Delete the three zeroes from the Iraqi currency

[dinarck]

You have ALLWAYS been a naysayer & a lopster. I bet you have a sad life as negative as you are. I would suggest drinking to escape your negative life! go RV!

Sorry but I am gonna have to stick up for Keepem here. Just because he lives in reality unlike you doesnt mean he is negative. I think it is you who is negative with your sly little remarks that mean nothing. Why dont you bring something to the table instead of name calling and stupidity. I guess thats all you got because you know he is right and you cant hang in a debate with him. Typical.

[mrsonnyr]

WHAT IF EVERYONE LIGHTENS UP???

Joan, who was a rather well-proportioned secretary, spent almost all of her vacation sunbathing on the roof of her hotel. She wore a bathing suit the first day, but on the second, she decided that no one could see her way up there, and she slipped out of it for an overall tan.

She’d hardly begun when she heard someone running up the stairs. She was lying on her stomach, so she just pulled a towel over her rear. “Excuse me, miss,” said the flustered assistant manager of the hotel, out of breath from running up the stairs. “The Hilton doesn’t mind your sunbathing on the roof, but we would very much appreciate your wearing a bathing suit as you did yesterday.”

“What difference does it make?” Joan asked rather calmly. “No one can see me up here, and besides, I’m covered with a towel.”

“Not exactly,” said the embarrassed man. “You’re lying on the dining room skylight.”

GoooooooooooooooooRV!!!

[jeepguy]

o kay folks this is good news -------i see 3.33 not 3.22---i see those guys are at least too the point of where to start the rate---and they do not like the bunny butt idea at all---there is a news meeting tomorrow all media to be there lets hold on too our hats and let this be the news we want it too be { by the way you telling me there is nooooo unicorns }

[aferriss]

WHAT IF EVERYONE LIGHTENS UP???

Joan, who was a rather well-proportioned secretary, spent almost all of her vacation sunbathing on the roof of her hotel. She wore a bathing suit the first day, but on the second, she decided that no one could see her way up there, and she slipped out of it for an overall tan.

She’d hardly begun when she heard someone running up the stairs. She was lying on her stomach, so she just pulled a towel over her rear. “Excuse me, miss,” said the flustered assistant manager of the hotel, out of breath from running up the stairs. “The Hilton doesn’t mind your sunbathing on the roof, but we would very much appreciate your wearing a bathing suit as you did yesterday.”

“What difference does it make?” Joan asked rather calmly. “No one can see me up here, and besides, I’m covered with a towel.”

“Not exactly,” said the embarrassed man. “You’re lying on the dining room skylight.”

GoooooooooooooooooRV!!!

:lol: :lol: HOW EMBARRASSING!!

[keepmwlknfny]

Sorry but I am gonna have to stick up for Keepem here. Just because he lives in reality unlike you doesnt mean he is negative. I think it is you who is negative with your sly little remarks that mean nothing. Why dont you bring something to the table instead of name calling and stupidity. I guess thats all you got because you know he is right and you cant hang in a debate with him. Typical.

Thank you! Well put....I was going to respond to him but you pretty much covered it!! Only thing to add is that I havent ALWAYS been so grounded.....He apparently wasent around all of last year when I was here posting nothing but the positive side of this investment and even then, still bringing so much to the table.....well the majority of all the positive has been covered so is it so wrong of me to take a step back and look at the other side of things as well??? I dont fully believe that the LOP is the only choice so how does that make me a lopster? I want a straight up RV just like everyone else so how does that make me a lopster??? And Im sure we wont hear back from him on this thread cause your right dinarck, he has nothing to bring to the table, nor could he have an intelligent debate with either of us because we know what we are talking about in this topic.......Its pretty cut and dry what they are saying....now whether they follow through or not is a whole different story....just stating the obvious....

[gbosh]

You know, I wonder if the Iraqi public is incredulous at how many of these articles are coming out talking about the raising/lifting/removing the zeros from their currency. Do you think this topic is argued about as much in the coffee shops throughout Iraq as it is in the realm of the dinar investor/speculator/gambler forums?

