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Wow, they gave a rate in a news article...its a RI


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I wish Rosetta Stone had an Arabic version.

:blink:

I believe they do.

Now looking at this thread with my handy-dandy Skeptical DV Rumors Section Goggles (only 19.95 + S&H) on, could this maybe be an Iraqi pump?

Does Iraq now have their very own __(place your favorie guru name here)____? Just sayin'...

Good find, though.

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I believe they do.

Now looking at this thread with my handy-dandy Skeptical DV Rumors Section Goggles (only 19.95 + S&H) on, could this maybe be an Iraqi pump?

Does Iraq now have their very own __(place your favorie guru name here)____? Just sayin'...

Good find, though.

laugh.giflaugh.giflaugh.giflaugh.giflaugh.giflaugh.giflaugh.giflaugh.gif

Exactly what I was thinking......

--------------------------------------------------------------------------------

07/5/2011 12:00 صباحا

بين فترة وأخرى يطرح البنك المركزي العراقي فكرة رفع ثلاثة أصفار من العملة العراقية ، وأعلن أنه أوشك على الانتهاء من وضع اللمسات الأخيرة على صياغة القانون لتنظيم عملية الرفع لإرسالها الى

Day / Month / Year

Thanks!

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Don't get your panties all bunched up guys, its an old post from a wile back when they started talking about RV-Ri whatever, and take note how even in this article it says to start out at a rate and work up to what it yoused to be in pree war.Just my thoughts :blink:

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For those of you that said this is a RD, could you splain that please? I would like to see the statements that you read in this article that made you come to the conclusion that this is LOP.

I have read it over and over and the only thing I get from this is they plan on raising the value (RV) of the currency in slow measured increments until they finally get back to the $3.22 rate. Looks as if we may be in for a long ride on the way up. Since other articles of late have stated they plan to re-denominate in mid to late 2012, the process shouldn't take longer then a year. I take this article as GOOD news. For those anxious for the ride to be over you will be able to cash out everything and for those wanting to stay on the coaster, perhaps cashing in a small amount and riding for a bit. The key looks like it will be getting off before they decide to LOP.

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coward, lazy....same diff

I respect most folks views here Aqua Dude, as long as they don't go on the attack without warrant. Now I could be wrong, and I don't know if you have bad blood between said poster but his quote "LOL Going out on a limb here. That's not what they're saying."... maybe I am not reading it right, but it just simply states he didn't agree but he knew he was "going out on a limb"... does that make him a coward for his comment? I didn't know this was some kind of fight... just sayin bro ... we need to all give each other a little bit of space. Who knows what is going on in his head, I sure don't ???... do you? I know we all want it to RV tomorrow... at least I do anyway, but lets try to be a wee bit more patient with each other (and yes, you have my permission if I lose it next week to call me on the carpet... I am human too!) wink.gif Peace. Thanks for the article... really! Go RV already! cool.gif

Edited by RodandStaff
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Stop with the rumors already.... Find me something that states chapter 7 fully removed. Thats what we need to be looking for... from a credible source.

What is a "RI"? All i've ever heard is RV or RD

RI=reinstatement to the prior value

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It's dated 7/5/2011.

That's May 7th 2011.

Dating by the numbers is NOT a standard ... some people do it your way, others do it the other way, in which case it would be the seventh month, 5th day, 2011 ... and guess what that is ... woohoo!!! ... July 5, 2011.

Might be current, eh?

:)

smee2

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hate to be the judge of appearances but just look at that guys pic...then look at his answer....keep in my all that you know about what a lop will do and the above article which makes so much sence its a POW in the face....and then come to a conclusion of his breif smug face answer....

LOL goin after my appearances?? Is that because your envious of my looks or is it because you cannot discredit my words?? Deleting the zeros IS a redenomination (or lop whatever you wanna call it) Anything pertaining to deleting the zeros is exactly that.....redenominating by 1000 times in Iraqs case....your 25k note will be only worth 25 new dinar......this is NOT a new concept....its been done for years and is not new to this situation......

With an inflated money supply you really think that this means they are going to RI to over 3 dollars? LOL They have nothing to back that, not to mention no one would acknowledge that kind of rate with such a huge money supply....kind of like how they didnt acknowledge the artificial rate that saddam set....BECAUSE THE CURRENCY WAS INFLATED....

http://www.unc.edu/~lmosley/APSA%202005.pdf

Please take the time to read this....it will answer all your questions and pretty much back up everything I have been saying about RD, how they work, and why.......

Iraq falls into two different scenerios for why they could RD......

DELETING THE ZEROS IS ABOUT A RD.....not a RV......

