Here's what i have seen and heard

[easyrider]

Basically the redenomination will be you have a 25k note now when they issue lower denomsyour 25k notes becomes a 25 dinar note hint removing the three zeroes but the value of that note remains the same, everyone basically what they are gonna do is simply issue lower denoms to the people while removing the larger bills its a simple trade for the citzens but will have the same value as it did before. I think it makes sense what aboiut you?

Edited June 28, 2011 by easyrider

[harrysmug]

Thanks easy for your perspective.Harry

[andy3978]

Basically the redenomination will be you have a 25k note now when they issue lower denomsyour 25k notes becomes a 25 dinar note hint removing the three zeroes but the value of that note remains the same, everyone basically what they are gonna do is simply issue lower denoms to the people while removing the larger bills its a simple trade for the citzens but will have the same value as it did before. I think it makes sense what aboiut you?

Might make daily transactions easier, but it won't increase buying power. I don't see any benefit for the Iraqi people OR investors. They money will still be worth the same. If anything I could see a RD then a RV. NOW they Iraqi folks would have some purchase power.

Again though...is 'Raising the 3 zeros' defined as a LOP...or does it mean to remove the large notes from circulation by natural attenuation?

[getherdone]

So what about us here in the good ol' USA?

[easyrider]

So what about us here in the good ol' USA?

they will still be legal tender because the value is still the same but in Iraq they are simply issuing lower denoms to the citizens not us as investors like i have said they dont care about us we already hold the large notes when the RV we will be able to cash in our notes with the same value which they had before.

Edited June 28, 2011 by easyrider

[easyrider]

Might make daily transactions easier, but it won't increase buying power. I don't see any benefit for the Iraqi people OR investors. They money will still be worth the same. If anything I could see a RD then a RV. NOW they Iraqi folks would have some purchase power.

Again though...is 'Raising the 3 zeros' defined as a LOP...or does it mean to remove the large notes from circulation by natural attenuation?

yes hint deleting or rasing the zeroes i mean to me its the same they are lifting the zeroes from the currency which means taking a 25k note to a 25 dinar note but they have stated in some articles recently the exchange rate or value if you will WILL NOT be affected hmm wonder what that means well personally a 25k note simply becomes a 25 dinar note yet has the same value from which it did before they released the lower denoms.

Are you trying to start a fire storm with more LOP talk?

IMO that would be a net zero gain.

Would not improve the quality of living for the people of Iraq.

Only way a LOP will work, is if they also change the value.

It was told that the IQD would be the strongest currency in the region.

That would not happen with a straight LOP.

IMHO no LOP.

Revalue and remove the large bills from circulation.

I'm sure that they have lower denoms already printed and ready to go.

Just say'n

i guess you didnt read to what i was actually saying meaning there will Not be a LOp many of us think it will be. You should know by now im Anti LOP.

Edited June 28, 2011 by easyrider

[magawatt]

The price of imported goods would still be beyond the reach of the guy on the street- no gain there.

[StevieH]

Will be interesting to see what happens to the value when the dinar gets on the Forex!!!

[easyrider]

Will be interesting to see what happens to the value when the dinar gets on the Forex!!!

I agree the value of the dinar will go up no doubt about. All i was saying is simply regarding the notes what would hapen as an RV ad Rd occur IMHO.

[MGRMGRMBR]

Okay, I get what you are saying...where I have a hard time understanding is what about bank accounts? Pretend I am a businessm in Iraq and I put all my truck loads of dinar in an bank account. How are they going to LOP my money from said account? If someone can explain that to me, I'll drink the LOP Kool-Aid.............

[easyrider]

Okay, I get what you are saying...where I have a hard time understanding is what about bank accounts? Pretend I am a businessm in Iraq and I put all my truck loads of dinar in an bank account. How are they going to LOP my money from said account? If someone can explain that to me, I'll drink the LOP Kool-Aid.............

I'm not saying its gonna LOP like many believe it will im simply aaying lets say they have 100k dinar they have 25k notes those are large bills they will get 4 25 dinar notes or whatever the value may become after the RV but was just using that as an example.

[Don & Rocio]

I dig it Easy...+1. In country will be different than international.

[easyrider]

I dig it Easy...+1. In country will be different than international.

yes exactly my point, thanks.

[Stevevintennessee]

I get it... If you have a 25k note in Iraq they will trade for an equal value of smaller notes. The same thing happened when the United States re-denominated it's currency over the course of 10 years. Your 1000 bill became 10 100's. I get it and it makes total sense to me!

[easyrider]

I get it... If you have a 25k note in Iraq they will trade for an equal value of smaller notes. The same thing happened when the United States re-denominated it's currency over the course of 10 years. Your 1000 bill became 10 100's. I get it and it makes total sense to me!

yes its been done before here in the good ol USA also we have had tons of currency all over the place again this is just my opinion but makes sense to me.

[Don & Rocio]

I get it... If you have a 25k note in Iraq they will trade for an equal value of smaller notes. The same thing happened when the United States re-denominated it's currency over the course of 10 years. Your 1000 bill became 10 100's. I get it and it makes total sense to me!

Exactly!

