Trade Bank of Iraq: raise zeros from the currency

[LettheRVbegin]

Ok I just had this translated and it is a straight LOP

Sorry guys

Hey russian, let me ask you something. Are you in anyway affiliated with Shabibi or Mailiki? I'm sure you're not, so it's kind of funny how you bring your bullcr*p opinion on this forum and keep telling us that there is going to be a LOP. The only difference between you and us here on this forum is that you are in iraqi along with your iraqi buddies that are probably just normal civilians in iraq that have no connections with any important people. So how about you cut your bullshit and just leave this forum and rot in iraq and never come back to usa or russia or wherever the heck you came from.

You're just an immature boy that needs an attention because you probably didn't get any when you were a little boy. Does getting some attention on this forum make you feel good? Just cause you're in iraq, you feel like you are above us and feel superior? how sad... get a life you bum. Maybe some vodka down your throat will clear your russian brain up a little.

GO RV BABY!!

[dinarck]

What this means is they will no longer m

Be making the 25000, the 10000, or 5000 notes. Once they receive all of these notes they will not be reused. Kind of the same way we did with all of our big bank notes. So your 25000, 10000, 5000 will still be worth the same value as they are now. No need to panic on this one. If you want to verify go to dinarinc.com that is where I heard it from. He is the top seller in dinars in the world. Ty and Ali buy from this guy so I would believe him. Thanks

I think your right. Our 25,000 notes will still be worth the same value as they are now. About 25 USD.

[ammo2001]

Ok I just had this translated and it is a straight LOP

Sorry guys

No explanation included?...Im sure this is not gonna end well for you on here LOL

I dont usually put my 2 cents in when it comes to the LOP/RV/RD since im not financially savvy (I blow things up and move cargo to keep the troops safe). I read as much as I can and try to pay attention and take copious mental notes but that statement is just asking for trouble without explaining it to the masses.

here comes the pain lol

Ammo out

[.netnodoubt]

Never fails, it always brings out panic and lop talk, those who have been around a long time, do you remember the article with Shabibi himself stating he wanted the currency to be worth what it was back in the 70s and 80s? Or the most recent ones saying they want to increase their strenght?? On the subject of new currency, it has been stated as well by their officials, it will run parellal with the old, until the old notes are phased out.......

[jmw]

I am a little confused on why they spent money printing notes that were in multiples of 1000's. Does that strike anyone as odd? If they wanted a high value of their dinar then why add all the zeros to it in the first place. They had a perfect opportunity to replace the saddam notes with the lower denomination notes in the first place. Can someone help me understand why they took the not needed step of the currency that we hold.

They were trying to stabilize the economy which had suffered massive hyper inflation...if they would have re-denominated at that time and removed the 000's they risked it sky rocketing back up to where it was...so, they exchanged it on a one to one basis and then began controlling the value and inflation...Countries that have re-denominated have been much more successful if they do it after the economy stabilizes and inflation is controlled....basically where Iraq is now.

[keepmwlknfny]

So KEEPM would this be a bad thig for us as investors? How would it work if not. Can you give me an example as I am small minded when it comes to these types of numbers and math. Thanks.Also if this happens what would the effect be on our money in the ISX? would it also be LOP'ed? Thanks man keep the info comming!

Well to give you the short answer, yes, everything is affected....whether your money is physical or digital......its not necessarily a bad thing though because you wont really lose anything except maybe the fees you paid to buy your dinar.....but it also depends on what the new exchange rate is set at once removing the zeros.....lets just say for example they lop and set the new rate at 1 to 1 with the USD......your 25k note is now worth 25 new dinar which is worth 25USD.....so you might just break even.....but who is to say they couldnt lop and go higher then 1 to 1?? I would say at best if this happens (which I pray it doesnt and the parliment doesnt pass this bill) that we might be able to hold out on our bills long enough to see the dinar appreciate and MAYBE double or triple our original investment.......

[tommyboy]

http://www.inciraq.com/pages/view_page.php?id=53581

I'd say that anyone, including russianhuey or keep that read this article and would bet their life on the fact that it said the dinar is going to undergo a lop may not live too much longer. The translations leave a lot of interpertation as to the actual intent.

