RV new currency only???

[FRUSTRATED]

Has anyone thought about if they were to revalue the new lower denoms and leave the current dinar where it is at? The lower denoms will be a new money and obviously need a different rate to be of value.It would accomplish all the things they have been talking about.It would not effect the value of the current dinar for the iraqi's, and it would reduce the carry cash,they could easily have there $3plus rate.Best of all they could screw the hell out of the people they hate,us AMERICANS.No bashing neccessary just a thought!!!

[chimman]

Yup i thought about that many times already. Im glad i wasnt the only one thinking that too. and btw Tony the so called guru is african american so who says only white people lie? and it makes sense if the tier 1 and 2 is true.. Tier 1 people is getting rid of there 25k and 5k notes while you and me have to wait and wait. Then when the so called tier 1 and 2 are done. The big notes will become useless for us.

Edited July 6, 2011 by chimman

[ezymoney]

This topic has been discussed many times....IMO..I cant see Iraq just revaluing small denoms...after all a dinar is a dinar...in other words a 25k note has the same value 25 thousand 1 dinar notes. Research this site and you can find the answers to most of your questions. TC

[Mstr_William]

.Best of all they could screw the hell out of the people they hate,us AMERICANS.No bashing neccessary just a thought!!!

I've thought of this too. However Americans are not the only ones who own Dinar. Can't see Iraq wanting to piss off the world as a whole after attaining entry into WTO...ect ect....

Here's hoping!

[chimman]

Tier 1 people is getting rid of there 25k and 5k notes while you and me have to wait and wait. Then when the so called tier 1 and 2 are done. The big notes will become useless for us.

[hoopdog]

Tier 1 people is getting rid of there 25k and 5k notes while you and me have to wait and wait. Then when the so called tier 1 and 2 are done. The big notes will become useless for us.

So what are you trying to say, that Tier 1 people is getting rid of there 25k and 5k notes while you and me have to wait and wait. Then when the so called tier 1 and 2 are done. The big notes will become useless for us?

Just kidding, you posted this already earlier in the conversation.

[coldwarvet]

While Iraq certainly can do what they want, if they (or more particularly, the GOI and CBI) were to use this strategy, it would constitute a huge breach of faith and trust on the part of the GOI and CBI. While much of the current and pending investment in the nation of Iraq has nothing to do, in a direct sense, with their currency, word undoubtedly would leak out if they were to try such a move.

Since, in the ultimate, any agreement to invest time, money and resources in any business venture depends on mutual trust between the parties, how trustworthy would the Iraqis appear to ANY prospective business partner if they handled their currency in that way? I'm sure they're acutely aware of the reputation (warranted or not) of the "duplicitous Arab," and anything that reinforces that perception would only do harm to Iraq itself. So trying this, or any other strategy like it, to cut a segment of the global Dinar holding population out of the equation would only serve to shoot Iraq in its collective foot.

[dinar4wealth]

Has anyone thought about if they were to revalue the new lower denoms and leave the current dinar where it is at? The lower denoms will be a new money and obviously need a different rate to be of value.It would accomplish all the things they have been talking about.It would not effect the value of the current dinar for the iraqi's, and it would reduce the carry cash,they could easily have there $3plus rate.Best of all they could screw the hell out of the people they hate,us AMERICANS.No bashing neccessary just a thought!!!

How would the average Iraqi get the new lower denoms if they couldnt trade in the large ones for small ones? Im sure they wont just be handing them out on the street corners. If they could trade them in im sure we could too. Its a good thought but would never work

[TRERUMPH]

Has anyone thought about if they were to revalue the new lower denoms and leave the current dinar where it is at? The lower denoms will be a new money and obviously need a different rate to be of value.It would accomplish all the things they have been talking about.It would not effect the value of the current dinar for the iraqi's, and it would reduce the carry cash,they could easily have there $3plus rate.Best of all they could screw the hell out of the people they hate,us AMERICANS.No bashing neccessary just a thought!!!

WOW!!!!!!!!!!!!!!!!!! man that sounds exactly like the way i was thinking and i hope im wrong........ :unsure:

[Nelg]

Tier 1 people is getting rid of there 25k and 5k notes while you and me have to wait and wait. Then when the so called tier 1 and 2 are done. The big notes will become useless for us.

May I ask where in the world you got the "Tier" concept? Why do you believe this is what Iraq is going to do? Is there any justification for thinking this theory has any validity?