[NoviceInvestor]

As I interpret this it means that 40 by 25000iQD now is 1000000m IQD and when replaced I will have 1000IQD ..and at what value...??? Perhaps EasyRider or another could explain this too me..Its seems that its a loss not a gain..Look forward to a reply not a bash thank you

[blonde_minx]

How would a lop help iraq !!!! Answer it wouldnt !!!!!! say they exchange the 25k for a 25 dinar note but keep the exchange rate the same it would be a disaster, it would mean if you were buying something for say 50,000 dinars which would be roughly $42 then it would mean carrying so much more paper currency than ever before, it just doesnt make an sense, the iraqi people would need to carry bags and bags of money just to purchase normal items, this is what the Government is trying to stop ( worthless large note) but they dont want worthless lower notes either , Less paper money but more value makes perfect sense so if they introduce the lower notes then they would have to increase the exchange rate for it to work

Edited June 28, 2011 by blonde_minx

[Don & Rocio]

As I interpret this it means that 40 by 25000iQD now is 1000000m IQD and when replaced I will have 1000IQD ..and at what value...??? Perhaps EasyRider or another could explain this too me..Its seems that its a loss not a gain..Look forward to a reply not a bash thank you

If you're in country...yes....your 25k notes will be replaced with 25 dinar notes. Outside Iraq....different story...their still worth 25K dinar. Make sense?

[easyrider]

How would a lop help iraq !!!! Answer it wouldnt !!!!!! say they exchange the 25k for a 25 dinar note but keep the exchange rate the same it would be a disaster, it would mean if you were buying something for say 50,000 dinars which would be roughly $42 then it would mean carrying so much more paper currency than ever before, it just doesnt make an sense, the iraqi people would need to carry bags and bags of money just to purchase normal items, this is what the Government is trying to stop ( worless large note) but they dont want worthless lower notes either , Less paper money but more value makes perfect sense so if they introduce the lower notes then they would have to increase the exchange rate for it to work

Yes, i think many people are misinterpreting what i am trying to say the lifting is off the currency but the value of which you had wil remain the same they also have to increase the value of the dinar of course to be traded internationally to help their economy and people I am in No way cadoning the traditional LOP or redenomination many think it will go our notes will be legal tender here to cash in they want those bills out of circulation. this is how they wil do it imagine some iraqi citzen come in with a 25k note and say well we Lopped the value now your notes is simply only worth 25 instead of 25k no way I was only implying the 25k note becomes a 25 dinar note but has the same value it did before talking currency wise.

If you're in country...yes....your 25k notes will be replaced with 25 dinar notes. Outside Iraq....different story...their still worth 25K dinar. Make sense?

yep total sense.

[Don & Rocio]

People with large amounts of dinar in an iraqi bank account will see a large RI.

[BlueJeanBaby]

Okay, I get what you are saying...where I have a hard time understanding is what about bank accounts? Pretend I am a businessm in Iraq and I put all my truck loads of dinar in an bank account. How are they going to LOP my money from said account? If someone can explain that to me, I'll drink the LOP Kool-Aid.............

If I have Iraqi dinar in a bank account in Iraq before a redenomination, the VALUE of the tender in that account WILL NOT CHANGE just because they redenominate.

I deposited 500K of bills into the account, and that 500k will STILL BE WORTH 500k ... it's just that when I go there to get some cash (let's say that I want 100 dinar for argument's sake), they'll give me a 4 25 dinar notes instead of 4 25,000 dinar notes, because the VALUE of the bills hasn't changed,

The ONLY thing that changes with a redenom is the APPEARANCE of the bill - NOT how much it's worth.

This isn't Kool Aid. It's common sense.

Edited June 28, 2011 by BlueJeanBaby

[easyrider]

What you have just explained is exactly what a "lop" is....

Example your 25,000 Note is worth $25 Dollars today........they take your 25,000 Note and give you a new 25 Dinar Note that is still worth $25 Dollars.... they HAVE LOPPED THE 3 ZEROS OFF........ They have also, at this point, pulled a "slight of hand trick" whereby they can "claim" that their "new dinar" is "worth a dollar".......pretty smart on their part....

It is not going to matter if a person has a 25,000 note or a 25 note...the CBI / Govt is going to "declare" that they are of the same value. Of which they have every right to do...and is what they have been telling us for years that they were GOING TO DO......it is what it is...

That is why they are saying they can be in circulation at the same time...they are WORTH the same...this is NOT the RV we had hoped for regardless of how the gurus try to spin it....sadly enough.....

whoa you actually spun it differently i nevr stated the value would change. Also i have read many articles and ive always seen LOCAL as an indicator. That doesnt mean we get screwed this will be in country. Take a 1k bill to the bank what do you get 10 100.00 bills.

Edited June 28, 2011 by easyrider

[rapidrex]

Are you trying to start a fire storm with more LOP talk?

IMO that would be a net zero gain.

Would not improve the quality of living for the people of Iraq.

Only way a LOP will work, is if they also change the value.

It was told that the IQD would be the strongest currency in the region.

That would not happen with a straight LOP.

IMHO no LOP.

Revalue and remove the large bills from circulation.

I'm sure that they have lower denoms already printed and ready to go.

Just say'n

lopsters make me crabby

[easyrider]

If I have Iraqi dinar in a bank account in Iraq before a redenomination, the VALUE of the tender in that account WILL NOT CHANGE just because they redenominate.

I deposited 500K of bills into the account, and that 500k will STILL BE WORTH 500k ... it's just that when I go there to get some cash (let's say that I want 100 dinar for argument's sake), they'll give me a 4 25 dinar notes instead of 4 25,000 dinar notes, because the VALUE of the bills hasn't changed,

The ONLY thing that changes with a redenom is the APPEARANCE of the bill - NOT how much it's worth.

This isn't Kool Aid. It's common sense.

YES!!!!!!!!!!!!