Time to remember that although we spend a great deal of time and energy trying to translate and understand these articles, they are written (largely) by and for Iraqis.

I wonder if the Iraqi financial journalists know they have such a cult following on the different boards, and that their words are butchered daily by hapless web auto-tranlators. Have many of these articles actually been professionally translated by a true bi-lingual person with no angle on the topic?

Just some late night (Iraq time) thoughts. I'll catch up in the morning.

Go RV!

gbosh

[DEAMAN]

Couple of thoughts that go along with the LOP that will bring you down to earth...

1) If you were the clowns in the GOI, and you knew that you would be wildly rich to do all the necesarry things to RV, do you think there would be ANY bickering on getting this done? Wouldn't it have been finished long ago?

2) Honestly now, what sounds more plausible: 10% of America become rich overnight, or 10% of America lost out on what they thought was a sure thing.

All is not lost, there is an investment here, but people are shooting too high. It's not a contest who is right or wrong. We all win or lose together. I am an investor, I have money at stake like everyone else here, so my goals are the same. If I am wrong how sweet it will be; however, if the people chasing rainbows are wrong, it is going to be a very tragic thing indeed for them to deal with, like hitting a brick wall.

[Buckeye Pilot]

Thank you! Well put....I was going to respond to him but you pretty much covered it!! Only thing to add is that I havent ALWAYS been so grounded.....He apparently wasent around all of last year when I was here posting nothing but the positive side of this investment and even then, still bringing so much to the table.....well the majority of all the positive has been covered so is it so wrong of me to take a step back and look at the other side of things as well??? I dont fully believe that the LOP is the only choice so how does that make me a lopster? I want a straight up RV just like everyone else so how does that make me a lopster??? And Im sure we wont hear back from him on this thread cause your right dinarck, he has nothing to bring to the table, nor could he have an intelligent debate with either of us because we know what we are talking about in this topic.......Its pretty cut and dry what they are saying....now whether they follow through or not is a whole different story....just stating the obvious....

Get the Dictionary out keep.

Look up the word "Obvious" You cant use that word because its an OPINION of yours.

Try this:

Its "Obvious" you have Tunnel Vision and cant see the forest for the tree,s Sir.

[umbertino]

I believe they will do it, and with no lop....

The first couple lines of the third paragraph stated that they feel lifting the zeros would cause too many problems...I be lieve you are misunderstanding what they are saying..I could be wrong, but sounds great to me!

If I am reading this correctly, means straight rv...no lop...back to 3.22! Anyone? Anyone?

IF ONLY.

[keepmwlknfny]

Get the Dictionary out keep.

Look up the word "Obvious" You cant use that word because its an OPINION of yours.

Try this:

Its "Obvious" you have Tunnel Vision and cant see the forest for the tree,s Sir.

Ummmm deletion of the zeros is just an opinion of mine?? Where have you been? Apparently not long enough to have read all the articles over the years.....because if you have, it would be OBVIOUS that what Im saying is not an opinion, but what they are actually talking about.....not deleting the zeros from the exchange rate....never has that been mentioned at all......so its pretty OBVIOUS, you have no clue what your speaking about......

thank you,

come again!!

[AggieRV]

I don't normally post on these boards but as a recent investor who has been keeping up with all of this at this site I wanted to add this article from another site which seems to be translated from an actual person instead of google, etc. I know some are confused by what the article says as was I. I omitted the article at the end as everyone has seen it already obviously and to save space.

* Enorrste Analysis of Three Zeroes Article 5/8/11

May 8, 2011 04:17 pm · Posted in CHATS & POSTS (Iraqi Dinar Info) · Comments Off

Retranslation of the latest “Removing the Three Zeros” Article

5/8/11 at 06:04:30 PM »

Al sent me the article below for my “retranslation” and comments. The actual article is at the bottom of this post. Next is my “retranslation” of the article and then I will add a few personal comments.

RETRANSLATION

From time to time the Central Bank has raised the idea of “removing the three zeros” and it has completed a draft law which will regulate the process of “removing the three zeros” from the Iraqi currency. The law has been sent to the Cabinet Council and then to the Parliamentary House to decide whether there is a need to “remove the three zeros” from the currency. At this time the Parliament is in the final decision making process in this regard. [because the House has the bill it is completed and has been through the Cabinet already.]