[Darren77th]

Here is something else im worried about. Did any of you hear the intel of the C17 planes flying into Iraq loaded with Dinar? Is there any possibility that its our country bringing in the old dinar for the new dinar? I can't get the quote I heard a ways back that said this investiment was not ment for the avarage joe like us. Which gets me to think that maybe the government and the wealthest investors are getting the new money and we will never get the opportunity to do the same making our money no better than toliet paper. I getting real worried.

[Caducues]

Man...tha would be A LOT of money down the pisser to produce all those larger denoms just to make them worthless and unable to circulate furthering their wealth through sales circulation. As we all have had drilled into our head anything is possible in this investment but I find highly unlikely and illogical to waste what maybe their greatest fulcrum to a strong income in years to come....just thinkin'.

[chimman]

Did any of you hear the intel of the C17 planes flying into Iraq loaded with Dinar

I honestly think the tier 1 and 2 are real.. They cashed out the high government people with the 25k notes and 5k.. They prob told them in couple days it will be useless so there is no double dipping but they dont announce to us regular people so they still make millions of dollars from us buying the 25k and 5k useless notes. and someones post about it would be waste of money making dinar. Not true.. Its like going to a casino and stealing a 100 dollar chip.. When u walk out the casino its only worth $1 to 2 dollar since thats how much it cost to make so usually they dont charge you with a felony.

[jpandlef3]

Has anyone thought about if they were to revalue the new lower denoms and leave the current dinar where it is at? The lower denoms will be a new money and obviously need a different rate to be of value.It would accomplish all the things they have been talking about.It would not effect the value of the current dinar for the iraqi's, and it would reduce the carry cash,they could easily have there $3plus rate.Best of all they could screw the hell out of the people they hate,us AMERICANS.No bashing neccessary just a thought!!!

you can not end a currency that is under ten years old. so if they print lower denoms they are simply adding to the current dinar we have and it falls under the covering of the current dinar. that is my thought and how i see it.

[keepmwlknfny]

Has anyone thought about if they were to revalue the new lower denoms and leave the current dinar where it is at? The lower denoms will be a new money and obviously need a different rate to be of value.It would accomplish all the things they have been talking about.It would not effect the value of the current dinar for the iraqi's, and it would reduce the carry cash,they could easily have there $3plus rate.Best of all they could screw the hell out of the people they hate,us AMERICANS.No bashing neccessary just a thought!!!

That is essentially what would happen if they redenominate.....after a certain amount of time, the bills we have would be deemed worthless, and then the new currency is what would get the new rate.....lets just hope they dont go down this road.....

[TPSprayduster]

Here is something else im worried about. Did any of you hear the intel of the C17 planes flying into Iraq loaded with Dinar? Is there any possibility that its our country bringing in the old dinar for the new dinar? I can't get the quote I heard a ways back that said this investiment was not ment for the avarage joe like us. Which gets me to think that maybe the government and the wealthest investors are getting the new money and we will never get the opportunity to do the same making our money no better than toliet paper. I getting real worried.

That was a fairy tale about the C17's carrying cash.

[MovieMaker]

That is essentially what would happen if they redenominate.....after a certain amount of time, the bills we have would be deemed worthless, and then the new currency is what would get the new rate.....lets just hope they dont go down this road.....

AMEN Brother!

[speculatorsRIDE]

Has anyone thought about if they were to revalue the new lower denoms and leave the current dinar where it is at? The lower denoms will be a new money and obviously need a different rate to be of value.It would accomplish all the things they have been talking about.It would not effect the value of the current dinar for the iraqi's, and it would reduce the carry cash,they could easily have there $3plus rate.Best of all they could screw the hell out of the people they hate,us AMERICANS.No bashing neccessary just a thought!!!

Sorry, but there is no way this would happen. Everyone should worry about a re-denomination if they want to worry. Better idea would be stop worrying all together. This will happen when it happens. No need to dream up scenarios that don't now and never will exist.

[cautiouslyhopeful]

Has anyone thought about if they were to revalue the new lower denoms and leave the current dinar where it is at? The lower denoms will be a new money and obviously need a different rate to be of value.It would accomplish all the things they have been talking about.It would not effect the value of the current dinar for the iraqi's, and it would reduce the carry cash,they could easily have there $3plus rate.Best of all they could screw the hell out of the people they hate,us AMERICANS.No bashing neccessary just a thought!!!

This is a fair question. I don't know why someone would -1 so I countered it with a +1. It is certainly not what we want but I suppose it is possible.

I always try to plan for the worst and hope for the best.

