I'm a little bummed about the Redenomination news.

[Spock]

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 ...

They're talking about removing 000's from the currency!

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

[TexaSwa]

Denial... Not just another river in Egypt.

[BR549]

You know, I'm happy something is happening! It's been a long time for some of us and an eternity for the rest where nothing's been moving. Nice to see something in writing by a source other than my friend's brother's aunt's dog said while he was barking out a loaf! Hopefully we will all see blessings in our very near future, even if it's not everything we wished for. It's still better than we could have asked for otherwise.

[warrengz]

Jeez people, how long we been at this! This is not a lop! No removing 0s from the CURRENT bills, they will issue NEW bills by end of year that will be equal to the CURRENT bills. Got it, okay. Now that being said, if you buy a coke over there NOW it's what, 1000 dinar. So later with new bills it will be 1 dinar. See, zero's gone. Now think this, if 1000 dinar equals to one dinar later then people need just one bill right. BUT WAIT the coke will still cost 1000 dinar, so how many bills will peeps have to have to buy it? BUT REMEMBER no NEW BILLS with 3 zeros anymore right? BUT AH HA, what if that 1 dinar was worth more than 1170? GET IT YET? IT WILL BE WORTH MORE! Hence RV! They want high demons back, the ones with 3 zeros, cuz the majority of country has smaller ones and it will give peepeeps the same buying power across the board as here in US. AND its so close that they will putting out articles to mislead as many people as possible. Read between the lines like investors not reading the actual lines like spectators. Be ready this is just another sign its figgin to go DOWN! whew

[caddieman]

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

Bingo my man

[Spock]

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

If "no lop", what does "redenomination" mean in this case?

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

[Tweezy]

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

Obviously you live under a rock, or else you watch cluster Fox news. Its the Way far right thats screwing everything up!

[zoomzoom]

If 25 dinars equals 25000 dinars then the new 25 dinar note would equal about $22.00. Is this not an rv? THats about $1.13 per dinar. Where am I wrong?

[zoomzoom]

Obviously you live under a rock, or else you watch cluster Fox news. Its the Way far right thats screwing everything up!

Just because the right ( conservative) believes in less government youu don'ty like them? Do you really like bureucrats telling you how to live your life, and politicians planning your future. Please, its people thinking like you that have distorted what the Founding Fathers gave us. Freedom to fail or succeed, according to our individual abilities. Of course you might be comfortable with distributing the wealth.

[Knuckles]

Sure hope your right

Thanks

[karen]

four words....pay attention............. while maintaining current value.............==no lop. they are removing large denom bills from use . if an iraqi had a 25000 dinar note the bank would exchange it for 250 one-hundred dinar notes. one dinar would probably buy you a coke!!!!!!! imo no loppppppppp.............

[tempster]

I have to tell you If its a good thing Im with you. If its a bad thing I dont know what to say

[Spock]

four words....pay attention............. while maintaining current value.............==no lop. they are removing large denom bills from use . if an iraqi had a 25000 dinar note the bank would exchange it for 250 one-hundred dinar notes. one dinar would probably buy you a coke!!!!!!! imo no loppppppppp.............

I believe that one 25,000 Dinar Bill will equal 25 Dinar at the redenomination (LOP). Yes it would maintain current value before the RV. However short that period may be!

I don't think "250 one-hundred dinar notes" would buy you a coke at one Dinar because that would be 25,000 cokes for a 25,000 Dinar trade in!

If you meant a "one-hundred dinar note" would buy you a coke.....that would be 250 cokes for a 25,000 Dinar trade in! I don't think that will happen either.

You could probably buy roughly 22 cokes before the RV.

IMO

Edited February 7, 2010 by Spock
Left something out

[Rickybobby]

Here is a thought.....I think I've seen this picture before. this really sounds like an old article when they went from sadam's money to what they/we have now. the article has no real source...no author and why would they show all the currency in the window...to show them the new currency (that they have now) This was a prank and a hoax...IMO

[kmack]

It should not effect the notes. I read it as they will not print anymore of the larger notes and they will only go forward with 1s, 5s, 10s, and 20s... but who really knows...

[investor7]

If 25 dinars equals 25000 dinars then the new 25 dinar note would equal about $22.00. Is this not an rv? THats about $1.13 per dinar. Where am I wrong?

zoomzoom you are not wrong. You are 100% correct. Spock is not going to get it because he wants to believe in the lop. Thanks for bringing some wisdom.