"The decision to raise zeros from the Iraqi currency maker, but he needs to work convicts on the level of banks and international accounts in addition to the withdrawal of old currency. "

To me, the withdrawal of the currency means just that; removing the bills with 3 zeros from the currency (meaning the supply), not removing the zeros from the notes. Currency can mean a single note or the entire supply, just like the US dollar doesn't refer to just a one dollar bill, does it ?

NO LOP !!

[jmw]

http://www.inciraq.com/pages/view_page.php?id=53581

I'd say that anyone, including russianhuey or keep that read this article and would bet their life on the fact that it said the dinar is going to undergo a lop may not live too much longer. The translations leave a lot of interpertation as to the actual intent.

"The decision to raise zeros from the Iraqi currency maker, but he needs to work convicts on the level of banks and international accounts in addition to the withdrawal of old currency. "

To me, the withdrawal of the currency means just that; removing the bills with 3 zeros from the currency (meaning the supply), not removing the zeros from the notes. Currency can mean a single note or the entire supply, just like the US dollar doesn't refer to just a one dollar bill, does it ?

NO LOP !!

To me...the "withdrawal of old currency" is pretty clear....they will be replacing the old currency with a new one...and removing 000's in that process...think about the amount of currency in large notes they would need to remove from circulation to have an impact on the exchange rate...they would need to take out trillions...up to 20 plus trillions...which would not leave them enough in circulation to function...the shortages of money in the market place would be staggering.

[keepmwlknfny]

http://www.inciraq.c...ge.php?id=53581

I'd say that anyone, including russianhuey or keep that read this article and would bet their life on the fact that it said the dinar is going to undergo a lop may not live too much longer. The translations leave a lot of interpertation as to the actual intent.

"The decision to raise zeros from the Iraqi currency maker, but he needs to work convicts on the level of banks and international accounts in addition to the withdrawal of old currency. "

To me, the withdrawal of the currency means just that; removing the bills with 3 zeros from the currency (meaning the supply), not removing the zeros from the notes. Currency can mean a single note or the entire supply, just like the US dollar doesn't refer to just a one dollar bill, does it ?

NO LOP !!

While yes this article does use the notion of the withdrawal of old currency, thats exactly what does happen in a RD......they remove the entire series of notes and replace them with new ones with a new value.....but if you collectively put together all the removing the zeros articles you can put the pieces together and realize that they are speaking about a RD.....you cant just take one removal of zeros articles and base a decision on this plan from one little statement......standing alone you cant undoubtably say that "withdrawal of old currency" is the ONLY thing they mean by removing the zeros.....If they were doing a straight up RV, there would be no need for a withdrawal of the entire series of notes which is what that states.....

[jmw]

Hey Keep...your up too early...go back to bed before you sprain something!

[Candinar]

http://www.inciraq.com/pages/view_page.php?id=53581

I'd say that anyone, including russianhuey or keep that read this article and would bet their life on the fact that it said the dinar is going to undergo a lop may not live too much longer. The translations leave a lot of interpertation as to the actual intent.

"The decision to raise zeros from the Iraqi currency maker, but he needs to work convicts on the level of banks and international accounts in addition to the withdrawal of old currency. "

To me, the withdrawal of the currency means just that; removing the bills with 3 zeros from the currency (meaning the supply), not removing the zeros from the notes. Currency can mean a single note or the entire supply, just like the US dollar doesn't refer to just a one dollar bill, does it ?

NO LOP !!

Well said, not sure why people can't get it. Maybe they believe they have more intelligence than Scooter. I'll bet all my Dinar they don't. They just keep saying the same thing with no backup.

[YourIntelSux]

Ok I just had this translated and it is a straight LOP

Sorry guys

Alright RussianHuey,

Lets see if you will put your money wher your mouths is. Let's both send a third party from DV $1 mil dinar until this whole thing shakes out. If Iraq lop's first, you keep the money, if they RV, I win and keep the money. This should be a no brainer bet for you since you are sooooo sure.

What do you think BabyHuey? BRING IT...... DONT SING IT!!

[Candinar]

Well seeing that my 17million plus dinar is here with me in IRAQ and not in the states this is a silly bet

oh and I bought mine back in 2004 the most I ever paid was $540 per million so you see I have allready made money on this

Sucks to be you dont it

look if you think that Google translator will give you an acurate translation in both word and spirit of this article

guess again

its going to LOP according to this article so next question will it then rv after that

I dont know

will the big bills be worthless after the lop? I dont care you see i will just trade out for small bills here at no expence what so ever

becouse you see I AM HERE IN IRAQ and you are not

Love in Christ

Here's hoping he stays there.