When you put down the koolaid, then come talk to me and we can discuss whatever you would like......and if you cant do anything but try to attack my apperance, then Ill know that this subject is way over your head.....Hahaha

LOP is BS.. ok so if we were to LOP the US Currency.., the 100 bill would be $1 and $1 would be a penny.. how stupid does that sound.. we just walk around and with a black marker and pretend the zeros on a $50 or $100 bill isnt there.. you have to understand that the translators dont always have the same meaning. a lop would devalue the currency. every major corporation would rape them and leave if they LOP. now you can argue your point that the turkish lira Lop'ed .. so why not Iraq.. well do you see Multi billion dollar companies flocking to Turkey.. ummm NO!..

You should really do some more homework on the lop....then you can come talk to me....but until you understand that, I cant really hold a conversation with you because it wont go anywhere until you comprehend it in its entirety....sorry......

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It would be great to have someone who could translate Arabic to get an accurate take on this article. As it is, I can somewhat understand Google translated Arabic...so I’ll give it a shot. This is my own translation...if you don’t like it...you can always do your own or add to it!! My comments are italicized.

I think it’s just an opinion piece rather than government policy.

Delete Three Zeros From the Currency of Iraq

07/5/2011 12: 00 am

From time to time by the Central Bank raised the idea of raising three zeros from the currency and announced that he was nearing completion of finalizing the drafting of the law to regulate the process of delisting to be sent to the Presidency of the Prime Minister and then to the House to decide whether there was a need to raise the three zeros from the currency of the issuer, where a senior official said the Monetary Authority that House is the final decision in this regard .

The idea of raising three zeros from the Dinar is not new, and in fact, the Central Bank of Iraq has drafted a law which is near completion on this matter. This law will be sent to Prime Minister Maliki and then to Parliament for a vote. According to a senior official, the Parliament has to make the final determination on this law.

Iraqi Central Bank adviser says: the project will be organized to raise three zeros for the advancement of the local currency in internal and external economic circulation, and regarded a strategic project aimed at reducing inflation experienced by the Iraqi market, the Finance Ministry announced in February that the local currency of zeros deleted edits the Iraqi economy and strengthen the Iraqi dinar Bank Fund .<BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break">

An Iraqi CBI adviser states that passage of the three zeroes law will ultimately advance the Dinar internally and abroad. Raising the three zeroes will also reduce inflation, liberate the Iraqi economy from various constraints, and enhance the value of the Iraqi dinar (in accordance in working through the IMF).

We believe that the draft three zeros from the currency lifted Iraq unhelpful and raises the value of Iraqi dinars would add when applied multidimensional problem to the many problems experienced by the worsening economy, and these problems is confusion and clutter the market buy and sell debt among citizens, as well as confuse mood that will haunt the Iraqi citizen as a result of the emergence of a new phenomenon requiring intellectual and psychological stress of familiarity and acceptance .

We believe that lifting the three zeros from the Dinar is of paramount importance. Failing to raise the zeros and add value to the Dinar will further frustrate a burgeoning Iraqi economy. Already there is confusion and disorganization within the market while buying, selling, and calculating debt (apparently due to the unwieldy nature of using a currency with multiple zeros and the US dollar). This relatively new phenomenon, in addition to past issues with the currency from the Saddam era, adds to the general Iraqi disillusionment with their currency.

The other hand requires the project before the application of small categories won't represent parts of the dinar currency will be worth a penny, note that these small currencies would cost a mint State large sums, then the project does not strengthen the Iraqi dinar (( According to the Ministry of Finance)) where it will stay intact (worth (if equal amounts of the other results are equal equal )).<BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break">

However, this law will need to be implemented (raising zeros or/and RV...you decide) before creating the lower denoms/coins or else the lowers will be worth only a fraction of a penny....not to mention the cost of creating the new lower denominations would otherwise be prohibitive without a currency with increased value. Interestingly, the Ministry of Finance has stated that this three zeroes law would not increase the value of the currency. (This is the best I could do with this paragraph).

In a different Of the Central Bank of Iraq to the effect that the process of raising three zeros from the local currency is a complex process requiring extensive economic study, also Adviser said the Central Bank of Iraq we have to deal with this issue with caution and Tan because they may cause economic problems in case of premature or do anything else confused Iraqi economic situation .<BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break">

In another statement from the CBI, they stated that the process of removing three zeroes from the local currency is complex and needs to be studied extensively. An adviser to the CBI said this issue needs to be dealt with carefully as it may cause further economic problems if it is rushed or increases confusion.

We say cautious and pay the occurrence of such problems see better it put the project on the Iraqi public with invited competent in economics to demonstrate their familiarity with before sending it to the Presidency of the Prime Minister and Parliament.

