***Very interesting article***

[2fast4u2c]

Easy and Mr Ref...I hope you guys are correct..

[Crow]

ATTENTION................THEY DO NOT WANT ANYONE THERE USING THE US DOLLAR FOR ANYTHING...................IF THEY LOP, THE US DOLLAR WILL CONTINUE TO BE USED AS IN NAM WHERE THE DOLLAR IS USED AND NOT THE DONG!! UNDERSTAND WHAT A LOP WOULD DO............IRAQ WANTS TO BE FREE OF THE US AND ANYTHING THAT HAS TO DO WITH US.......AND IM FINE WITH THAT.....I WOULD LOVE TO SEE OUR BOYS AND GIRLS OUT OF THERE AS WELL AS OUR MONEY!!!!

Edited July 29, 2011 by Crow

[qzee]

Cheers for bringing the feminine into the Iraqi currency. If more women were making decisions, less pissing contests would happen. Plus having all dudes on the currency is always a problem, even at home, right? LOL

[Dinardarp]

I just want to make this clear that I don't know anything about this stuff and will admit to my blonde roots.

So? Is this scenario possible? "In house" RV which gets them off the USD, US defaults USD tanks and becomes toilet paper, then "in house" LOP of however many zeros they want and then go international?

[patb1]

IMHO

I feel that Easy is Right on

he has been a positive voice in this fourm since I have joined (and long before I would imagine),

he brings valid points, NEWS related articles with clear verbage and does not bash other people when they disagree.

We could all take a lesson from him.

It simply makes no sense to LOP(of course who ever accused the GOI of making sense), however there are to many WHALES involved now as well as Big GOVT's and the ever allusive IMF.

With all the turmoil going on in our OWN back yard(USA & debt ceiling) as well as China, and the other Major countries whoes economys will be dicrectly impacted (in The Basket of curriences to be Revalued),Iraq's dececion to RV will have A GLOBAL IMPACT. So with that In Mind I say NO LOP.

Thank you

[dog53]

I have consulted with the great spirit in a dream quest. And all the spirits of my ancestors. I have seen the spirit horse and they all say the same thing.

NO LOP-EM Just saying

Edited July 29, 2011 by dog53

[steveo]

i shaw hope they dont lop........hopefully one day we will see

[PartyTime]

He states in this article that Iraq has $30 trillion in dinar, but from my understanding the CBI has already removed 95%-97% of the dinar from circulation inside Iraq where right now they are only operating on 3% - 5% of that currency that is still in circulation.

[Biker55]

At the chamber of commerce meeting, Shabs said no lop. That's proof enough for me.

[easyrider]

Costs and Risks of Currency Redenomination

1.Cost of printing new notes and minting new coins. In the long-run this cost may be offset by the reduced number of notes that will be printed in future due to the reduction in the amount of notes for transactions.

2.The cost of disposing of the old notes and coins. This is likely to be small but there is a risk that some of the old notes may be re-circulated or round-tripped. It has been reported in some countries that officials who were charged the responsibility of destroying the exchanged (old) notes and coins secretly “smuggle” then back into circulation to be re-exchanged into the new currency. This could result in multiple “round-tripping” of the old currency which can fuel inflation. Therefore, the banking authorities must ensure that notes and coins withdrawn do not find their way into circulation.

3.The cost of public education and advertising the change to citizens. This could be substantial.

4.The cost of exchanging the old currency for the new currency in terms of man-hours lost in waiting in banking halls, changing records and dual accounting in both old and new currencies during the “interim” period.

5.Risk of massive disruption in the pricing mechanism in the economy and short-term inflationary pressure arising from the “announcement effect”. No matter the assurances from the CBN, a major economic policy like currency change is bound to trigger inflationary pressure due to the uncertainty such changes generate. However, the inflationary impact may be curtailed with effective public education and anti-inflationary policies, e.g. ensuring abundant supply of petroleum products and stable prices of petroleum products and government-provided services. In a country with a low level of financial literacy like Nigeria, determining new prices for goods and services could be a challenge for many traders, farmers and operators in the informal sector.

