raise zeros from dinar and currency exchange

[Darin]

They stated they will be introducing coins EQUIVALENT to the 500 and 1000 current dinars. By removing 3 zeros, the new coins will be 1 new dinar (=1000 old) and lower: .50 (=500 old), .25, .10, etc.

They are not leaving ANY old notes. They will ALL be replaced with new currency and coins at an exchange of 1000:1.

Most articles are direct statements from the CBI given to the media.

If you search this board, you will see several articles stating the 3 year time frame.

The draft proposal has not been released for public viewing. They have stated it is ready to submit to Council for review and approval. We will learn more in the weeks to come.

"....pretty much...." usually means close to but not identical. If I had meant to say exactly, I would have stated my comment in that manner.

Most recent articles DO say pretty much the same thing. Don't read into them more than is there.

When your speaking of the coins being equivalent, how come we can't assume they're using the same process explaining the 25 / 25,000 notes. Stating the 25 note will buy what the 25,000 "used" to buy??

Seems like a pretty good way to explain something, in my opinion.

Most articles are also opinions with media interpretation spins. And most are quotes from Saleh, which many here would likely argue that this guy is some what of a "liar."

A 3-year time frame, but they have been vague. They don't clearly say, 3 years to exchange, 3 years for foreign notes to be exchanged in, etc. etc. They just say that the overall plan will roughly take 3 years.

Since the proposal draft is not available to the public eye, one would have to wonder.. A straight up R/D, you think that type of informaiton could easily be released. One has to wonder, maybe there are details in the proposal that are confidential.

As for many articles being somewhat similar... I don't take them too seriously. They've been around for quite some time & they seem to come up everyday..

I do however view them looking for certain information:

A clear statement informing us that they will run two separate exchange rates. (i.e., 1170 & 1.17 / $0.00086 & $0.86)

A new currency destination code. We know this as IQD, but, an example of a new code would be NID.

Specifics on the 000s eventually becoming invalid... (Meaning, to exchange by this date..)

[Dalite]

Your statement implies that a LOP/Redenomination has officially happened, has it?

The intentions of the CBI have been announced; on a regular basis, as far back as 2007.

The plan to RD was submitted to Maliki in June, and apparently was rejected.

I have no proof it was rejected, other than the talk of introducing coin, and then talk of a plan to be again presented to Maliki (thought to be a revised plan with coins).

Many are prepared to accept RD, and move on.

Others just know it will RV, no matter what the CBI plans are.

We should all have a much better idea by the end of the year...

With any luck at all, the new currency will be released by June of 2012.

At that time, everyone will know for sure.

In the meantime, anything could happen........

A RV would be good. Maybe the numbers published by the CBI and IMF are all Smoke and Mirrors.

If they are, what country would dare invest in a unstable nation that had to lie to the world to attain favor?

That is the question I ask myself and others whenever I see the claim that the CBI is publishing incorrect data to the world's population, all the world's financial organizations and all potential industry considering investing in Iraq.

I like to consider both sides of the coin, but that lying to the world does not seem, in any way, beneficial to Iraq's future..

[jg167]

A RV would be good. Maybe the numbers published by the CBI and IMF are all Smoke and Mirrors.

If they are, what country would dare invest in a unstable nation that had to lie to the world to attain favor?

That is the question I ask myself and others whenever I see the claim that the CBI is publishing incorrect data to the world's population, all the world's financial organizations and all potential industry considering investing in Iraq.

I like to consider both sides of the coin, but that lying to the world does not seem, in any way, beneficial to Iraq's future..

I agree that the CBI's numbers are likely to be correct. They have nothing to gain and a lot to lose by having these be false.

I'm just hoping that they RV by enough so I can make back my money maybe plus a small profit given the dealer spread. Any country that pegs has to RV now and then, so as Iraq's GDP goes up in the coming year, maybe a small RV is in line. This would also bring in some of the dinars floating out in the world which would slightly lower the costs of an RD (less notes to print) and help get Iraq's currency under better control (weed out some speculators). So maybe, but only maybe.... oh well.

[sportfisher]

The intentions of the CBI have been announced; on a regular basis, as far back as 2007.

The plan to RD was submitted to Maliki in June, and apparently was rejected.

I have no proof it was rejected, other than the talk of introducing coin, and then talk of a plan to be again presented to Maliki (thought to be a revised plan with coins).