Thanks for the post.

C.H.

[HopefulTxn]

This topic has been discussed many times....IMO..I cant see Iraq just revaluing small denoms...after all a dinar is a dinar...in other words a 25k note has the same value 25 thousand 1 dinar notes. Research this site and you can find the answers to most of your questions. TC

Unfortunately, if there is a redenomination the statement of 'a dinar is a dinar' would not be accurate. If they choose to redenominate they will assign the new currency a different currency code than the existing IQD, possibly re-using the currency code NID that they did in 2003. So in the instance that there is a redenomination you would have 2 different sets of dinar currency co-existing in the system for X amount of time assigned by the CBI, yet each having their own value per dinar. An example of this can be seen with Turkey and the TRY and TRL currency codes.

[Austin-Powers-for-PM]

WOW!!!!!!!!!!!!!!!!!! man that sounds exactly like the way i was thinking and i hope im wrong........ :unsure:

It can't work like that. Imagine if you deposited a $50 bill into your bank 6 months ago. If all of a sudden new currency comes out, and you withdraw your money out, does it suddenly devalue it's worth to match the new, lower currency? Of course not. It has to maintain it's value.

[HopefulTxn]

It can't work like that. Imagine if you deposited a $50 bill into your bank 6 months ago. If all of a sudden new currency comes out, and you withdraw your money out, does it suddenly devalue it's worth to match the new, lower currency? Of course not. It has to maintain it's value.

Again, in a RD there is no loss of value, so no devalued anything. If they RD'd, then RV'd only the new currency to a higher amount, the money that was in the bank would automatically reflect the new value, so they would come out ahead.

If they were to RD, they would add a new currency code - this is something that has been done many times and there are plenty of examples of. Both currency codes exist in the system while the older currency is removed. So you would have, as an example IQD as the code for the current currency and NID for the redenominated currency. This is how they can have two separate notes floating in the system (ie. 25,000 and 25) that carry the same value.

Now, if 6 months ago a person put 117,000 dinar ($100) into a bank account and there was a redenomination, their account would be changed to reflect the new currency by the banks. So that account would change from 117,000 IQD w/ a rate of 1170 dinar to the dollar, to a balance of 117 NID w/ a rate of 1.17 dinar to the dollar. So the person would have an account balance that remained at the equivalent of $100.

If there was an RV of the new currency only, of say 1 NID to the dollar, then that account holder would see their account still change to 117 dinar, however the exchange value associated with it would rise to $117.

In neither case would the account holder lose one fil of value from their account.

Nobody that holds dinar wants a redenomination (lop) to happen, but we have to realize that the statements that there would be any 'devalue' associated with the process are completely false. That statement is easily verified as there are numerous examples to look at (Turkey, Brazil, Argentina, Peru, Poland, Romania, etc.). The only loss of value for people that held physical dinar would be from any premium pricing and fees paid acquiring the currency and whatever fees have to be paid to exchange it back to USD.

[keepmwlknfny]

Sorry, but there is no way this would happen. Everyone should worry about a re-denomination if they want to worry. Better idea would be stop worrying all together. This will happen when it happens. No need to dream up scenarios that don't now and never will exist.

Come on Sride.....you know better.....that's exactly what happens in a RD......only the new currency is given a new value......

[umbertino]

I've thought of this too. However Americans are not the only ones who own Dinar. Can't see Iraq wanting to piss off the world as a whole after attaining entry into WTO...ect ect....

Here's hoping!

You beat me to it... Exactly..........Dinar Investors are all over the World.... Mainly in the US, I know but surely many of them also in the rest of the Americas, Europe, Asia , Oceania and probably some even in Africa.

[HopefulTxn]

You beat me to it... Exactly..........Dinar Investors are all over the World.... Mainly in the US, I know but surely many of them also in the rest of the Americas, Europe, Asia , Oceania and probably some even in Africa.

Foreign investors going into Iraq would probably not care in the slightest if their is a currency redenomination. Since they wouldn't lose any money in the transition. In reality, a redenomination can be used as a signal by a country to let foreign investors know the inflationary problems are over.

One thing is that people holding dinar are not investors. They are currency speculators. Investors are sometimes referred to as having a symbiotic relationship with the economy, since the money that they invest helps to promote the value of a company, which helps to promote the economy. The currency speculators' relationship is sometimes referred to as being more parasitic in nature, as their goal is not to promote growth in the economy, but simply to reap the profits from the growth created by the investors, companies and policies of the country.