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Central Bank Denying Change in Exchange Rate


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NEWS JUST IN: "looks to me like this is an ongoing battle between those who are optimistic and those who are pessimistic negative lopsters that has been going on for sometime now...its all over DV! who. will. be. right..."

sigh. I agree some of the "lopsters" can be earth shatteringly negative sometimes with some of their comments, but hell, I for one encourage it. I need both sides of the coin for this investment. Not just the Rumor happy guru fed people with no education on the subject chiming in with their "smoke and mirrors" comments. If you look at what happens daily in the forums its very one sided. and goes like this.

1.) "lopster" simply posts article about redomination.,

2.) he recieves 3000 negative reputation points for posting a legitimate article, and gets flamed for doing so.

3.) other "lopsters" defend him for actually researching his investment. They get negatives too.

4.) After enough negatives have been dished out, the imminent RV brigade descends beneath the sand in the rumor section.

5.) Repeat steps 1-5 daily till the world ends or Iraq actually accomplishes something.

I want this RV to happen. I know both sides of the coin very well, and I BELIEVE that both scenarios COULD possibly happen. I'm ok with a RD and an RV. I'm ok with it because I'm invested enough to be a "serious" investor, Yet I didn't spend my life savings on a speculative chance that this revaluation could happen. The sooner some of you accept that they only time we will know for sure what will happen is when it happens, The better. Honestly Love all you people but rampant delusions and flaming eachother gets us nowhere. Just because someone posts something YOU don't agree with/like/can't accept, doesn't mean you have to be a **** about it. Just my 2 cents.

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Remember China took out a front page ad that said " China is not going to revalue there currency!" the day before they revauled there currency. ;)

With all this BS coming out of lops and negativity, I cling to the one thing that makes sense, Iraq has a worthless currency and massive resources. They have to revalue period!

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Irrespective of what they say (iraq), do you see any logic in whatever you're posting?

I don't see a logic in your post at all. So, they want the world to accept a 25K dinar to 25 dinar in a day without the exchange rate changing. I mean, the IMF also has a say in the exchange rates. if they're gonna change the 25K to 25 dinar without have any sort of hyper inflation, abundancy of oil, gas, agriculture...... How can one expect them to LOP.

How will other countries accept this thing?

Now, I've a thing and proof as to what can happen, remember china? They did the same thing saying, Oh No NO NO, we will neva revalue our currency, not in this life or till I'm alive ruling the country, but what happened, next day they kept it on float and their currency started improving. So, this is just a strategy of the country to demoralize the people who hold dinars and make them sell it cos it's not in their hands to sn@tch it. They've been taking the notes in as much as possible, why? Because they want this to be a minimum affair. You need to read a lot about iraq and it's wealth resources and after u do that, u will understand that if there is 1 point you have for LOP, I have 10 good reasons why it does'nt have to LOP and RV/keep it on float.

Michel! :)

I tire of trying to explain over and over that the 25,000 is only worth 25 USD. If you cannot see the logic there then I am sorry. When the 000 are removed it will still be worth 25 USD so there is no change in the exchange rate. That is all the exchange rate is. What one country can exchange their currency for another. You say that is illogical but believe Iraq is going to make millions of people worldwide multimilliomares overnight.

Edited by dinarck
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Now it may just be Google Translator, I don't know. But look at the verbiage the author uses in reference to the RD or lop or whatever name you want to ascribe to it this week that Turkey has previously had with their currency (bold in the text).

Central Bank denies the exchange rate affected by deleting the zeros.

Date: Mon 06/27/2011 4:43

Al-Shammari said the Agency news on Sunday: the restructuring of the currency will not affect the Industry and Trade of Iraq, but it is a good step from the central bank, which will add an achievement should the state have been implemented because they will ease a lot of effort to balance and commercial stores.

He Shammari: This topic is very important and was supposed to be implemented some time ago, indicating that we are not the only country that has raised the zeros, Turkey deleted six zeroes from the currency and has become a LL one.

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Falmadapaper.net%2Fnews.php%3Faction%3Dview%26id%3D43137

To my way of thinking, there is a huge difference between "raising" the zeroes and "deleting" the zeroes. Like I said, it could just be Google Translator. But it makes me stop and think.

Another poster pointed out that contracts that have previously been signed would be all messed up and I believe that that is a very true statement; except...do we know for a fact that those contracts were written in IQD and not USD?

Optomistic. But cautiously optomistic...

So I'll go to work today, pay attention to my wife and kids, tell them that I love them and lastly, after everything else is done, I'll wait for Adam's text.

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look if they just lop 3 zeros and they say the echange rate is not gonna change everyone including the state of iraq would be broke if a 25,ooo dinar note was only worth 25 dinar and noechange rate change it would take 44 , 25 dinar notes to make one dollar. they would be ripping themselves and there people off badly.

bad math it would takeabout 440 25 dinar notes to make a dollar. wow that would be moving the wrong way for cash flow.

