Anyone else find it suspicious....

[TexaSwa]

Anyone else find it suspicious that, no matter whether the article is true or not, none of the "talking heads" are willing to admit that its wording lends itself to a "lop"?

"NO, NO, This is a good thing... These are not the droids youre looking for... buy more dinar..."

Hopefully this is just "negative propaganda" but their unwillingness to accept the message, whether true or false, speaks volumes.

[krayblue]

Yesterday I posted a link (pdf file) that someone else put into chat regarding a "redenomination" that happened in Venezeula a few years ago that explained how it worked. Didn't sound good at all. It was very similiar to what we are reading here. I was just hoping for some feedback to help me feel better. Anyway, the thread was killed/closed with no response and the link mysteriously no longer works....???

I agree, looks a little suspicious.

Here's the thread that was closed. I wish someone could find that pdf again.

Redenomination example with link (Venezuela)

Someone posted this in chat earlier and I have to admit it shook me up. I've always been on the no lop side of this deal but I never thought of it happening the way that this example did. I'm certainly no expert so someone please help me shake this one off and get my glass back to half full

http://www.reconversionbcv.org.ve/pd...coColorIng.pdf

[mrref]

All I am saying that it is negative propaganda, I'm not going throught all the Intel stuff, so just trust me its all crap!!!!!!!!!

[dinarhound]

Since the lower denoms will be released and used along with the larger bills, they cannot have the same value. A 25000 note will not equal 25 note.

What I understand it to be... An RV will happen, people in Iraq, like here in the US will not be carrying around 25000 dollars in there wallets, so they will deposit there dinars and withdrawal smaller denoms to put in there wallets, like we do. They also have there debit cards. We in the US have no use for the lower denoms of dinars, other than to hold them, and they are not going to let us hold 1 mil dinar in lower denoms. We will have to deposit (cash in) and then if we still want to hold dinar we will have to purchase on the forex, or Warka, or maybe through Ali's bank (haven't heard if that was an option yet). If it does RV at euro rate, and it is expected to eventually go to RI rate, then purchase on the forex like you would any other currency as an investment. It will be safe there and you can sell at any time.

[mikey]

I need to buy all the wheel barrows I can get my hands on and ship them to Iraq. if they bring out the smaller dinar before the rv then they will need them to go buy bread

[dragonwings1975]

Am I missing something? When has anyone said to go out and buy more dinar? In reality everyone keeps saying not to go out and buy more just because of this info!!

[CaptainConrad]

I recall someone saying the only people who got rich during the gold rush, sold the picks and shovels. I have sat back and watched this since November and then read some dealers make 20k per week selling DINAR.The massive DINAR sales outlets and the fact that you can buy it among the greatest of rumors leads me to believe someone knows something we don't.I just can't imagine the little guy actually getting a chance to make some real money in this world.

I hope it works out but if it sounds too good to be true...well, you know the rest.I'm hoping for the best.

[Fi3ry_Ph03n1x]

Since the lower denoms will be released and used along with the larger bills, they cannot have the same value [Emphasis added]. A 25000 note will not equal 25 note.

DH: Why can't they have dissimilar values? It is a new note. If the news is true, they are cycling in a new set of notes and reclaiming all of the old ones. There is nothing that says that they have to be comparative in value just because they coexist. You can pay for your loaf of bread with a new $5 or an old $25,000. Clerk keeps your $25,000 note and gives $3.50 in new change. It's that simple.

Don't get me wrong, I'm as hopeful as anyone else for my IQD being revalued prior to redenomination. But there is nothing in that article that would prevent both bills from being circulated at the same time while having different intrinsic values.

FP

[Sunshinegirl]

not sure if this is what you are referring to

http://www.reconversionbcv.org.ve/files/html/21.html

[caddieman]

Since the lower denoms will be released and used along with the larger bills, they cannot have the same value. A 25000 note will not equal 25 note.

It will when they drop the 3 zeros. People got to understand they are dropping 3 zeros from the currency in cir right now. They are not dropping it from the new that will come out. So a 25000 with 3 zeros dropped will have the same buying power as a NEW 25 note...........it really is simple as that as the article says it is a Re-denomination of the currency.

