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Question About LOP


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So I have read a lot of info here on the Dinar LOP/RV, but I have questions that I still don't have a answer to after all that reading <_<

First I went to http://www.cbi.iq and looked at the 2009 Financial Statement here: http://www.cbi.iq/documents/fin_sta2009_en.pdf

It states on page 5 section 2.1 that:

The financial statements have been presented in Iraqi Dinar “IQD”, which is the functional and

presentation currency of the CBI. All amounts in the financial statements are rounded to the nearest

million IQD unless otherwise stated.

ok with that being said the cash & cash equivalents, end of the year for 2009 was $18,022,171.00, so just using that number how much would the CBI have in cash & cash equivalents after the LOP?

If the LOP takes away from their current value, why on earth would they do it?

If it doesn't effect their bottom line because its in a "account" and its not a paper note, why can't I just open a foreign currency account and wait for the LOP/RV and still cash in on the full amount of Dinar I have in my account?

If anyone can help answer those questions for me I would greatly appreciate it :D

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ok with that being said the cash & cash equivalents, end of the year for 2009 was $18,022,171.00, so just using that number how much would the CBI have in cash & cash equivalents after the LOP?

If the LOP takes away from their current value, why on earth would they do it?

If it doesn't effect their bottom line because its in a "account" and its not a paper note, why can't I just open a foreign currency account and wait for the LOP/RV and still cash in on the full amount of Dinar I have in my account?

If anyone can help answer those questions for me I would greatly appreciate it :D

Come on. Really. I'm thinking your joking with us.

First, you have a post titled "Question About LOP". So you say to yourself "Hmmm, should I post this in the QUESTION section or the LOP section"? And then you post it under NEWS?

And learn how to correctly read the statement. It is not "$18,022,171.00", it is listed as 18,022,171 (IQD Million), so that would be 18.022 Trillion IQD.

1- The cash and equivalents you referenced is foreign currency, and they remain unchanged by a redenomination.

2- In a redenomination, even so called electronic IQD is exchanged for the new currency.

Really people, a redenomination is a very simple thing that has happened in many countries whose situation is much like Iraq's. :huh:

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Yes sadly I know that but I do have access to a bank that I can deposit my Dinar in... I just wanted to know if it would be worth it or not, because at the end of the day if the same applies to whats in the bank as to whats in my hand I don't want to go through the trouble.

After reading all the post everyone really just seem to keep going in circle and not really answering the questions asked, and any answer that get a reply worth digging a little deeper into is shot down by "someone" that know more then the person that answered the original question (or so they seem to think).

I'm just hoping someone can give me a answer that I can research and determine if there is some truth in it or just someones opinion of what they think is the correct answer.

Not sure if that can happen but its worth a try, right? :blink:

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sorry Senior Member if I posted in the wrong section, but there is no need to be rude! I DON'T HAVE TO LEARN TO READ ANYTHING and it doesn't really matter to me if its foreign currency or if its IQD's that are held in bank accounts of there citizens. It was just a number being use that I wanted a answer too.

I do understand why there is so much confusing and people can't really get a credible answer from any forum on any site you can do yourself a favor and grandstand some place else, please and thank you.

Now if anyone else would like to try and answer my question WITHOUT the rudeness or air of I KNOW EVERYTHING YOU KNOW NOTHING I would greatly appreciate it! B)

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I would like to apologize to anyone else that reads my first post/question (mostly senior members) because I seem to have pissed Mr. Froto off for posting in the wrong section and apparently asking questions that weren't suitable enough to get a polite reply. FORGIVE ME PLEASE or I may not be able to sleep tonight... ;)

Sincerely,

A Newbie

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This is JMHO with the dinar, if they are still auctioning dinars and selling to everybody and then this LOP talk is happening want there be a lot of pissed off countries with Iraq and there investment possibilities would be 0. what im trying to say is they are still selling and autioning off millions of dinar knowing that they might lop isnt that something like inside trading?

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This is JMHO with the dinar, if they are still auctioning dinars and selling to everybody and then this LOP talk is happening want there be a lot of pissed off countries with Iraq and there investment possibilities would be 0. what im trying to say is they are still selling and autioning off millions of dinar knowing that they might lop isnt that something like inside trading?

