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Central Bank Denying Change in Exchange Rate


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Thank You sonny1, How can they pay off there debt and L O P the three zero's without an increase? M0 is 28.5 T IQD. Lose the three zeros gives them 28.5B M0. Supposedly Iraq has Their 2011 budget is 90 B. Their debt to Kuwait is 21 B. How can they L O P and pay off thier debt? They cannot L O P, and be realeased from their sanctions. We will not see a huge rate, but they cannot L O P. :D

Sure they can. They wipe their a$$es with their left hand and eat with thier right hand. yep they could lop Just sayimg

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Thank you Sonny1, some are deep in depression about this. I would laugh but they are serious and I feel for those going nuts right now. It is what it is and having listened to many opinions and not burying my head in the sand or putting all of my opinions in one basket, it makes it easier for me to be happy to wait it out.

At this point no expectations, just waiting for The result.

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Let me share something with you all, Turkey had multiple currencies and high inflation Iraq has neither. Second, they would have to call a semi truck load all there dinar just to go get milk. I've seen more obvious outcomes in my life but I can't remember when. Use your heads people. All were waiting for is the rate.,

Thank you sonny. I've never seen an institution spend so much effort telling everyone what they are NOT going to do. Blah, blah.

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

They can't.:lol:

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Let me share something with you all, Turkey had multiple currencies and high inflation Iraq has neither. Second, they would have to call a semi truck load all there dinar just to go get milk. I've seen more obvious outcomes in my life but I can't remember when. Use your heads people. All were waiting for is the rate.,

funny that they have quoted Turkey as an example many times....I'm sure you know that the best time to re-denominate is when inflation as been controlled....just like Iraq..I'm not saying they are going to re-denominate...and I hope they don't....but to say it isn't possible is irresponsible.

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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.

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a re-denomination doesn't get much clear than that...take a look at what Turkey did and you will get a pretty clear idea of the path this is headed down...they also clearly state that it has not affect on the value of the exchange...sorry it isn't better news....but if you look at it as a glass half full...there is an upside....it should be in a much better position to grow in value...which it hasn't done in years....we can make some money off of this....we just aren't going to all go out and retire.

I agree, good points. I also am thinking that once their currency is tradeable and up on the Forex that the market WILL drive it up. I also think that its not a bad idea for some to open up a forex account in anticipation of this. It can't hurt and you would indirectly yet directly be prticipating in the increase of your investment. This is just my theory and if anyone has anything to comment or add please feel free to do so.

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THE EXCHANGE RATE WILL NOT CHANGE BECAUSE YOU WILL STILL BE ABLE TO EXCHANGE THE NEW LOWER DENOM AND THE EXSITING 000 NOTES FOR THE SAME AMOUNT OF USD THAT YOU CAN NOW. This is the first post of mine in all caps and hopefully the last. Some of us do get it and it isn't that difficult. Redenominations do not change the exchange rate for the excact reason I loudly posted above.

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Peeps, since they day they are born they are taught to lie! This is smoke and I strongly believe we will see a positive outcome on this RV and Soon. I think Sonny1 is spot on with his perdition!

Sooo, why are you here then? Really if anyone thinks there is not going to be any increase in your investment why are you even here...

Just asking! :)

Go RV!

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Let me share something with you all, Turkey had multiple currencies and high inflation Iraq has neither. Second, they would have to call a semi truck load all there dinar just to go get milk. I've seen more obvious outcomes in my life but I can't remember when. Use your heads people. All were waiting for is the rate.,

thanks sonny you are the man baby.

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Not that I care what Saleh says as he probably won't tell you what is actually going to happen. It sounds like he himself doesn't know what they are going to do. Must be the translation.

I think he means to say the value of the note won't change. That they intend to lop like Turkey for example. The exchange rate will change the same amount of decimal places to the left as the zero's removed.

I watch what they do not what they say. We will see.

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funny that they have quoted Turkey as an example many times....I'm sure you know that the best time to re-denominate is when inflation as been controlled....just like Iraq..I'm not saying they are going to re-denominate...and I hope they don't....but to say it isn't possible is irresponsible.

What????????? :o

I agree that RD is possible worst case scenario, but it seems

you're trying to ride both sides of the fence here??? :huh:

Edited by sportfisher
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Let me share something with you all, Turkey had multiple currencies and high inflation Iraq has neither. Second, they would have to call a semi truck load all there dinar just to go get milk. I've seen more obvious outcomes in my life but I can't remember when. Use your heads people. All were waiting for is the rate.,

great to hear from a respected voice,thanks Sonny1

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it is tomorrow in Iraq

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:

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What????????? :o

I agree that RD is possible worst case scenario, but it seems

you're trying to ride both sides of the fence here??? :huh:

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?

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a re-denomination doesn't get much clear than that...take a look at what Turkey did and you will get a pretty clear idea of the path this is headed down...they also clearly state that it has not affect on the value of the exchange...sorry it isn't better news....but if you look at it as a glass half full...there is an upside....it should be in a much better position to grow in value...which it hasn't done in years....we can make some money off of this....we just aren't going to all go out and retire.

Come on Man......

Are you and keepmlost related? My God man you cant see how clear this is? They WILL NOT LOP for 7,972,509th time.

I just dont get why you cant let it go already . wow!

PLEASE...........tongue.gif

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The "International Monetary Fund calls Iraq a number of economic measures including the privatization of banks and raise the zeros three of the local currency and to meet debt and compensation is the responsibility of Iraq, if Iraq's desire to receive support the International Fund.

This is all that matters ladies and gents. IMF states and countries act. They won't be able to compensate for debt unless they increase the value of their money. GO RV B)

I

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.

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Say I was a million heir living in Iraq and all I had was cash 25k notes but the they Rd then I would be a thousand heir is what your trying to tell me will happen I'm trying to figure out what will happen to our notes if this happens not one lopper had said this yet answer me this please!!!!!!!!!!!

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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.

That statement says the IMF is telling Iraq it is time to redenominate. Removing three zeros is not a good thing.

Say I was a million heir living in Iraq and all I had was cash 25k notes but the they Rd then I would be a thousand heir is what your trying to tell me will happen I'm trying to figure out what will happen to our notes if this happens not one lopper had said this yet answer me this please!!!!!!!!!!!

If you were a millionare in Iraq you would actually be a billionare or if you were a millionare in Iraq you would be a thousandare. Hahah. In other words if you have a million dinar in Iraq you only have a 1000 USD in dinar. After the RD that Iraqi will have a 1000 dinar worth 1000 USD. To be a true millionare in Iraq you would need a billion dinar and after RD he would have a million dinar worth a million USD.

Edited by dinarck
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So what happens to our 25k notes? They will be worth 25$ ? But that's what I'm not understanding they paid out 25k notes for contracts so now there just gonna tell these people woops sorry I know we paid you 5,000,000 in 25k notes bit that's only worth 5,000$ now? Just not getting what there gonna do here.

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That statement says the IMF is telling Iraq it is time to redenominate. Removing three zeros is not a good thing.

If you were a millionare in Iraq you would actually be a billionare or if you were a millionare in Iraq you would be a thousandare. Hahah. In other words if you have a million dinar in Iraq you only have a 1000 USD in dinar. After the RD that Iraqi will have a 1000 dinar worth 1000 USD. To be a true millionare in Iraq you would need a billion dinar and after RD he would have a million dinar worth a million USD.

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! :)

Edited by michelneedsRV
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