6. It took the European Union about five years from the decision to introduce the Euro currency to its full implementation, i.e. from 1998 to 2002.[v]

7.The uncertainty and instability that is inherent in major changes in economic policies in most developing countries could lead to increased speculation, capital flights, drop in foreign remittances, increased risk aversion, adoption of “wait-and-see” attitude by investors and increased sharp practices.

8.Likely short-term increase in the rate of armed robbery because robbers will flood banking halls and trail those who have exchanged large sums of old money for new ones. There is also a likely increase in other fraudulent activities and financial “scams”. For instance, since the announcement of the redenomination and the introduction into circulation of the new notes and coins in July 2007, several cases fake new Ghanaian cedis have been reported under spectacular headlines in their newspapers ”. You can trust that Nigerian fraudsters are already at work perfecting their strategies to take advantage of the proposed redenomination of the naira

[mrref]

Of course they can lop, what makes you say they will be worse off?

TRUST ME THEY WILL NOT LOP, YOU CAN TAKE IT TO THE BANK

Anyone that thinks ANY GOVERNMENT can't and won'd do something is totally living in a dream world. Look at what our government has done and continues to do. For example: bailouts, worthless stimulas, taking our currency off of the gold standard - get the picture? Politicians do not have much backround in economics and even the economists usually don't agree between themselves. Politicians will be guided and swayed by whatever THEY WANT to believe and ultimately what will in their mind bring THEM the most glory that they can take credit for and leave their mark on history.

BUT HEY WE ARE NOT DEALING WITH THE US GOVERNMENT, THESE IRAQI PEOPLE ARE SMARTER THAN THE US GOVENMENT YOU JUST WATCH AND SEE WHO COMES OUT ON TOP...LOL.....

We all appreciate your opinion.

You would do well to funnel it to Shabibi, who thinks otherwise.

I don't know what a LOP is, but if you are talking about a RD, that is exactly what Shabibi intends to do.

He has already submitted the plan to Maliki.

They will not be worse off; it is a revenue neutral process.

You and I won't do too well at first, but it is a very positive move for Iraq.

ReDenominating the currency will go a lot further gaining world confidence than the irresponsible act of increasing the value of an inflated money supply.

You really may want to consider laying off the rumors, and reading the news articles.

TRUST ME I'M BEEN IN THIS INVESTMENT GOING ON 8 YEARS AND I'VE DONE MY HOME WORK AND I KNOW THE DIFFERENCE BETWEEN THE RUMORS AND THE ACTUAL FACTS..LOL

Edited July 29, 2011 by mrref

[oneremedy]

THEY CAN NOT AND WILL NOT LOP, DON'T YOU UNDERSTAND THAT IF THEY LOP THEY WILL BE WORSE OFF THEN THEY ARE NOW, IF THEY LOP THERE CURRENCY STILL WANT BE RECOGNIZED, SO WHY WOULD THEY LOP.....

Im with you ref, I highly doubt it will LOP.

[paj1985]

Cant wait for sonnys lop chat because this is all beyond ridiculous,

[billio0]

Cheers for bringing the feminine into the Iraqi currency. If more women were making decisions, less pissing contests would happen. Plus having all dudes on the currency is always a problem, even at home, right? LOL

Hey qzee,

Let's not forget Susan B. Anthony. I used to love carrying those coins around. They also kept me on my toes when making change, and prevented me from giving them away as quarters, which they were similar to in size. The new ones don't look or feel as nice.

[TFK]

Of course they can lop, what makes you say they will be worse off?

Uh Oh. Here come those pesky lopsters crawling out from under their rocks again. Somebody squash them ugly little buggers!

[Icepick]

We all appreciate your opinion.

You would do well to funnel it to Shabibi, who thinks otherwise.

I don't know what a LOP is, but if you are talking about a RD, that is exactly what Shabibi intends to do.

He has already submitted the plan to Maliki.

They will not be worse off; it is a revenue neutral process.

You and I won't do too well at first, but it is a very positive move for Iraq.

ReDenominating the currency will go a lot further gaining world confidence than the irresponsible act of increasing the value of an inflated money supply.

You really may want to consider laying off the rumors, and reading the news articles.