We believe the most cautious stesp would be to put the issue before Iraqi economists and the public prior to the passage of the law.

Promises to start seeing the futility of the project .also believe-does not lead to the lifting of the Iraqi dinar, we aspire to adopt the Iraqi Central Bank and economists project that aims to raise the value of Iraqi dinars prior to returning value equal to (3.33) dollars through a package of measures and bold decisions,

We are tired of futile promises. If this plan to raise the three zeros does not increase the value of the currency, we would like the CBI and the Iraqi economists to develop another strategy to take bold steps to raise the Dinar back to it’s original value of $3.33.

first review the import process and reduced to essentials, so that wide open import drain hard currency surplus and deposited with the Central Bank of Iraq in support of the currency And not for sale through auction for Iraqis by traders to cover asteradathm of goods, as well as to review with the aim of reducing public spending and services in respect of the import of expensive furniture, which can be obtained from the local market, which encourages and supports local industry and jobs for the unemployed, also support and develop the agriculture sector by assisting farmers with seeds and agricultural machinery in order to increase the agricultural crops production .

The rest talks about how it would be great to increase the value of the Dinar due to costs of importing goods, which would support industry and jobs and agriculture.

There are also other things to support Iraqi currency: reduction operations staff testimony and made only for the purpose of training and development.<BR style="mso-special-character: line-break">

<BR style="mso-special-character: line-break">

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I don't know if I would go that far - Here is the quote "raise the value of Iraqi dinars prior to returning value equal to (3.33) dollars through a package of measures and bold decisions"

So is this a RV of RI? - it looks like it might be in steps ....

Impossible to tell exactly what they intend. Could be a Lop RV RI. Or smaller RV's until it reaches the RI level.

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I was just driving home drinking a DC in my BMW while listening to JZ ... the entire time I couldn't wait to get home to make a BLT. I used to think LT was a great running back. I am still waiting for this thing to RV. My brother is an MD. I grew up outside of NYC and I hate the song "You down with OPP?"... ahhhhh... cocktail hour... :blink:

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LOP is BS.. ok so if we were to LOP the US Currency.., the 100 bill would be $1 and $1 would be a penny.. how stupid does that sound.. we just walk around and with a black marker and pretend the zeros on a $50 or $100 bill isnt there.. you have to understand that the translators dont always have the same meaning. a lop would devalue the currency. every major corporation would rape them and leave if they LOP. now you can argue your point that the turkish lira Lop'ed .. so why not Iraq.. well do you see Multi billion dollar companies flocking to Turkey.. ummm NO!..

Just because you dont understand or get it, doesnt mean it wont or cant happen.

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After reading this article and reading this thread earlier today, a light bulb went off after some time and I realized, that yes, I agree with Psych this is an opinion article, not a "news article" and I believe the writer is sharing his/her views on the studies - The writer disagrees with the raising of the zeros, that it will cause more issues amongst the citizens because it does not raise the value. The printing of lower denominations is waste of money. The writer is suggesting they put this project in front of the citizens

We say cautious and pay the occurrence of such problems see better it put the project on the Iraqi public with invited competent in economics to demonstrate their familiarity with before sending it to the Presidency of the Prime Minister and Parliament.

Then he proceeds to say he believes that the best method would be to RI (yes reinstate to 3.33) over a period of time.

This is my oversimplified version.

And yes Keep anything is a possibility ....I have an idea - if it LOPs as you suggest, I will give you a 25,000 dinar and if it RV's you can give me one. rolleyes.gif

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raise the value of Iraqi dinars prior to returning value equal to (3.33) dollars through a package of measures and bold decisions

I agree with you DinarDana, sounds like they will come out low then gradually increase to 3.33

oops..... posted and didnt finish reading the post.....Sorry

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raise the value of Iraqi dinars prior to returning value equal to (3.33) dollars through a package of measures and bold decisions

I agree with you DinarDana, sounds like they will come out low then gradually increase to 3.33

oops..... posted and didnt finish reading the post.....Sorry

Don't be confused, this is not an official news article but one man's opinion of what he suggests the Iraqi Govt. should do. It appears he disagrees with the most recent news of raising the zeros. I guess he sees the same logic many of us debate on this forum, and it supports my logic. Truthfully, I believe no one knows, it's all speculative.

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Stop with the rumors already.... Find me something that states chapter 7 fully removed. Thats what we need to be looking for... from a credible source.

RI=reinstatement to the prior value

Equals REVALUATION. You cannot REINSTATE a currency that has not been anywhere, only revalue.devalue or redenominate can apply.

Kuwait was completely different, when the Iraqis invaded they changed the national currency to Iraq dinar. After the war the Kuwait dinar was reinstated as the national currency.

Edited by sandyf
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