Actually the math is the thing that will make the most sense of this. Math follows pure and simple rules like this one we learned in grade 3:

"To keep an equation true, whatever you do one 1 side of the equals sign you must also do on the other side of the equals sign"

like this

M = Q

If you want to keep the equation accurate, then if you add 2 to the M you must also add 2 to the Q like this

M + 2 = Q + 2

When it comes to Iraq it looks like this

1000Dinar = .859

(roughly 1000 dinars are equal to 86 cents USD right now)

If they erase the 3 zeros without affecting it's value as explained by the CBI articles they have to do whatever they're going to do to both sides of the equation. So if we're dividing my 1000 it looks like

1Dinar = .000859

Nothings changed, the rate is the same, the zero's are gone from the currency.

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Not sure I follow you...which two sides?....I think it is highly possible that they re-denominate...I think that every article that has come out lately clearly states that is what they are going to do...I think it is the only way for them to reduce their M2 money supply...I think that this is the best opportunity for the IQD to grow in value....I think they have used Turkey as an example of what they want to do many times...I'm pretty far over the fence...which is the other side?

so you're pretty far on the Redenomination side, but you said this,

I'm not saying they are going to re-denominate...and I hope they don't

so why are you in?, to risk an "in country" only exchange window redenomination for maybe 2 to 3 times return, less costs if you can exchange? Just wondering?

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How can they kill the zero's and not raise the rate, it defeats the purpose. They want to reduce people carrying cash how does keeping the exchange rate at 1170 but make the notes smaller they would need a moving company to carry dinar just to go to the market. Think about it its!getting old responding to the people who don't get it... no disrespect intended

People are just listening to their own voice. They don't know anything (me included), so they yap like a Yorkie, about nothing. They don't take the time to read, and especially to read a post from someone like you that does know what they are talking about.

The yapping will only stop when the RV happens, and then they can yap about the taxes the mean old government will impose, and just keep yapping down the road. I have noticed that the yapping typically comes form people that are very myopic, and everything is about Me, Me, and a little more about Me.

Sonny, thank you for your time to come here and try to tell people what reality is. Some of us are listening.

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Who knows... Perhaps they say the raising of the three zeros will not effect the exchange rate because it will be the physical removal of the 3 zero notes after a RV is applied and the lower denoms are released. Not saying this is the scenario but it is just as good as any. Honestley no one will know unil the fat lady sings. I have a feeling they are not lying to us but only giving snippits of truth to discourage speculation and money hoarding. In the end they can tell us that no lies were given but were just misunderstood.

Or something like that... :blink:

Edited by FrankenSLI
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I'm in Afghanistan scratching my head: Iraq is 1:30:00 behind Afghanistan. This article is a clear case of propaganda by GOI. It’s currently Monday morning 06:32:00, 27 June 2011 here. The article was dated wrong or was not to be released until this afternoon. I’m thinking the later, interesting. :huh:

I agree. Anybody knows you have to have propaganda printed days ahead before you can drop it out of a plane.

Not sure I follow you...which two sides?....I think it is highly possible that they re-denominate...I think that every article that has come out lately clearly states that is what they are going to do...I think it is the only way for them to reduce their M2 money supply...I think that this is the best opportunity for the IQD to grow in value....I think they have used Turkey as an example of what they want to do many times...I'm pretty far over the fence...which is the other side?

One side will keep the investors from climbing over Iraq like the locust that tried to crawl over Salt Lake City.

Finally someone gets it!!! The IMF is controlling this baby. They have already approved the rate and they know the date!!

Relax everyone, whatever is meant to happen will happen and we can't change a thing. You all may be very pleased with the outcome. Time will tell.

Anybody that thinks Iraq is controlling this, is obviously living in a cave. It is the Big Hand In The Sky. Iraq is like a gnat buzzing around their head - just something you have to deal with.

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Maybe articles such as this are meant to throw off investors but when it indicates the exchange rate won't be affected, it certainly causes me to wonder how much or how soon we can get the return we hope to be getting. By classifying the talk about "having no affect on the exchange rate" as just smoke and mirrors, I hope we are not living a version of the emperor's new clothes.

For the record, i know no one that knows anyhting and I know nothing; but am praying for the best.

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I tire of trying to explain over and over that the 25,000 is only worth 25 USD. If you cannot see the logic there then I am sorry. When the 000 are removed it will still be worth 25 USD so there is no change in the exchange rate. That is all the exchange rate is. What one country can exchange their currency for another. You say that is illogical but believe Iraq is going to make millions of people worldwide multimilliomares overnight.