Many are prepared to accept RD, and move on.

Others just know it will RV, no matter what the CBI plans are.

We should all have a much better idea by the end of the year...

With any luck at all, the new currency will be released by June of 2012.

At that time, everyone will know for sure.

In the meantime, anything could happen........

A RV would be good. Maybe the numbers published by the CBI and IMF are all Smoke and Mirrors.

If they are, what country would dare invest in a unstable nation that had to lie to the world to attain favor?

That is the question I ask myself and others whenever I see the claim that the CBI is publishing incorrect data to the world's population, all the world's financial organizations and all potential industry considering investing in Iraq.

I like to consider both sides of the coin, but that lying to the world does not seem, in any way, beneficial to Iraq's future..

thank you for your input.

I know all the various possibilities of this speculation.

I assume you are answering for ghostflame..............no, nothing official yet.

Edited August 15, 2011 by sportfisher

[Dalite]

I agree that the CBI's numbers are likely to be correct. They have nothing to gain and a lot to lose by having these be false.

I'm just hoping that they RV by enough so I can make back my money maybe plus a small profit given the dealer spread. Any country that pegs has to RV now and then, so as Iraq's GDP goes up in the coming year, maybe a small RV is in line. This would also bring in some of the dinars floating out in the world which would slightly lower the costs of an RD (less notes to print) and help get Iraq's currency under better control (weed out some speculators). So maybe, but only maybe.... oh well.

I hope for the same.

I think there is an outside chance that there will be a lot of resistance to a RD due to mistrust and lack of education.

This could trigger a small RV, and a decision to postpone dealing with the past inflation until there is more trust in the citizenship and the education system is back on the mend.

That is my hope for a plan b, or c.

[estewart]

Here is a question dug into my mind which I just can't ignore or extract.

Has the Bank of Iraq or the government ever said a single word about an RV at any time in the past?

I know they talk about currency stability a lot. And RDing as well. And they talk about the three zeros, too. Also a lot about a new currency. But, for the life of me I can't recall seeing a single word about an RV, either for or against. So how is it some people boldly declare that an RV will occur? Where do they get this understanding? The information. The knowledge. Explain that?

[Dalite]

Here is a question dug into my mind which I just can't ignore or extract.

Has the Bank of Iraq or the government ever said a single word about an RV at any time in the past?

I know they talk about currency stability a lot. And RDing as well. And they talk about the three zeros, too. Also a lot about a new currency. But, for the life of me I can't recall seeing a single word about an RV, either for or against. So how is it some people boldly declare that an RV will occur? Where do they get this understanding? The information. The knowledge. Explain that?

Some of the articles from 2010 called the plan to ReDenominate a revaluation.

The Pumpers and gurus are the ones that created the illusion of the massive revaluation.

The dinar is a legitimate currency; owning it isn't a scam.

However, the way it has been promoted and the daily lies; that is why it is thought to be a scam..

[zigmeister]

Some of the articles from 2010 called the plan to ReDenominate a revaluation.

The Pumpers and gurus are the ones that created the illusion of the massive revaluation.

The dinar is a legitimate currency; owning it isn't a scam.

However, the way it has been promoted and the daily lies; that is why it is thought to be a scam..

It isn't a scam, it isn't a scam, it isn't a scam.....I have to repeat that often to myself as I look at my dinar. Good post dalite, but I can't say you made my day.

[estewart]

Some of the articles from 2010 called the plan to ReDenominate a revaluation.

The Pumpers and gurus are the ones that created the illusion of the massive revaluation.

The dinar is a legitimate currency; owning it isn't a scam.

However, the way it has been promoted and the daily lies; that is why it is thought to be a scam..

Yeah, I can plainly see that the Iraqi Dinar is not a scam but real money. And I like that fact. Though it goes completely against the Sovereign Society's view. The other wise highly respectable organization emphatically claims the Dinar is a scam.

And, more, I can easily see that the Dinar's value will very likely rise. . . over time, and so I look at it as a long term investment, whereas holding USDs definitely is not.

However, a prospecting time when the 25K bills will no longer be worth anything makes the idea of what I'm holding to be a long term investment not all that sound. That's the main risk, as I see it. Having held Dinars becoming worthless. BUT if I can exchange my holdings to new 25 Dinar bills when and if they are released I will be exceedingly happy. In fact, I would likely then feel like buying more of those, and then just waiting out the rise while watching the USD plunge, crash and burn.