This project of “removing the three zeros” has been organized by the Central Bank of Iraq in order to advance the external and internal economic situation in the country and to lead to the advancement of the local currency in circulation in the country. The Ministry of Finance announced that the inflation which Iraq had suffered from in the past is no long a concern. The “removal of the three zeros” will free the Iraqi economy for future growth and will enhance the value of the Iraqi Dinar in the World Bank Fund.

The ministry is aware that the “removing of the three zeros” may add some other multidimensional problems that could make the economy of Iraq deteriorate due to confusion and clutter in the market by buyers and sellers which may haunt the citizens as they deal with the psychological stress that may come from familiarizing themselves with and accepting the new currency.

On the other hand the process is now necessary since the introduction of the small denominated notes would be worth pennies if the value of the Iraqi Dinar was not at the same time raised.

And in contrast to this the Iraqi Central Bank stated that the process of “removing the three zeros” from the local currency is a complex process which has required extensive economic study; also the Central Bank advisor said that we have to deal with this issue with caution because it may cause premature economic problems that we need to avoid.

He added that the CBI felt they were being conservative when they avoided these problems by putting the project in front of the Iraqi public in advance and by inviting competent persons in the economics field to become familiar with the process prior to its full introduction to the Cabinet and Parliament. [This has already been completed since the draft law is now in the hands of Parliament.]

This project of “removing the three zeros” promises to raise the value of the Iraqi Dinar to $3.33 through a total package of bold decisions, including: first, we have reviewed the import process to ensure that we would not drain our excess foreign currency held by the CBI to support the higher value of the IQD; second, we will be reducing our auctions to allow Iraqi businessmen to cover the expenses of their goods; third we will be reviewing the affect on the reduction of public spending and services [as we have withdrawn the large denominated notes] in relation to the cost of importing expensive furniture [which will be less expensive after the RV], for instance, making it available at the local markets in Iraq, while still encouraging and supporting local industry and jobs for the unemployed; and fourth we will make sure to support and develop agriculture through the assisting of farmers with seeds and agricultural machinery in order to increase the production of agricultural crops.

There are other things that the new Iraqi currency will support as well. We will be able to reduce our operations staff which has been beefed up temporarily for the purpose of training and development on the project.

MY COMMENTS

It is important to see that while the article appears to be looking into the future because of the poor translation, in fact it is representing a situation that is now complete. We know this because of the statement made in the first paragraph that the draft law is now in the hands of Parliament. Therefore all of the things that needed to be done in this article are “retrospective” in nature, meaning that they HAVE been done, and that the process is now complete.

The only thing remaining is the passage of the draft law by Parliament and then the actual changing of the value of the dinar will occur. The remainder of the article includes statements about “proactive” things that the CBI will continue to monitor to ensure that the RV does not disrupt the economy of Iraq. In particular, note that they realize that imports of expensive items, such as furniture, will become quite a lot cheaper after the RV and that the CBI will ensure that this does not have a negative impact on local industry. Similarly, they have a plan to ensure that agriculture grows dramatically through the acquisition of equipment which, prior to the RV, was prohibitively expensive.

The bottom line is this: this is the final announcement from the CBI that the 6 year plan, which I have outlined in detail, is now complete, and that the RV is the next step.

As stated at the beginning of the article this will “free the Iraqi economy” and increase the value of the dinar around the world.

Steve

(Tried to add a link but it won't let me)

Edited May 9, 2011 by AggieRV

[coldwarvet]

The whole point of the original article that started this rather heated discussion was that there was STILL some dissension within the CBI about whether the "raising of the three zeroes" was a good idea. There will be two key events to follow closely in the next few days or weeks:

1. What exactly is the legislation that is filed with the Parliament;

2. How the Parliament reacts to that legislation.

To quote that famous philosopher, Yogi Berra: "It ain't over til it's over."

We've got a ways to go here, and the outcome is still in doubt. GO RV!