If he had so much why won't he send in 1M for the little wager? Yeah....OK.

Edited June 2, 2011 by Candinar

[Stradergrl]

Honestly, is all of this LOP argument anything more than speculation EITHER way, of a loose translation of the Arabic language???

IMHO, you can bet your bottom dinar that Iraq is going to do what is best for THEM!

Does it really make any sense for them to give their money a value of 86 cents when they can just as easily make it worth so much more? I think not.

They know they are sitting on a golden opportunity to rise up in global economics, WHY would they NOT take advantage of that?

All of this speculation and opinion tossing going on when in fact, NOBODY knows for sure now do they?

Go with what makes sense for Iraq and you'll be closer to the truth.

Rate predictions from 10 cents to 8+ dollars, all with supporting argument.

Most of us bought dinar for less than a freakin' penny, it's a profitable situation no matter what, be happy you're in!

SO WHAT if it's 86 cents, it'll still make millionaires out of most of us right!

Where else can the average american get that kind of return???

Very true and well put. But.... if it LOP's like all the lopster's are saying we won't get any return....possibly a loss. Hope not.

[2fast4u2c]

Gang, none of us knows what the date or rate is. It's great to look at articles and try to translate but don't get too high or too low. This is still a long ride.

[Stradergrl]

no return you say

well at the price you guys are paying thru the pumpers in the states I have allready doubled my investment

and as far as sending a mil to Candinar that seems to fall in line with his dinar philosophy (money for nuthin)

buhwaaaa buhwaaaa

Oh iforgot the pumper sign off

Love in Christ

I wasn't refering to you, I was refering to all of the members on here who are not a-holes.

[Nothing-Ventured]

Boy, this is such a tough subject!

I have been leaning towards the logic of a lop, but every time a new opinion, or information comes out, then I swing back to believing in no-lop..!

I spoke to a friend yesterday, and she said that when she purchased her dinar, she was told that there would be no lop, and all of the new currency had already been printed. So when I read “The decision to raise zeros from the Iraqi currency maker..” Means to me that they simply stopped making the larger denominations.

And, if I might ask....have they been taking out the larger denom’s as people have said? Somewhere I read that this process was at about 70% complete.

[jmw]

We don't know if it will or if it won't....what we know is that they are discussing it...and if they do it there is a specific way they will go about it...the same way all of the others have been done.

Those are the facts and anything else is purely conjecture...but in the end...we just don't know what they will do.

[MrFnHappy]

the article said they will remove the zeros from the currency, it said nothing about the exchange rate, and i thought they didn't qualify for a lop because of all the oil

they have

Many countries have re-denominated in the past, and in every case, there has been an equal adjustment to the rate. Here's one example.

December 31, 2004

Turkey will lop six zeros from its currency at midnight

Louis Meixler Associated Press

ANKARA, Turkey – At midnight tonight, Turkey will cease to be the land of the millionaires and billionaires.

That is when the government drops six zeros from the national currency and Turkey loses the dubious distinction of being the country with the largest denomination in circulation, the 20,000,000 lira, worth only about $15.

The zeros are the result of decades of double-digit inflation that has taken the currency from 2.8 to the dollar throughout the 1950s to 1,350,000 per dollar today.

Introducing a new currency has been a Turkish goal for years, but the government only moved forward this year, the first time in three decades in which inflation fell into single digits.

For many Turks, the new money will end the confusion of dealing in a currency in which the smallest coin in general circulation is the 50,000 and a loaf of bread can cost you 350,000 lira while a small container of orange juice costs 1,900,000 lira.

As the new year begins, that loaf will cost 0.35 new Turkish lira (or 35 kurus – 1 lira will equal 100 kurus in new currency), and that orange juice will be 1.90 new Turkish lira.

Bottom line is the value of the M1 in USD will remain the same. If you have 1 million dinar worth $850 prior to a re-denomination, then after you would have 1 thousand dinar STILL worth $850.

Hope this helps.

