Bondlady's chat 3 year cbi article August 7, 2011

[blonde_minx]

Bondlady's chat 3 year cbi article August 7, 2011

[campdav] Gulf Daily News - 07 August, 2011 Iraq plans to redenominate its dinar currency by knocking three zeros off the nominal value of bank notes to simplify financial transactions, a senior central bank official said yesterday. Central Bank deputy governor Mudher Kasim said he expected the new currency to be used in the market in three years and it would have no impact on inflation. "This will facilitate the payments system ... instead of carrying a lot of money, we will carry less. This is an important reform," Kasim said.

[bondLady] well if it didnt have a new rate to it then they would have to carry a lot of cash

[bondLady] unlike here in the article where it says.........."This will facilitate the payments system ... instead of carrying a lot of money, we will carry less. This is an important reform," Kasim said.

[bondLady] the only way once the ld's are released for it to make them carry less cash is to rv when they release them

[bondLady] other wise they will carry tons an tons just for a can of coke

[bondLady] and the 3 year thing on it

[bondLady] im thinkin that means they will do this for 3 years before they rv agin

[bondLady] they will keep it like it will be once they release the ld's for 3 years before giving any more changes to the dinar imo unless they got such a unreal amount of money pour in that the imf stepped in an said hey u have got to raise your rates

girlygirl] BondLady - basically we need to wait for release of the coins then?

[bondLady] i feel like the ld's will come 1st gg an possibly 2 coins

[bondLady] i could be wrong

[bondLady] but i think there will be like a 1,5,10,25,50,100 iqd note then a quarter and 50 cent piece or a dime an a nickel

[bondLady] basically like our currency

[bondLady] there tryin to make theres close to ours

[bondLady] i said this earlier

[bondLady] but ill say it 1 more time here

[bondLady] in 2003 they made 14 denominations of the new iqd when they replaced saddam notes

BondLady] so far today the only ones of those 14 released was a 25k,10k,5k,1000, 500 250 and a 50

[bondLady] thats 7 out of the 14 they have already made

[bondLady] so were lookin for a .........

[bondLady] 25,10,5,1, we already have the 50 and 100 notes

[bondLady] so 7+5 =12

[bondLady] leaveing 2

[bondLady] so i feel like thats a quarter an 50 cents

[bondLady] but in iqd not usd

[bondLady] so the newer coins would need to basically be a penny, dime, nickel

[bondLady] in the articles we have seen

[bondLady] it says

[bondLady] the coins was produced in 2004 but it wasnt the right time to bring them out

[bondLady] it wasnt the right time for them to bring out the 50 iqd either but they did

[bondLady] the 50 is only worth what 5 cents?

[bondLady] hope that helps

[cisole]

thanks for the post blonde_minx

[blonde_minx]

your welcome cisole

[20MillionDinar]

There were actually 9 different notes/coins printed and put into circulation. She is forgetting to list the 25 Dinar coin and the 100 Dinar coin. So if 14 were in fact printed/minted then they would have 5 more notes/coins ready to be released.

[abutchbaker]

Go RV

[BETTYBOOP]

SO IS THIS GOOD FOR US? I AM GUESSING BECAUSE I AM NOT THAT FAR INTO THE POLITICS AS SOME OF U GUYS ARE, BUT I AM THINKING IT IS PROMISING

[cajunrescuemedic]

Thanks for the post.

[keylime]

I'm sorry, but is BondLady just pretending to be stupid, or is she actually stupid?

No. First of all, RD means you lose three zeroes and the value increases by 1000 times. 25,000 note becomes 25 note and it's worth exactly the same. EVERYONE knows this. So if the notes they introduce (in an RD you replace ALL the notes) exactly mimic the old notes then at worst they have to carry the EXACT SAME amount of cash. These are facts. Facts that BL is either not aware of or is intentionally ignoring in order to mislead people.

Second of all, since you're replacing ALL the currency, there's no reason you can't ALSO introduce denoms that are higher in value than the current denoms. I.e. a 25,000 dinar note becomes a 25 dinar note (worth the exact same as a 25,000 dinar note), but you can also introduce a 100 dinar note (worth 4x what the old 25,000 dinar note) and/or a 500 dinar note (worth 20x what a 25,000 dinar note is currently worth), etc. You're replacing all the currency, you can do whatever you want with regards to denominations.

These are simple facts. BondLady is telling you there won't be an RD, but her posts indicate she either doesn't even understand what happens in an RD (which 2 minutes worth of wikipedia makes abundantly clear), or she does understand but is lying.

These things are common sense and/or basic definitions, and BL is getting it wrong. Why would you believe her?