[truthful1]

The article could be propaganda/ smoke and mirrors whatever, but this is saying lop is on the table. Wake up people!

All the guru's say its impossible. But here's people from the CBI saying it again, again, again, and again. Nobody knows what will happen til it does happen.

People sure need to learn to recogonize some things for what they are. Here's to hoping for that rv.

[Rome M]

There is simply no tellin with these people, but I HOPE many smart rich people are invested enough in Iraq to get more out of it than a LOP with a X3 return.

I know if it were my country, I WOULD NOT LOP and RV X3, simply because that does not give me my money I lost back, the money taken from the value of my millions of dinar the moment the UN sanctions hit.

If Iraq had 54 Bill US the day before the sanctions, today they only have 46 MIL US left (speaking only of the currency that was affected), add a LOP to that (makes no change), then X3 the value......

They are still 53 BILL US short of the rightfully supported value before the sanction.

I dont know what it is going to be, but I am sure Iraq has something in it for them... getting their billions back.... and that spells some kind of profit for us....

Disclaimer: I cannot find where it said how much Iraq had before the sanctions, so I just used a big number as a reference. The exact amount is irrelevant, just tryin to get my O out there.

[nevermore]

I see that it is going both ways. Most read it as a good thing but the same 3 folks as always have to put in the neg. thing they know nothing else. And as stated keep would argue that the George Washington’s white horse is not white. So take how you will I look at it a plus. I just want this ride over been in it for 5 1/2 yrs. now. Make it stop.

Nevermore says THE RAVEN

[zul]

......Lifting or raising the zeros is a lop.....

I thought LOP in itself is a term. How come there's no mentioned of LOP in any of CBI or GOI articles/news. Why must they say removing three zeroes when all the mean is a LOP?

[skepticaldinar]

If Ali got word of a straight RV at $3.22, it would make sense that he would close down. We know he has sold billions of IQD and that he is very rich from it. However, he will not be able to cash in his customers at this rate. Perhaps the pieces of the puzzle are coming into place.

Then again, he didn't close his UK site or his site based out of Tennessee.

[skepticaldinar]

You have ALLWAYS been a naysayer & a lopster. I bet you have a sad life as negative as you are. I would suggest drinking to escape your negative life! go RV!

Please don't comment on someone if you do not have a clue what you are talking about. It wasn't that long ago that Keep was explaining how they could afford an RV.He had to deal with the locked in "naysayers" and eventually educated himself on all of the intangibles and came to reality. You should look into doing the same...true it isn't as fun as living in a fantasy world and doing exactly as you're told to do by the gurus and pumpers.But then again, you will be able cut those strings loose and finally be able to think for yourself and not just take things that make no sense at all to be facts.

[skepticaldinar]

I see that it is going both ways. Most read it as a good thing but the same 3 folks as always have to put in the neg. thing they know nothing else. And as stated keep would argue that the George Washington’s white horse is not white. So take how you will I look at it a plus. I just want this ride over been in it for 5 1/2 yrs. now. Make it stop.

Nevermore says THE RAVEN

I'm not sure how it could be taken as a good thing.Why would they even need to vote if this simply meant to reel in the trip notes?That makes no sense.Now if by a good thing,you mean that it looks like they are debating the pros and cons and that it isn't written in stone that they will RD,then I agree with you.

[PhillyDinar]

They are discussing the pros and the cons....thats why one side says it would be a problem, they think its too much to accomplish right now with everything going on and that it would just add confusion having the larger bills and smaller bills coexist because the 25k would have the same purchasing power as a new 25 note......there is no way the rate will jump to 3.22 overnight and especially with the amount in circulation.....

Lifting or raising the zeros is a lop.....research Turkey and when they lifted/raised/deleted/removed the zeros.....its the same thing.....they redenominate making 1000 old dinar equal to the purchasing power of 1 new dinar.....stop listening to the fairy tale, twisted version of these articles and read up on what they really mean....I refused to believe it for so long until I verified my own information and stopped listening to whatever just sounded good.....again, hopefully this is not passed when it goes to parliment!! This is NOT what we want.....

when they talk of raising the 3 zeros i believe they are talking about removing the tripple zero notes from cirulation, to be replaced with the lower denom notes, 500, 250, 100, 50, 25, 10, 5, 1, not talking about decreasing the value of the currency itself, that would just make no sense, why would they lower the value of a tripple zero note just to turn around and raise the value of all the dinar currency... that would make it confusing for sure! and make no sense what so ever!!!