Well said. RD, then RV is the responsible thing to do.

[stenz68]

So, they have say 30 trillion Dinar out there, LOP the three zeros and they will have 30 billion dinar? You can't run a country with only 30 Billion dinar. Sorry loppsters try something else.

[paj1985]

Uh Oh. Here come those pesky lopsters crawling out from under their rocks again. Somebody squash them ugly little buggers!

Awww bless you, i plussed you for the effort!

[paj1985]

So, they have say 30 trillion Dinar out there, LOP the three zeros and they will have 30 billion dinar? You can't run a country with only 30 Billion dinar. Sorry loppsters try something else.

Thats a great point, but i think they could work that out by rv'ing after a redomination which would be double or treble the 30billion your saying. Still hoping for a reval though

[estewart]

I've never understood the lopping.

I believe the only bill in circulation now with three zeros is the 25K bill, so far as I know. There ism' a 10K bill is there? Or is there?

If they want to eliminate those three zeros on that one bill all they need to do is take that particular bill out of circulation. A 25 Dinar (lopped) bill already exists, so there's no replacement bill needed without the three zeros which would need to be released to replace the lopped 25K bill.

Nothing about the lopping makes any sense. Just my view.

I'm seeing the subject matter as calculated obfuscation, for whatever reason

[delta22]

Great Post Easy thanks. But I must be the only idiot here cause no one else is asking.WTH is meant by feminine ? I have seen this term in several article's and posts but for the life of me I can't figure out WTH it means. Some one please help.

[Dalite]

I've never understood the lopping.

I believe the only bill in circulation now with three zeros is the 25K bill, so far as I know. There ism' a 10K bill is there? Or is there?

If they want to eliminate those three zeros on that one bill all they need to do is take that particular bill out of circulation. A 25 Dinar (lopped) bill already exists, so there's no replacement bill needed without the three zeros which would need to be released to replace the lopped 25K bill.

Nothing about the lopping makes any sense. Just my view.

I'm seeing the subject matter as calculated obfuscation, for whatever reason

I can't help you in understanding lopping; I have never seen it defined..

There are 25K, 10K and 1K Dinar notes in circulation.

There is no 25 Dinar note in circulation.

Currently, Iraq has the following denominations: 50, 250, 500, 100, 10000 and 25000

There is a lot of info on ReDenomination that would help you understand, if that is your goal.

If you just want to claim it won't LOP, you are in the right place, and I agree with you 100%.

It won't LOP, drifizzle, conlupas, Ork, gesneezle, or zatch.

However, a ReDenomination is what Shabibi has announced will take place, and it is verly likely he believes that he will follow through with what he has been planning for at least the last year.

[jray3775000]

What? Explain that logic? They will not be worse off with a lop. THEY WILL BE EXACTLY THE SAME! A lop raises the value of the dinar but doesn't change the purchasing power. Why is that so hard to understand? You people that don't believe there will be a lop are just delusional. They've told you many times that's exactly what they intend to do but you still deny it. It's happened thousands of times throughout the history of mankind. Yet you'd rather believe that something that has never happened before in history (a sudden overnight RV) is going to occur that is going to turn people into instant millionaires. That's just not rational thinking.

25000 x .00086 = 21.50 (lop) ( rd) 25 x .86 = 21.50 no loss in value - then rv - 25 x 3.22 = 80.50 dinar increased in value

[estewart]

I just determined there is a 10K bill, and a 5 and a 1K bill too.

And that's right as just before said. A lop does not change any value of the currency. A 25000 Dinar become a 25 Dinar, and purchases exactly the same as the 25000 Dinar bill did before the lop. Such as a part of a tank of gas.

[kobuk1]

"As the day grows nearer, the evaluation continues among dinar investors. The left are inconsistent with the history of the lop issue, the right are focused on the balanced thought trail they've been on since day one.The Iraqi's want to be well off, a lop would put them behind, a rv would skyrocket their economy.The gov'ts of the world would be infuriated at a 3 zero lop. The undercover agents of 'lopsters' will not rest til the masses admit a lop, 'misery loves company'....we shall see.." As The Dinar Turns