Sir your logic is a bit flawed, with all due respect... You make a blanketed statement with out considering many factors which would be counter to IRAQ having value in an RD. An RD would hurt IRAQ given their current economic situation. In as much as I understand why you think it would be to their advantage and that those who invested are simply hanging on to hope when we consider the economic model in place it would actually hurt IRAQ to RD. They lose little in an even exchange after they RV. They do not need the actual capital to RV. I have heard over and over what everyone thinks is their current ability to honor an RV but the bigger truth is that IRAQ does not need to have the specific amount to cover an RV with funds. I suggest you read about what is needed to calculate an RV for any country. This would give you a new perspective on what IRAQ needs for this RV. As much as I would love to spend hours writing how an RV exchange is formed and all the details of it, the bigger truth is that an RD "can happen" but it very highly unlikely. They are in a situation where their currency now doesnt reflect their economic GNP and they have the resources and a growing economy which was held in a low rate due to chapter 7 etc. Other countries like TURKEY were in a much different situation. In fact it is this very matter which makes this opportunity so unique for all of us. I suggest you sit back and watch this unfold. Hopefully it will all happen sooner than later.

PEACE

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Sir your logic is a bit flawed, with all due respect... You make a blanketed statement with out considering many factors which would be counter to IRAQ having value in an RD. An RD would hurt IRAQ given their current economic situation. In as much as I understand why you think it would be to their advantage and that those who invested are simply hanging on to hope when we consider the economic model in place it would actually hurt IRAQ to RD. They lose little in an even exchange after they RV. They do not need the actual capital to RV. I have heard over and over what everyone thinks is their current ability to honor an RV but the bigger truth is that IRAQ does not need to have the specific amount to cover an RV with funds. I suggest you read about what is needed to calculate an RV for any country. This would give you a new perspective on what IRAQ needs for this RV. As much as I would love to spend hours writing how an RV exchange is formed and all the details of it, the bigger truth is that an RD "can happen" but it very highly unlikely. They are in a situation where their currency now doesnt reflect their economic GNP and they have the resources and a growing economy which was held in a low rate due to chapter 7 etc. Other countries like TURKEY were in a much different situation. In fact it is this very matter which makes this opportunity so unique for all of us. I suggest you sit back and watch this unfold. Hopefully it will all happen sooner than later.

PEACE

Also to back up this post.

When people, even the Iraqi press and other press, compare these RD statements to Turkey. Well there way out in left field.

Look at Turkey, look at there oil production, there exports. There not in the same class as Iraq.

60k barrels of oil a day compared to well over 2.5 million and growing quickly?

RV can happen, will it? I pray it will.

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Also to back up this post.

When people, even the Iraqi press and other press, compare these RD statements to Turkey. Well there way out in left field.

Look at Turkey, look at there oil production, there exports. There not in the same class as Iraq.

60k barrels of oil a day compared to well over 2.5 million and growing quickly?

RV can happen, will it? I pray it will.

Venezuela?

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Sir your logic is a bit flawed, with all due respect... You make a blanketed statement with out considering many factors which would be counter to IRAQ having value in an RD. An RD would hurt IRAQ given their current economic situation. In as much as I understand why you think it would be to their advantage and that those who invested are simply hanging on to hope when we consider the economic model in place it would actually hurt IRAQ to RD. They lose little in an even exchange after they RV. They do not need the actual capital to RV. I have heard over and over what everyone thinks is their current ability to honor an RV but the bigger truth is that IRAQ does not need to have the specific amount to cover an RV with funds. I suggest you read about what is needed to calculate an RV for any country. This would give you a new perspective on what IRAQ needs for this RV. As much as I would love to spend hours writing how an RV exchange is formed and all the details of it, the bigger truth is that an RD "can happen" but it very highly unlikely. They are in a situation where their currency now doesnt reflect their economic GNP and they have the resources and a growing economy which was held in a low rate due to chapter 7 etc. Other countries like TURKEY were in a much different situation. In fact it is this very matter which makes this opportunity so unique for all of us. I suggest you sit back and watch this unfold. Hopefully it will all happen sooner than later.

PEACE

OK, its my logic that is flawed? Yet you have yet to tell me how other than more forum facts stating it would be counter productive for them to LOP. I would have to disagree. I think it would be counter productive for them not to.

I think you know my logic is spot on and you dont want to deal with it. That is fine. It is a hard thing to deal with.

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I tire of trying to explain over and over that the 25,000 is only worth 25 USD. If you cannot see the logic there then I am sorry. When the 000 are removed it will still be worth 25 USD so there is no change in the exchange rate. That is all the exchange rate is. What one country can exchange their currency for another. You say that is illogical but believe Iraq is going to make millions of people worldwide multimilliomares overnight.

You are correct my friend. What you are explaining is correct and I believe to be true. Everyone else is blinded by false hopes and dreams. By doing what you have described would be exactly what Turkey did in 2005. No increase in value.

Let just be happy they have printed new money and can watch the value change over time like any normal money market.

Edited by Workinchump
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