The abolition of the removal of three zeros from the currency

[Serenity]

DON'T BELIEVE EVERYTHING YOU READ.

RIGHT!!!! They will never spell it out....It's a matter of national security...It's their currency!! It is up to the smart speculator to figure it out....and we are smart speculators........

Edited July 31, 2011 by Serenity

[truthful1]

If this isnt just smoke then its garbage. I highly doubt it will LOP. Dont believe everything you read, especially stuff on here. Try to weed out the crap and stay positive.

I completely understand being positive. Thats great and all. But have you ever invested in currency speculation before, or is this your first time??? How is it garbage, and why do you highly doubt it will lop? A little reasoning behind your enthusiasm would be nice.

Do you doubt this????

1) Iraq is under an Islamic banking system. ( They dont use fractional reserve banking)

2) They have to back every note by foreign reserves, how will they support 50 trillion dollars in M2??

3) Iraq has not monetized their oil or other assets, What will back this large amount of currency?

4) How much oil is Iraq willing to give away to get back there formerly worthless currency, if they do rv??? Remember Iraq has to come up with the money to retrieve these notes.

Those are some reasons you and I should have DOUBT. Now obviously we all want and need a big rv, so be kind.

Unfortunately, people cant ignore the amount of currency in circulation, when determining the value of a currency. .

Edited July 31, 2011 by truthful1

[RV on my mind]

They will NEVER Revalue Trillions of Dinar. I hope I'm wrong, but common sence tells me that I'm right. Just Sayin'

[jg167]

... do we know if China also talked about a RD and did not do so?

I don't recall (or find info on) any thoughts of an RD in China, at least in the last 20-30 years. It seems very likely that you would not want to talk about an upcoming RV since that just invites speculators, maybe on a massive scale. Though since an RD is value neutral you would want to talk about that a lot (as Iraq has been).

China pegs its currency and thus makes RVs pretty frequently (at times essentially letting it float). They have made a move as big as 50% back in Dec of 1993 I think (from 5.75 Renminbi to 8.75 or so per dollar). If Iraq keeps its money supply growth down or even manages to reduce it and can get GDP up by a big percentage (30 or 50 would be huge), then an RV to say 600 or 700 dinars per dollar might be in the cards. Those who bought in at the recent dealer price of 800 or so dinars per dollar ($1200 per !M IQD) could get their money back and maybe make a little profit (that would make me happy). Wealth would be sweet, but with what I know now I'm just looking to avoid loss.

Edited July 31, 2011 by jg167

[Psych]

And confirms the expert’s central bank (economist) that «the application of the new project to raise three zeroes from the Iraqi dinar and the currency exchange, will be according to mechanisms scalable in the form is not felt by the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace it, and it remains only in the possession of the citizens of the trading day , and can make any transactions in both currencies for existing and new, what’s goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar.

Confusing, huh?

I believe they are saying that both new and old notes can be used concomitantly....of course, this could be mistranslated. Anyone speak Arabic?

[Dinar_o'saurs]

SO HERE'S MY FIRST REACTION ON YOUR POST. SINCE THEY POSTED A OLD NOTE, THEN THEY ARE REALLY TRYING TO GET INVESTORS TO BELIEVE THE WORST SIDE OF THINGS. WHEN IN TRUTH IT WILL BE THE OPPOSITE.

+1 for you marie...... why use an old note and an article that is (for us) gloom and doom.

Two wrongs make a right........????

[mariejose]

They will NEVER Revalue Trillions of Dinar. I hope I'm wrong, but common sence tells me that I'm right. Just Sayin'

[/qu

SO YOU JUST SAID OR IMPLIED THAT YOU BELIEVE THEY WILL NEVER RV. THEN WHY ARE U INVESTED IN SOMETHING YOU DON'T BELIEVE WILL HAPPEN.

[FloridaEd]

This is an old Saddam era note. WHO knows what this article means.

[Alex38]

Easy, Easy what he means buy " they can use the same Thousand for a One Dinar" The author has ommited the fact that he would be owed back 999.00 Dinar. Stop and think about this a minute. If they were to LOP and go backwards how many trucks would it take to get to the market and pay for groceries??? The cost of the goods wont LOP so you cant possible come to the conclusion that some how the currency is going to be worth less can you. ? I am an Iraq nation citizen I have been working for 3 months and I have managed to put away 15,000. 00 Dinar, when I got up in the morning it was worth only 15.00 Dinar. Not likely folks. The language barrier and the time of this article are suspect at best. The newshound is a know source for BS. I checked the link but cant convert it. Dont Panic. and What about the NOTHING MEANINGFUL DURING RAMADA. I think Adam is right as rain. Look out for our Sunday dose of Zionist propoganda, seems like I could start a calender from our history of Sunday bad news............

Quietlearner

BRILLIANT + 100 if I could!!!

[FloridaEd]

If you click the link on the original post, the Dow Jones is at 10340.7. THAT was the close on Sept 8,2010. SO.... the currency in the picture is Saddam era, and the story is almost a year old.

[Dinar_o'saurs]

They are educating the Iraqi citizens on what is going to happen, thats why we keep seeing these articles.

