD you will have 21.25 USD

If you have 25 new IQD you will have 21.25 USD

I'm just pointing out what is really being said in the article. I believe in the RV whole heartedly I just don't want people misinterpreting an article

[Sal0525]

Well, look at this way....if 1 dinar will be worth .85 then 1 million dinar will be worth .85 x 1,000,000=$850,000

you are looking at it as the 1 million be worth the same as it is right now. That is not how I am seeing it. If you take 3 zeros from the 1,000,000 it becomes 1,000. The 1,000 would be worth what the 1 million is currently ($850.00) get it?

I am not saying I am right and I have any secret intel. All I am doing is reading through all the rest of the re-hashed BS in this article and concentrating on that one statement. It makes sense top me!

We shall see. I think we all want the same thing so let's hope for the best!

You are missing the point, your 1000 becomes 1 dinar, we agree about that... That is what is in the article.

If you have a million dinar currently, it won't be considered 1 million upon exchange,This changes as well..., right? It would be 1,000 as you mentioned before...What is 1000 x a potential exchange rate of 3?

I am just wondering how you got the 850,000?????

This could be just my interpretation but that means that 1 new dinar will be equal to 1000 old dinar which will both be equal to .85.

So that is still technically not a "RV at .85" it is a re-denomination

It means that both 1 new Iraqi dinar currency will be equal to 1,000 old Iraqi dinar currency.

So if you have 25,000 old IQD you will have 21.25 USD

If you have 25 new IQD you will have 21.25 USD

I'm just pointing out what is really being said in the article. I believe in the RV whole heartedly I just don't want people misinterpreting an article

So, if there is an RV at 5 dollars per dinar...

25 of the new dinar x 5 would equal 125.00...

The old dinar 25,000 x 5 is 125,000

Do you see where the problem is in understanding how positive this is? The amount of dinar multiplied is where the issue is, not the worth of each dinar... Someone please correct me if I am wrong...