Again, this is just ridiculous. If an RV to 1:1 happens, then, obviously, you need lower denominations otherwise you can't get change for your 50 dinar note (now worth 50 USD) when you buy something worth less than 50 USD. But you have the EXACT SAME PROBLEM if you RD by three zeroes. In a 3 zero RD each dinar becomes worth 1000 times what it is now. 1 dinar = 0.86 USD. Your 25,000 note that's worth 21 USD becomes a 25 dinar note that is still worth 21 USD. You have 1/1000 as many dinar, but they're each worth 1000 times as much, so there's no loss or gain in actual value. Again, obviously, you're going to have the exact same problem with making change if your smallest note is one of the new 50 dinar notes (now worth 43 USD).

In an RV you need lower denomination notes. In an RD you also need lower denomination notes, for the exact same reason.

Everyone should actually be OFFENDED that BondLady thinks we're all so stupid we don't understand this.

I appreciate you helping to break it down from a different angle, but you are still only offering your opinion as to what MIGHT happen, just as BondLady is offering hers. What I get is both of you seeing this from two points of view. You just stated yourself "In an RV you need lower denoms..." You just happen to believe in a LOP. Okay. We get it.

What you have not done.... other than call people names and try to speak for everyone else,(I am not OFFENDED by Bondlady's nor your analysis, only the way you present your side as if you are 100% right and everyone else who sees it NO LOP, but an RV when LD's are released are stupid)...again, what you have not done is present a case that absolutely without doubt is based on facts that this cannot happen as many of us hope and even believe which is NO LOP with an RV. You are not the only one who has been studying this investment and after exploring many possibilities I am quite comfortable having come to that conclusion. I happen to disagree with your "opinion". And no matter how much you bash others and post your opinion as if it is the final word it will never change my mind.

Now, What is OFFENSIVE. Giving one's opinion with an arrogant no room for another possibility scenario while bashing and childish name calling anyone who doesn't see it your way. In fact it smells like you have an AGENDA. Which makes me feel even more secure with my view of NO LOP, with a lower denom release and simultaneous RV.

In this world there is room for more than one opinion. You have yours, I have mine, and others have theirs. When all is said and done time will prove who's right. Until then, no one is. How can we be?

It hasn't happened yet.

[DRV1804]

Love it Keylime!! I am also sick of the way GT5 talks to and about people...its childish, and to be honest GT5 if you want your voice to be heard and your opinion to be taken seriously than you need to come at people with respect.....

Edited August 7, 2011 by DRV1804

[BETTYBOOP]

So is this good or bad for us ?

[Dianne]

Thanks for the post Keylime!

[UofIGuy]

I'm sorry, but is BondLady just pretending to be stupid, or is she actually stupid?

Everyone should actually be OFFENDED that BondLady thinks we're all so stupid we don't understand this.

And I am sorry, but why are you so arrogant? When you talk down to people, they tend to shut you off. Your arrogance is not only disheartening, but rather nauseating as you know nothing more than the rest of us. Stop trying to stroke your ego by talking down to people and realize that we are all here for the same thing.

Edited August 7, 2011 by UofIGuy

[lizabeth1]

hope your right..sounds pretty solid...

[easyrider]

I'm sorry, but is BondLady just pretending to be stupid, or is she actually stupid?

No. First of all, RD means you lose three zeroes and the value increases by 1000 times. 25,000 note becomes 25 note and it's worth exactly the same. EVERYONE knows this. So if the notes they introduce (in an RD you replace ALL the notes) exactly mimic the old notes then at worst they have to carry the EXACT SAME amount of cash. These are facts. Facts that BL is either not aware of or is intentionally ignoring in order to mislead people.

Second of all, since you're replacing ALL the currency, there's no reason you can't ALSO introduce denoms that are higher in value than the current denoms. I.e. a 25,000 dinar note becomes a 25 dinar note (worth the exact same as a 25,000 dinar note), but you can also introduce a 100 dinar note (worth 4x what the old 25,000 dinar note) and/or a 500 dinar note (worth 20x what a 25,000 dinar note is currently worth), etc. You're replacing all the currency, you can do whatever you want with regards to denominations.

These are simple facts. BondLady is telling you there won't be an RD, but her posts indicate she either doesn't even understand what happens in an RD (which 2 minutes worth of wikipedia makes abundantly clear), or she does understand but is lying.

These things are common sense and/or basic definitions, and BL is getting it wrong. Why would you believe her?

Again, this is just ridiculous. If an RV to 1:1 happens, then, obviously, you need lower denominations otherwise you can't get change for your 50 dinar note (now worth 50 USD) when you buy something worth less than 50 USD. But you have the EXACT SAME PROBLEM if you RD by three zeroes. In a 3 zero RD each dinar becomes worth 1000 times what it is now. 1 dinar = 0.86 USD. Your 25,000 note that's worth 21 USD becomes a 25 dinar note that is still worth 21 USD. You have 1/1000 as many dinar, but they're each worth 1000 times as much, so there's no loss or gain in actual value. Again, obviously, you're going to have the exact same problem with making change if your smallest note is one of the new 50 dinar notes (now worth 43 USD).