[keylime]

After re-reading this article many times, the term "dropping the zeros" is referring to introducing the new smaller denominations making it "easier to perform transactions at the bank" or in the marketplace,ie:places to shop. It is NOT stating they are "dropping the zeros" from the larger denominations. Those bills will still be viable at face value but will be taken out of circulation over the year as they come in. Obviously this infers that the smaller denominations will be worth more so that the people do not have to carry around "a fistful of dollars" or in this case "dinars". Which also must mean the 25K dinar will also be WORTH more. They are doing this to, as the article's opening statement reads,"ease transactions and allow people to carry around less paper money." Well they can't be carrying around that much paper money now because there are only large denominations out there,5k,10k,25k. That's like me saying "I am carrying around to much paper money. I have a thousand dollars in my pocket, and then I pull out a 1,000.00 dollar bill like we used to have." Obviously I am not carrying around that much paper money when I pull out one bill worth one thousand dollars. That is there current situation. So the statement is referring to "in the future" when the smaller denominations are in circulation, it will "ease transactions and people will be carrying around less paper money." Now how will they be able to carry around less paper money in the future when the smaller denominations are introduced unless.....they REVALUE the currency from where it is today. Thus, people with the higher denominations will not have to carry around "much paper money"(ie: like the thousand dollar bill), and the people with the lower denominations will not have to "carry around much paper money" because they will be worth substantially more. And they will do this transition by allowing BOTH the new bills and old bills to exist until they can get the older higher denominations out of circulation. SMOOTH transition, nobody loses,(including the US Gov't, and Chinese Gov't. who seem to have a lot more at stake in the IQD then all of the individual investors combined.) Easy Peezy Ja....you know the rest. If this article is even legit, that is how I read it. IMHO

[pokerplayer]

We have zero control over what Iraq does with its currency. We can say they can't do this. They can't do that, but in all reality they can do what ever they want. If they want to lop and re-print, then they will do just that.

I truly hope they don't as I would like this to pan out for us all, but no one can stop them from doing what ever it is that Iraq want's to do.

There are a number of member's here with some pretty big dreams. $3.00+ dreams. Nothing wrong with that. Just don't crash and burn if it doe's not materialize for you. I have a number of $0.39 cents in mind. Nothing to back it up with, just a number I chose a long time ago. If it come's out higher, bonus. Lower, well then it cant help but be close to what I hoped for. In any event even at a penny, I stand to make a huge return.

Just wanted to post a little food for thought, and by no means am I trying to crush anyone's hopes. Just my take is all.

Go RV... pokerplayer

[contractors]

Any monatary gain is a good one!!!

[slbarnes1]

Sooo should I trade my 25000 notes in and get smaller denominations? Or keep them? Cause that would be alot of notes to carry when I trade in....

[chickadee]

They are not going to remove three zeros off the dinar before you cash in. Say you cashed in 250,000 dinar you would get the revalued amount per dinar. If the dinar was revalued at a $1.00 you would get $250,000. This article says that as the large notes are turned in, they will not go back into circulation, thus by the end of the year there will not be any currency in circulation with 3 zeros. They will have all been secured or vaulted. Do not be stressed about this. No worries.

[pokerplayer]

Your golden. No sense jumping the gun till we know more. All you would be doing is spending your hard earned cash when there may be no reason to.

poker

[MJaz]

zoomzoom you are not wrong. You are 100% correct. Spock is not going to get it because he wants to believe in the lop. Thanks for bringing some wisdom.[/quote

How is he correct with his #'s 25 Dinar = $22 that is $.88 not $1.13 If it is $1.13 per Dinar then 25 Dinar would be worth $27.12 I hope this does not happen!! 250,000 dinar = 250 dinar my cost $270 + $15 shipping & wire transfer = $285 per 250 Dinar. I would need the Dinar to be worth $1.14 inorder to break even. THAT WOULD REALLY SUCK!

[wilecoyote]

IMO, it is counter-productive to try and explain to those not getting it (the meaning of the intentions.) Agreeing to disagree is the American way, left, right or in the middle makes no difference folks. LOL..Looks like we are all in the same boat what ever it does , just have to wait and see. At this point, there is little need to worry about it because I feel we are really close and everyone will see a gain. At the day of RV, it one has been realistic and logical, one will be happy with this journey.

[tzsbwn]

Don't you think there could be some disinformation going around trying to get people to sell their dinar now so they don't have to pay the rv rate? Just wondering