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This is JMHO with the dinar, if they are still auctioning dinars and selling to everybody and then this LOP talk is happening want there be a lot of pissed off countries with Iraq and there investment possibilities would be 0. what im trying to say is they are still selling and autioning off millions of dinar knowing that they might lop isnt that something like inside trading?

I'm glad to know I'm not the only one thinking that way, thanks for the reply I appreciate it!

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So I have read a lot of info here on the Dinar LOP/RV, but I have questions that I still don't have a answer to after all that reading <_<

First I went to http://www.cbi.iq and looked at the 2009 Financial Statement here: http://www.cbi.iq/documents/fin_sta2009_en.pdf

It states on page 5 section 2.1 that:

The financial statements have been presented in Iraqi Dinar “IQD”, which is the functional and

presentation currency of the CBI. All amounts in the financial statements are rounded to the nearest

million IQD unless otherwise stated.

ok with that being said the cash & cash equivalents, end of the year for 2009 was $18,022,171.00, so just using that number how much would the CBI have in cash & cash equivalents after the LOP?

If the LOP takes away from their current value, why on earth would they do it?

If it doesn't effect their bottom line because its in a "account" and its not a paper note, why can't I just open a foreign currency account and wait for the LOP/RV and still cash in on the full amount of Dinar I have in my account?

I called Currency Exchange International in Orlando and two people there told me that when the RV happens our dinars that we have will be worth the value of each dinar. As reported the CBI on video this is not "A lop" it is just to free up zeros to help the citizens spend more.

For example if you have 3 million dinars and the dinar is RV to 1.00 USD you will receive 3 miliion USD for your 3 million dinars.

If you want to get the truth talk to companies like currency ex international that have the facts. Most of these posters have no idea what they are talking about.

If anyone can help answer those questions for me I would greatly appreciate it :D

I called Currency Exchange International in Orlando and two people there told me that when the RV happens our dinars that we have will be worth the value of each dinar. As reported the CBI on video this is not "A lop" it is just to free up zeros to help the citizens spend more.

For example if you have 3 million dinars and the dinar is RV to 1.00 USD you will receive 3 miliion USD for your 3 million dinars.

If you want to get the truth talk to companies like currency ex international that have the facts. Most of these posters have no idea what they are talking about.

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I called Currency Exchange International in Orlando and two people there told me that when the RV happens our dinars that we have will be worth the value of each dinar. As reported the CBI on video this is not "A lop" it is just to free up zeros to help the citizens spend more.

For example if you have 3 million dinars and the dinar is RV to 1.00 USD you will receive 3 miliion USD for your 3 million dinars.

If you want to get the truth talk to companies like currency ex international that have the facts. Most of these posters have no idea what they are talking about.

What your explaining is a straight up rv....not a lop/redenomination.....which is what this topic is about...

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keepm's right. A LOP/RV scenario might look like this:

Your 3M IQD becomes 3000 NEW (entirely different) IQD, which gets valued at say 1USD. Therefore, you paid roughly $3000 US for your initial IQD, and now you'd have to exchange it for the NEW IQD.

If the NEW currency is valued at $1 USD, at first you are breaking even....

However, this NEW IQD would hit the ForEx. I could argue all day that over time this NEW IQD would hit $3+. At that time, you would triple your money.

If you held your money in something like a Warka bank account, you would not have the intermediary step of trading in your current IQD for the NEW IQD. Plus, if Iraq decides not to include foreigners (which they legally can), you'd be protected from that, too.

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I would like to apologize to anyone else that reads my first post/question (mostly senior members) because I seem to have pissed Mr. Froto off for posting in the wrong section and apparently asking questions that weren't suitable enough to get a polite reply. FORGIVE ME PLEASE or I may not be able to sleep tonight... ;)

Sincerely,

A Newbie

I am sorry, my reply was pure sarcasm. I thought it was funny and I could care less where you place a post.

You did fail to notice that I answered your questions directly. An RD does not affect foreign currency, an RD does not change the current value, and bank accounts are affected, again with no loss of value.

Be very careful about this "bank" you refer to being able to put your dinar in. There are some shady deals out there. It wouldn't be a secret, so you would do well to post a question about them and see what people think.

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