In an RV you need lower denomination notes. In an RD you also need lower denomination notes, for the exact same reason.

Everyone should actually be OFFENDED that BondLady thinks we're all so stupid we don't understand this.

you just an internet hater that will only talk smack online but not in person. You are the type of person that belittles everything anyone does just to benefit your own ego.

[hmmm]

The only thing that throws me off here is she mentions dimes and nickles and wanting to assimilate to our currency. with everyhting going on right now i dont think an gov. will want to imitate the dollar. plus the already operate on dinars and and phils( their small coin currency at least in kuwait. otherwise it makess some sense about as much as anything else on here.

[THINK.....]

Central Bank deputy governor Mudher Kasim said he expected the new currency to be used in the market in three years

[bondLady] and the 3 year thing on it

[bondLady] im thinkin that means they will do this for 3 years before they rv agin

[bondLady] they will keep it like it will be once they release the ld's for 3 years before giving any more changes to the dinar imo unless they got such a unreal amount of money pour in that the imf stepped in an said hey u have got to raise your rates

I'm sorry but I just can't see " im thinkin that means they will do this for 3 years before they rv agin" idea or analogy. In 3 years means IN THREE YEARS! This reminds me of the televangelist, who after reading a passage from the bible says "I think what God meant to say was....." NO NO NO. I think what God said is EXACTLY what he meant to say. I mean if God can't get it right who can?

Now I'm not suggesting for a minute leaders of any kind always say what is true, but to say "What I think they meant to say was...." is just wishful thinking and not in touch with reality.

Central Bank deputy governor Mudher Kasim said he expected the new currency to be used in the market in three years

[bondLady] and the 3 year thing on it

[bondLady] im thinkin that means they will do this for 3 years before they rv agin

[bondLady] they will keep it like it will be once they release the ld's for 3 years before giving any more changes to the dinar imo unless they got such a unreal amount of money pour in that the imf stepped in an said hey u have got to raise your rates

I'm sorry but I just can't see " im thinkin that means they will do this for 3 years before they rv agin" idea or analogy. In 3 years means IN THREE YEARS! This reminds me of the televangelist, who after reading a passage from the bible says "I think what God meant to say was....." NO NO NO. I think what God said is EXACTLY what he meant to say. I mean if God can't get it right who can?

Now I'm not suggesting for a minute leaders of any kind always say what is true, but to say "What I think they meant to say was...." is just wishful thinking and not in touch with reality. I'm thinking they mean what they said.

Central Bank deputy governor Mudher Kasim said he expected the new currency to be used in the market in three years

[bondLady] and the 3 year thing on it

[bondLady] im thinkin that means they will do this for 3 years before they rv agin

[bondLady] they will keep it like it will be once they release the ld's for 3 years before giving any more changes to the dinar imo unless they got such a unreal amount of money pour in that the imf stepped in an said hey u have got to raise your rates

I'm sorry but I just can't see " im thinkin that means they will do this for 3 years before they rv agin" idea or analogy. In 3 years means IN THREE YEARS! This reminds me of the televangelist, who after reading a passage from the bible says "I think what God meant to say was....." NO NO NO. I think what God said is EXACTLY what he meant to say. I mean if God can't get it right who can?

Now I'm not suggesting for a minute leaders of any kind always say what is true, but to say "What I think they meant to say was...." is just wishful thinking and not in touch with reality. I'm thinking they mean what they said.

WOW! Sorry. My connection got a little weird on me.

[cooked]

Hey BL, most of us really appreciate your posts. It is true some may not agree, Keep is one of them, but even Keep is very polite and civil in his defence of his position. He makes very good and well researched comments on his feelings, and even admits there could be a RV without a lop. This a$$ Ho&^ GTwhats his gonads is just a very rude and arrogant _+)(*&^%$#@$%^&*()(*&^%$#@#$%^, (ran out of expletives) idiot that has no class and just wants to bash someones thoughts on an article. If it were to me, he would drop off the face of the earth and go to Oakies site, do not pass go do not collect 2000,000 dinar. WE really enjoy hearing you, so don't let this ^&*(*&^%^&*(*&^%&* dissuade you from postings. As usual you rock.

Too sober to spill his margarite, orders three more rounds, not very happy looking.