[jpsrailz]

How would that make sence???????????? Spend all that time and money to make new currency to take the 00000000000 of, u need to go back to school, or u missed alot of classes

[krayblue]

Sunshine it was actually a pamphlet in pdf form and it was in English.

[BurntToast]

I posted this on another thread; For sake of argument lets say a loaf of bread in Irag costs 5000 IDQ, or $5 USD. No lets say there are the two IDQ circulating at the same time, a $5000 IDQ and a 5 IDQ. That loaf of bread would have to have two prices on it, 5000 IDQ and 5 IDQ. Once the 5000 note is out of circulation, the vender simply takes off loaf of bread the higher noted price, in effect lopping off three zeroes. A 5 IDQ is now 5 USD, a wash. The pricing (not the value) of the goods being purchased have to be changed also. This line of reasoning tells me that the 5 IDQ that is replacing the 5000 IDQ is the RV.

All other arguments I have read take huge assumptions. Other countries in the past have simply issued new lower denominations to replace the old ones. I would love to be wrong. The only way to really know is to go to the source of that article and ask if a 25000 IDQ have the same value as the new 25 IDQ. The question in my mind is the exchange rate. I would guess that it would remain until the old currency is out of circulation. Then after a deadline, a new rate is established. Old currency is gone, and 1 IDQ=1 USD (for sake of argument). Even if the old and new are being exchanged at the same time, I am guessing, but Irag could simply issue protocol that tells banks that a 25000 IDQ exchanges for a new 25 IDQ. Then after the established time period, you cant go trade in any 25k IDQ that you may still have because they are officially out of circulation. The question I ask myself is, why would Irag officials issue a policy such at a RV that would require them to pay out billions or trillions of USDs and other currencies to match their old currency in circulation? Simple redenomination avoids that. If you where an Iraqi, what would you do?

[Muhammad]

Yesterday I posted a link (pdf file) that someone else put into chat regarding a "redenomination" that happened in Venezeula a few years ago that explained how it worked. Didn't sound good at all. It was very similiar to what we are reading here. I was just hoping for some feedback to help me feel better. Anyway, the thread was killed/closed with no response and the link mysteriously no longer works....???

I agree, looks a little suspicious.

Here's the thread that was closed. I wish someone could find that pdf again.

Redenomination example with link (Venezuela)

Someone posted this in chat earlier and I have to admit it shook me up. I've always been on the no lop side of this deal but I never thought of it happening the way that this example did. I'm certainly no expert so someone please help me shake this one off and get my glass back to half full

http://www.reconversionbcv.org.ve/pd...coColorIng.pdf

krayblue, why not change your nickname to kraybrown or whatever because blue really makes you feel blue for unjustifiable reasons all the time, perhaps? Come on, be more optimistic and do your research with patience. Nike says: Just do it! And don't retreat now like a born-loser. I have friends who invested quite a lot and they still remain cool till today. You need to be patient and gain more confidence this time!

[SPTicker]

I was born in France in 1955. Why is this relevant? A few years later, France had a similar event with their currency. In the early 60s, France had bills with two extra zeros. They made a similar statement that the money would be changed and two zeros eliminated. Overnight, 100 francs were worth 1 franc in the new currency. It took a few weeks to get all the old bills out of circulation and eventually, the new money was all that was left until the euro replaced it. So my take of the dinar is that a similar procedure will occur. The people will be able to exchange their old notes with new ones, the new ones having three zeros less than the old. Could this be followed by an acceptance into the IMF? Probably so as the new dinar would then be close to the dollar in value. However, as a consequence, our dream of quick riches would be shattered. If that was to happen, the new dinar stands a good chance of eventually climbing in value but not at the expected 1000 to 1 all of us were hoping for. I can see the new dinar being worth 2 or 3 USD at some point which would make us whole with a potential 200% + return. This would most likely take time after the acceptance of the currency into the IMF.

[armondtoth]

I posted that in the chat yesterday and it did not state a lop please learn how to read. You obviously did not read past the first paragraph.

[SPTicker]

I think this is very simple, the new dinar and the old dinar will be accepted as currency as the old dinar is getting phased out of circulation by the banks. A loaf of bread will cost 1 new dinar or 1000 old dinars. The two currencies will be used concurrently for the time it takes the banks to phase out the old. That also paves the way for the new dinar to be internationally tradable. We will all find out very soon after the new dinar is put into circulation how much our old dinars are really worth. I suspect 20% less than our cost.