[Artitech]

rusian huey why did you buy 17 million + dinar if its toilet paper according to you? your as stupid as everybody else, if you paid $548.00 +for a roll of toilet paper especially if you are really over there in Iraq. Stupid is as stupid does. thanks for your service if you are in the military, but I doubt it though, with your sorry atitude.

[Candinar]

I wasn't refering to you, I was refering to all of the members on here who are not a-holes.

POST OF THE DAY....great comeback.

Why did he claim I said to send me a Mill? I was referring to the wager offered in the previous post. I'll type slower for him next time.

[Stradergrl]

POST OF THE DAY....great comeback.

Why did he claim I said to send me a Mill? I was referring to the wager offered in the previous post. I'll type slower for him next time.

Thanks Candinar! I just try to call them as I see them. lol

Who knows why that half-wit claims what he does? Ya, lol, maybe he will understand next time if you type a little slower, eh?

[Candinar]

December 31, 2004

Turkey will lop six zeros from its currency at midnight

Louis Meixler Associated Press

ANKARA, Turkey – At midnight tonight, Turkey will cease to be the land of the millionaires and billionaires.

That is when the government drops six zeros from the national currency and Turkey loses the dubious distinction of being the country with the largest denomination in circulation, the 20,000,000 lira, worth only about $15.

The zeros are the result of decades of double-digit inflation that has taken the currency from 2.8 to the dollar throughout the 1950s to 1,350,000 per dollar today.

Introducing a new currency has been a Turkish goal for years, but the government only moved forward this year, the first time in three decades in which inflation fell into single digits.

For many Turks, the new money will end the confusion of dealing in a currency in which the smallest coin in general circulation is the 50,000 and a loaf of bread can cost you 350,000 lira while a small container of orange juice costs 1,900,000 lira.

As the new year begins, that loaf will cost 0.35 new Turkish lira (or 35 kurus – 1 lira will equal 100 kurus in new currency), and that orange juice will be 1.90 new Turkish lira.

============================================================================================

"That is when the government drops six zeros from the national currency and Turkey " so they Dropped 6 zeros and LOPPED...Iraq has said they are Raising 3 zeros. So?

Edited June 2, 2011 by Candinar

[tommyboy]

While yes this article does use the notion of the withdrawal of old currency, thats exactly what does happen in a RD......they remove the entire series of notes and replace them with new ones with a new value.....but if you collectively put together all the removing the zeros articles you can put the pieces together and realize that they are speaking about a RD.....you cant just take one removal of zeros articles and base a decision on this plan from one little statement......standing alone you cant undoubtably say that "withdrawal of old currency" is the ONLY thing they mean by removing the zeros.....If they were doing a straight up RV, there would be no need for a withdrawal of the entire series of notes which is what that states.....

Why couldn't the new notes be just that; new notes? They just withdraw the triple zeros as they come in after issuing the new, smaller denoms, which they are going to have to do anyway in order to facillitate trade. I have read nothing that absolutely says they are going to change currency by making a 25,000 dinar note worth just 25 dinar. And I still contend "raising or lifting" of the zeros means lifting them from circulation. This opinion has been reached by myself after reading many, many articles on the subject and not just this one clip.

I'll see if I can find some of the other news items and post them, but as I said, this has been going on for some time and searching through the archives when I'm unsure of the dates when I read them could take some time. Some were nearly a year ago. Uh-oh; I may have just talked myself out of that. I do know what I read though.

VOTE FOR RON PAUL. HE WANTS TO DO AWAY WITH THE FED AND IRS.

[MrFnHappy]

rusian huey why did you buy 17 million + dinar if its toilet paper according to you? your as stupid as everybody else, if you paid $548.00 +for a roll of toilet paper especially if you are really over there in Iraq. Stupid is as stupid does. thanks for your service if you are in the military, but I doubt it though, with your sorry atitude.

First of all, I'm not saying they will definitely lop, but it seems that is the way the wind is blowing right now.

Also, I am NOT defending huey.

17 million dinar is not really a lot. I personally have more than that, and I personally know quite a few folks who have substantially more than that.

It seems many here believe the dinar will become worthless post RD....it will NOT be worthless, and could quite possibly RV at the same time as it RD's. This is why those who think it COULD go that way are still holding dinar. Additionally, many of us bought long ago, for much less than today's price, leaving us in a slightly better position.

Not braggin', just sayin'.......