I'm a little bummed about the Redenomination news.

[Spock]

25,000 Dinar would be = 25 Dinar

RV at 1.00 would be roughly break even

RV at 2.00 would be roughly a 100% gain

RV at 3.00 would be roughly a 200% gain

Not the millions I was hoping for.

It

[mikey]

you need to reread that

1. It from a news station in England

2.the word lop is not there

3.thay are phasing out the larger bills like they did here in the USA you will never see a 500. or a 1000. again

4. Its like watching CNN its more one sided than fox news

5.theres more but its all JMO

[KWA73]

You cannot believe everything you read in the media, CNN says Obama is a good president, I don't believe that one bit.

[Rickybobby]

the article says cutting off zero's.......how should we read that?

[War Eagle]

Read my lips: No lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop-------------------------------------------------- do you get it??????????????????????????????????

[Mongo]

the article says cutting off zero's.......how should we read that?

If they did it would be three zero's off the.rate not the bills

[jwb]

thanks for being bold enough to post it, the reponses have been very reassuring :-)

[rvwisher]

Do you think the US ,China, England, etc would really let them lop - We have giving up to much for this

[Spock]

If they did it would be three zero's off the.rate not the bills

It is the bills!

http://www.rferl.org/content/Iraq_Planning_Currency_Redenomination/1950504.html

[Mongo]

Read my lips.................Smokescreen

[ATTACH=CONFIG]346[/ATTACH]

[Spock]

That would be awesome if it was only a smokescreen! I do hope so!

[jackdavis1364]

Read my lips: No lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!no lop-------------------------------------------------- do you get it??????????????????????????????????

I want to get in on your post. I was going to do the same thing. Save me some typing.

[miamistud62]

ugg no lop./.... duh

[kjurb]

if it were to lop it would make most Iraqis even poorer than they are now.just imagine if you had 25,000 usd and goverment said take off three zeroes where does that leave you,with alot less money.there is no way this can happen imo.

[tamekaw]

Makes sense kjurb

[BR549]

In the note from Adam, it says something about revaluing OUR dinars. Anyone?

[Spock]

if it were to lop it would make most Iraqis even poorer than they are now.just imagine if you had 25,000 usd and goverment said take off three zeroes where does that leave you,with alot less money.there is no way this can happen imo.

LOP with a reval makes it feasible. IMO

[Dave321]

I agree, it sounds like a lop with a reval.

[wil]

In the note from Adam, it says something about revaluing OUR dinars. Anyone?

+

BR549

The iraqi gov't would like to take the large denomination bills out of circulation.......they would like for us to turn in a 25k note and in return they will give us enough 10 dinar notes,or 100 dinar notes to equal the 25k note we gave them.......Thats all Adam was talkin about..............that is all ANYONE on this thread is talkin about.....A LOP is FOOLISH thinking...................the Iraqi gov't just wants to do away with the 3 zero currencies.....THAT IS ALLLLLLLLL................NOT LOP WHAT WE"RE HOLDING

[BR549]

Wil,

Thanks! ... That's understood, just wondering about the implications of the use of the word "OUR" as in whether it's only going to happen here in the US, which doesn't necessarily make sense, but asking for input.

[Dancer]

Here is what I see in the article - "phasing out denoms" - "old denoms gradually removed" - "exchange to go smoothly because ... old and new banknotes to coexist." I read this as the RV is very close, cash in for everyone to bring in all of the higher denoms and then like the US reduce the usable currency to 1s, 5s, 10s, 20s, 50s and 100s. I never read "lop" but yes, I do believe they will re-do currency to be more workable in the future. JMO

[Spock]

Redenomination - (LOP) - is it the same thing?

In this case, I believe it is

[MJaz]

I put together some other peoples posts with my thoughts also.

http://www.rferl.org/content/Iraq_Planning_Currency_Redenomination/1950504.html

"This article is more about introducing lower denominations IMO. The word "lop" is not used at all. Nor, are words that indicate the need for a lop, i.e., "inflation" or "hyperinflation" used in this article. Because the bank is allowing higher and lower notes into circulation, it seems to be more about RVing the money and giving people a longer time to exchange higher notes. Also, because the goal is to reduce the amount of currency that will need to be carried and money that is in circulation, I think there will be a massive price reduction based upon a RV. Once goods are cheaper to purchase, prices go down, higher notes (10K, 25K) become unnecessary. Just my opinion."

"Salih said by the end of 2010 the new banknotes will be fully introduced while the old banknotes will be gradually removed from circulation. He did not specify when the new notes would be issued."

"Both will be legal tender in Iraq until the old notes are completely withdrawn."

Again it say's "Both will be legal tender in Iraq until the old notes are completely withdrawn" this means IMO no LOP off of zero's of the current currency, NO LOP!

"Economic analyst Hilal al-Tahhan told RFI that the bank's move is overdue. He said he expects the currency change to go smoothly because of the decision to allow both the old and new banknotes to coexist, leading to less turbulence in the economy."

IMO this is not a LOP this is a RV of the Dinar and Iraq moving to smaller notes.

"It's like the USA did some time back...you used to be able to get $1000 notes but not anymore. They "phased them out" as people turned them in. Now a $1000 USD is still "legal" currency"

"The current exchange rate is 1,167 Iraqi dinars to the U.S. dollar."

Why would they state the current rate in the article? I think we are close to a RV. Dam I am getting excited!!!!

They say the RV has been built into the Iraq 2010 budget and it is be pegged to the EUO at $1.49. That sounds good to me!!

[joeintt]

imo...once the RV happens then there will be no need for such large bills (25k, etc) to continue to remain in circulation since every thing will simply cost less dinars to buy. That is why the smaller bills & coins will be more used. In, time the 25k bills will be taken out of circulation as fast as they come in to the "system".

[john holmes]

all the article about eliminating the 3 000's is that all the currencies with 3 zero's with 25k 10k 5k will be taken out of circulation but will NOT lose its value....all there just tryin to do is introduce the lower denominations, make it easier for smaller transactions ....so people they are not removing any 000 from the currency ,just removing the currency period for smaller currency denominations ...