This is not smoke........

Truthful1......... IF this is to educate their people and IF this confuses us (using an old Saddam era note along with the corresponding article) I wonder what they (Iraqi's) are thinking right now..........????

Something just doesn't quite pass the smell test.

Thank you Quietlearner and GPC +1's

Edited July 31, 2011 by Dinar_o'saurs

[Serenity]

Sounds like this might hurt a little...

No it doesn't!!!!!!!! Remember, we will be exchanging for dollars....

[dinarck]

Easy, Easy what he means buy " they can use the same Thousand for a One Dinar" The author has ommited the fact that he would be owed back 999.00 Dinar. Stop and think about this a minute. If they were to LOP and go backwards how many trucks would it take to get to the market and pay for groceries??? The cost of the goods wont LOP so you cant possible come to the conclusion that some how the currency is going to be worth less can you. ? I am an Iraq nation citizen I have been working for 3 months and I have managed to put away 15,000. 00 Dinar, when I got up in the morning it was worth only 15.00 Dinar. Not likely folks. The language barrier and the time of this article are suspect at best. The newshound is a know source for BS. I checked the link but cant convert it. Dont Panic. and What about the NOTHING MEANINGFUL DURING RAMADA. I think Adam is right as rain. Look out for our Sunday dose of Zionist propoganda, seems like I could start a calender from our history of Sunday bad news............

Quietlearner

I am sorry but you are mistaken. What the author is saying is true and it is a classic redenomination. The 1000 dinar note and the new 1 note will hold the same value post RD. So if you wanted to buy a soda that cost 1 new dinar or 1000 old dinar you could use either because they have the same value. In other words they will coexsit which is what they have told us a million times.This is nothing new. It was done in Turkey this way as well as Venezuela. Please people read how Venezuela did their RD. All the info you need is in that article. I should have saved it but I didn't. I am sure someone on here still has it and if not I will look it up. These articles are saying exactly what a redenomination is and does. Don't take my word for it. Please read how redenominations work and you will all see for yourselves that is what is going.

[RV on my mind]

I used to believe it would happen. And believe me, I hope it still does, but in all reality it's looking kind of bleak.

[Serenity]

They will NEVER Revalue Trillions of Dinar. I hope I'm wrong, but common sence tells me that I'm right. Just Sayin'

As the three zero notes are pulled out of circulation, it will turn trillions into billions....They WILL revalue the billions.

[RV on my mind]

They will revalue the billions but when they do my 1,000,000 dinar will only be worth 1,000 dinar after the "000" is dropped. So if they revalue at lets say 3.22 my 1,000,000 will only be worth $3,220.00 USD. Please prove me wrong, I really want to be wrong.

[dinarck]

As the three zero notes are pulled out of circulation, it will turn trillions into billions....They WILL revalue the billions.

How? How will they pull them from circulation? They would have to exchange them for something. Are you going to turn yours in? I know Im not and we as speculators hold trillions alone.

They will revalue the billions but when they do my 1,000,000 dinar will only be worth 1,000 dinar after the "000" is dropped. So if they revalue at lets say 3.22 my 1,000,000 will only be worth $3,220.00 USD. Please prove me wrong, I really want to be wrong.

If they go through with the RD then you are not wrong. I want to be wrong too. Badly.

[zigmeister]

If you click the link on the original post, the Dow Jones is at 10340.7. THAT was the close on Sept 8,2010. SO.... the currency in the picture is Saddam era, and the story is almost a year old.

Good find Sherlock!

[Serenity]

The three zeros will be removed from the value, not the notes.....The three zero notes will be physically pulled out of circulation....We are looking at the contraction of value ...1,000 =1 equal value...That is increased buying power for the Iraqi people....For us, we are exchanging into dollars, the value of the every 1 dinar for every dinar we hold....And yes, you are wrong!!

[dinarck]

The three zeros will be removed from the value, not the notes.....The three zero notes will be physically pulled out of circulation....We are looking at the contraction of value ...1,000 =1 equal value...That is increased buying power for the Iraqi people....For us, we are exchanging into dollars, the value of the every 1 dinar for every dinar we hold....And yes, you are wrong!!

Haha... OK

[desimo]

This is why these penheads remind me of a church board. The prepare to make a plan for the presentation of the potential to possibly consider.......JUST DO IT!

[Serenity]

"

"How? How will they pull them from circulation? They would have to exchange them for something. Are you going to turn yours in? I know Im not and we as speculators hold trillions alone". Look at it this way, they will force us to exchange into our respective currencies by raising the value. .

[RV on my mind]

What you have written does not prove anything to me. Again, I hope I'm wrong.

[Alex38]

So someone in Iraq that's been working their ARSE off and managed to save 100,000 dinar will now only have 100 dinar? Living in what could possibly be the wealthiest country in the world? Where does that fit? Hahahahahaha! It doesn't.

GOOOOOO RV!!!!!!!!!!!!!

[RV on my mind]

The 100 Dinar would have the EXACT same purchasing power as the 100,000 Dinar. In other words... A case of Bud Light that normally would cost 100,000 dinar can now be bought for 100 Dinar. Think about it, it's really not that hard to figure out.