[cooked]

Here little piggy piggy

[speculatorsRIDE]

There were actually 9 different notes/coins printed and put into circulation. She is forgetting to list the 25 Dinar coin and the 100 Dinar coin. So if 14 were in fact printed/minted then they would have 5 more notes/coins ready to be released.

I believe BL is correct. The only time the number of denominations is mentioned it says 14 printed not 14 printed and minted. If memory serves me there was no mention of a 20. It did mention 10, 5, 1, 1/2, 1/4 and smaller.

I interpreted this article saying 3 years to mean that they would introduce the new 3 language currency in 3 years. But, that is JMO.

GT5 not sure what makes you think that you can talk to people the way you do. However, I do hope we have a post RV get together and you attend. I believe there are a lot of us who are anxious to meet you in person.

[Rossenbos]

I'm sorry but I just can't see " im thinkin that means they will do this for 3 years before they rv agin" idea or analogy. In 3 years means IN THREE YEARS! This reminds me of the televangelist, who after reading a passage from the bible says "I think what God meant to say was....." NO NO NO. I think what God said is EXACTLY what he meant to say. I mean if God can't get it right who can?

Now I'm not suggesting for a minute leaders of any kind always say what is true, but to say "What I think they meant to say was...." is just wishful thinking and not in touch with reality.

I'm sorry but I just can't see " im thinkin that means they will do this for 3 years before they rv agin" idea or analogy. In 3 years means IN THREE YEARS! This reminds me of the televangelist, who after reading a passage from the bible says "I think what God meant to say was....." NO NO NO. I think what God said is EXACTLY what he meant to say. I mean if God can't get it right who can?

Now I'm not suggesting for a minute leaders of any kind always say what is true, but to say "What I think they meant to say was...." is just wishful thinking and not in touch with reality. I'm thinking they mean what they said.

I'm sorry but I just can't see " im thinkin that means they will do this for 3 years before they rv agin" idea or analogy. In 3 years means IN THREE YEARS! This reminds me of the televangelist, who after reading a passage from the bible says "I think what God meant to say was....." NO NO NO. I think what God said is EXACTLY what he meant to say. I mean if God can't get it right who can?

Now I'm not suggesting for a minute leaders of any kind always say what is true, but to say "What I think they meant to say was...." is just wishful thinking and not in touch with reality. I'm thinking they mean what they said.

WOW! Sorry. My connection got a little weird on me.

So you felt like saying the "three years thing" three times right? To make your point?

[RodandStaff]

WOW! Sorry. My connection got a little weird on me.

Glad you cleared that up, thought I was seeing double, urr.... I mean tripple! That has happened to me, I thought it didn't post so I "add reply" again, and once more for good measure... I think it is a guy thing, ya know... if once is good, twice is great, than three times... oh boy!

[BlueOrchid919]

There were actually 9 different notes/coins printed and put into circulation. She is forgetting to list the 25 Dinar coin and the 100 Dinar coin. So if 14 were in fact printed/minted then they would have 5 more notes/coins ready to be released.

In close to 2 years of searching, I have not found anything in writing to support this statement - 9 different denominations...14 different denominations..... I have read all the Dev Plan docs, budget documents, the UN reports, and just about every news article related to Iraq's economy/currency - dating back as far as 7 years ago. Where can I find this information? In what document can I read it?

Many thanks!

[MrFnHappy]

In close to 2 years of searching, I have not found anything in writing to support this statement - 9 different denominations...14 different denominations..... I have read all the Dev Plan docs, budget documents, the UN reports, and just about every news article related to Iraq's economy/currency - dating back as far as 7 years ago. Where can I find this information? In what document can I read it?

Many thanks!

I believe there are previously printed, but unreleased denoms. I doubt they will ever be issued at this point, since the constitution now stipulates the currency must include the Kurdish language along with arabic and english. Further, I believe they were intended for release but Iraq's inability to get anything done in a timely fashion nixed their release.

The three guests from the Central Bank discussed the bank’s

plan to enhance the Iraqi banking sector and financial markets

throughout 2006. They highlighted a series of steps that have

already been taken, including:

• Establishing the Central Bank’s independence from the

Ministry of Finance

• Training 70% of the bank’s staff on international best

practices

• Printing a series of 14 new Iraqi Dinar notes and coins

http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf

Edited August 8, 2011 by MrFnHappy

[BlueOrchid919]

I believe there are previously printed, but unreleased denoms. I doubt they will ever be issued at this point, since the constitution now stipulates the currency must include the Kurdish language along with arabic and english. Further, I believe they were intended for release but Iraq's inability to get anything done in a timely fashion nixed their release.

Much appreciated! I had not seen that opinion article. You're right that they don't get anything done within any deadlines....

Thank you!

[MrFnHappy]

YW Blue, I've been in this for 7 years, and it feels as if I have read every article and every rumor.