[Heff]

What I don't understand is: Why you can't get small notes now. If you do find them there expensive or on back order. I tried to get smaller notes in country and found it to be very difficult, one local asked me where I got the notes, and how I would get them out. He wanted to trade for Saddam notes. Does anyone have a large amount of smaller notes? Locals did not want to give up large abount of the smaller notes.

[dizzylamb]

Saturday we bought some more Dinars and asked for smaller notes other than 25,000 and was told 25,000 was all they had whereas a few days earlier from the same place we were able to get 10,000 notes. This is here in the UK.

[skers05]

I am really trying to think about this investment with my head and not my heart. When I look at reality I dont really see any way an rv could happen on the level that has been proposed. If an rv happened overnight making most iraqis instant millioniares what would be the insentive to work a $15 an hour job or do anything for that matter. If they work the large notes out over a year what are they gonna do hand you $24,998 in change after you buy a loaf of bread just doesnt sound right. If it looks like a duck (lop) and sounds like a duck (lop) its probably a duck (lop).

[pt497]

It will when they drop the 3 zeros. People got to understand they are dropping 3 zeros from the currency in cir right now. They are not dropping it from the new that will come out. So a 25000 with 3 zeros dropped will have the same buying power as a NEW 25 note...........it really is simple as that as the article says it is a Re-denomination of the currency.

Your explanation is a "re-numbering" of the existing currency. Redenomination simply looks at new denominations of currency to replace existing. At least that is what accurate terminology suggests. The term "redenomination" is not definitive one way or the other.

[bigd1619]

I am sooooo tired of this conversation. If I offend you I am sorry. For those of you who think this is a LOP, you need to do research and use common sense. A LOP IS USED DURING INFLATION, PERIOD. Iraq has one of the lowest inflation rates in the world.

FOR YOU MIKE1422= READ the article again. IN 1990 the value of the dinar in circulation was 25 billion dinar, and today it is 25 trillion, it says NOTHING about changing the value of the currency. I really wish people would LEARN TO READ. Next, if it was a lop, how could both denominations coexist, and be "legal tender" according to the article? If it were a lop everyone would have to go the banks IMMEDIATELY to exchange their dinar for the lower denoms, but here it clearyl states that the larger notes will be phased out by the years end.

Next, read the Phoenix post on DD, he says the USA did a "lop" before too, they got rid of 10000, 5000, 1000, 500 dollar bills, yet it DID NOT DECREASE in value.

Finally, go to http://translate.google.com/translate?hl=en&u=http://www.darabeen.com/index.asp%3Ffname%3D/2010/02/02-05/2010-2-5-22-54-42.htm%26dismode%3Dx%26ts%3D05/02/2010%252010:58:21%2520%25E3&prev=/language_tools&rurl=translate.google.com&twu=1 in it the advisor to the Finance Minister says and I quote "the timing of the launch of this strategy is not appropriate, noting that the country's economy must be in a position of STRENGTH before the application of such changes." For all of you who are too dumb to understand what this statement is, it says that they cannot and will not begin the process of "removing the three zeros" until the IQD has an RV. And then they will begin to exchange the large notes for smaller notes in country, and for all of us investors we will get paid. If you still think it is too good to be true. Go to ebay, sell your dinar and get out of here because I am tired of answering questions for all of the idiots out there. There are good questions out there, but this lop stuff is just ridiculous. I didnt even get into the idea of all of the debt that has been forgiven and how that would come in to play in a lop. Lets just say countries would be ****** OFF.

[RMLP]

Bad link......

[steven]

JMO, i think they meant to say they are dropping the 3-0 notes not the 3-0 zeros off the notes.

[bigd1619]

Bad link......

i clicked on it and it worked for me......its also on DD website if you cant get the link to work.

Skers05, by the GOI essentially outlawing the use of any other currency in country they are forced to use and spend the dinar that they have been saving for an RV. I don't know how much dinar the average citizen holds, so I cant comment on whether or not they will all become "rich." I also don't know what types of taxes there would be imposed on them once it RVs...it is an interesting comment. But even if many became millionaires over night, I doubt that even 15% could keep it. Just like here, so many of the idiots on these boards will squander their wealth in the first year or two.