[skepticaldinar]

I thought LOP in itself is a term. How come there's no mentioned of LOP in any of CBI or GOI articles/news. Why must they say removing three zeroes when all the mean is a LOP?

Is the term "LOP" in the Arabic language?I know that it is a very small language,so LOP not being a word or term in their language would explain. I don't know for a fact,but I would doubt that it is part of the language.

when they talk of raising the 3 zeros i believe they are talking about removing the tripple zero notes from cirulation, to be replaced with the lower denom notes, 500, 250, 100, 50, 25, 10, 5, 1, not talking about decreasing the value of the currency itself, that would just make no sense, why would they lower the value of a tripple zero note just to turn around and raise the value of all the dinar currency... that would make it confusing for sure! and make no sense what so ever!!!

How would that be decreasing the value?

[zul]

Is the term "LOP" in the Arabic language?I know that it is a very small language,so LOP not being a word or term in their language would explain. I don't know for a fact,but I would doubt that it is part of the language.

How would that be decreasing the value?

Is the term LOP arabic..? Good point but i dont think so. It is a financial term used around the word. And Shab. being an IMF person himself, is well aware what LOP means.....but he too never used LOP to explain 'removing / lifting / deleting three zeroes ( unless LOP is not what he has in mind..?)

[eatmoney]

Is the term LOP arabic..? Good point but i dont think so. It is a financial term used around the word. And Shab. being an IMF person himself, is well aware what LOP means.....but he too never used LOP to explain 'removing / lifting / deleting three zeroes ( unless LOP is not what he has in mind..?)

L O P MEANS (LOSS OF PROFIT) not the case for iraq there willn't be a l o p

[zul]

L O P MEANS (LOSS OF PROFIT) not the case for iraq there willn't be a l o p

TQ Eatmoney.

[imgesing]

Is the term "LOP" in the Arabic language?I know that it is a very small language,so LOP not being a word or term in their language would explain. I don't know for a fact,but I would doubt that it is part of the language.

How would that be decreasing the value?

HEY SKEPTICAL... Nice to meet you. I know some people here with half empty mentality. Too bad they think they are being rational or smarter than those who actually have knowledge. I am humble enough to know my limitations and I enjoy learning from those who actually post knowledge based information. This forum actually is a way to see how people will take anything and twist it or use it to fit their idea of how something will be or should be. Sometimes they miss out on some pertinent information.

A LOP is used to denote a redenomination and that is a mis-use of the term. Of course you knew this too, right? OK, so I am stating the obvious to you. Sorry, but some here say LOP and they appear to be ignorant.

LOSS OF PROFIT! That is a LOP. HYPER INFLATION within an economy would use a loss of profit. IRAQ is clearly a model which is currently using a dollar amount which is underinflated. So it is reverse of where a LOP is used. AGAIN, please forgive me for saying this to you, as I am sure you have read and understand this. I am stating this for those who dont know better and have not read or taken any type of knowledge based education on the subject. As for ARABIC and any translation, it would appear that this is an interesting problem in decifering the news and words coming out of IRAQ. We will see how this goes. My main point to most is that since the USA put into play the NEW currency used in IRAQ and owns it. One can easily see that there is a vested interest in what happens in IRAQ. Anyone here who says they dont care about the USA should realize that this isnt true. They not only care but need the USA in order to bring about the system they wish to put in play there.

They want to be part of a global market and this is why you see 25 members of our treasury dept and all those who help them to become organized enough to carry this plan out. I believe many think this is a narrow situation and I would say no. This is really the platform of progress for the whole M.E. They are the center of many changes in that region. This is a big deal. Expect great things and be patient. You may soon be happily surprised.

Have a great week. Peace my fellow investor.