That's the way I look at the game, anyway.

But there is an ongoing annoyance. It's like there's a new breed of pumpers which are the main pumpers these days, and these are the plethora of peeps the old pumpers have pumped. The new guys have been infected and their infection strives to spread the infection. ("Go RV!") And there's no antidote. Reality and supportive Intel phases them not at all.

[Alex38]

1 to 1 or higher.

[estewart]

1 to 1 or higher.

Cool!

Wouldn't that be incredible?

[Darin]

Some of the articles from 2010 called the plan to ReDenominate a revaluation.

The Pumpers and gurus are the ones that created the illusion of the massive revaluation.

The dinar is a legitimate currency; owning it isn't a scam.

However, the way it has been promoted and the daily lies; that is why it is thought to be a scam..

Pumpers pump to sell you services/goods. Whether it is site membership or to receive kick-backs from dinar sales, they have reason(s) to be overly excited with optimism.

Which their greed likely turns their optimistic outlook to straight up lies to receive more funds.

Ignore rates/dates - and maybe avoid spending money on anything until post R/V (or R/D, which ever occurs).

It is likely because of pumpers and other scam artists, investing into the IQD has become a scam.

Also, it is overly priced by the dealers (No doubt about that).

[estewart]

I'm inclined to think it is a really bad to buy.

[BlueOrchid919]

The only thing that is a scam is the multi-year hype of the IQD raising in value 375,000% overnight. The pumping stations worked over time....

I fell for it.....now I've picked myself up....

[Darin]

The only thing that is a scam is the multi-year hype of the IQD raising in value 375,000% overnight. The pumping stations worked over time....

I fell for it.....now I've picked myself up....

Actually, I've noticed a hype with doom & gloom to follow. (Pumpers & Dumpers)

Sometimes, I almost think the dumpers are paid to an extent. (Recycling of IQD to be sold back and sold again)

Could easily be possible...

I read information that pertains to the IQD. I try to get the best understanding of the big picture. I follow a lot of the removal of the 3 zeros articles as I am looking for certain information to finally be displayed. Until than, my opinion normally goes unchanged.

No pumper or dumper will likely change it... Unless irrefutable evidence is presented.

[BlueOrchid919]

Actually, I've noticed a hype with doom & gloom to follow. (Pumpers & Dumpers)

Sometimes, I almost think the dumpers are paid to an extent. (Recycling of IQD to be sold back and sold again)

Could easily be possible...

I read information that pertains to the IQD. I try to get the best understanding of the big picture. I follow a lot of the removal of the 3 zeros articles as I am looking for certain information to finally be displayed. Until than, my opinion normally goes unchanged.

No pumper or dumper will likely change it... Unless irrefutable evidence is presented.

I certainly have no intentions of 'dumping'. I have spent the last 2 weeks though thoroughly studying the redenomination process of 6 different countries. I am aware that Iraq has intentions of doing the same. So now I wait to learn more as they release more news articles. In the meantime, I no longer believe in the guruville hype, I keep my dinars in my safe, I read the news and reports, and keep up with opinions here in DV. The only thing that has changed for me is coming to my senses and realistically anticipating the potential for a 300% return.

[Darin]

I certainly have no intentions of 'dumping'. I have spent the last 2 weeks though thoroughly studying the redenomination process of 6 different countries. I am aware that Iraq has intentions of doing the same. So now I wait to learn more as they release more news articles. In the meantime, I no longer believe in the guruville hype, I keep my dinars in my safe, I read the news and reports, and keep up with opinions here in DV. The only thing that has changed for me is coming to my senses and realistically anticipating the potential for a 300% return.

Look to find out what sort of "obvious" indicators they maybe displayed upon their articles. Also, reference the articles prior to the official document being released.

See how each country compares or is different

What I look for:

A new currency code destination. I.e., like NID (New Iraqi Dinar)

Mention of two separate exchange rates

And a time-frame or expiration date for old notes.

Certain things hint to it, but do not clarify clearly.

But, to argue against that, is because an official plan has not been approved. If they claim their plan has been passed by the parliament and we do not see the details... I will question, okay that is odd. Why would they not release full information regarding the R/D LOP.....

Time will tell in this...

I believe they have the non-liquid assets available to back a re-value (Not in terms of $3..++) But to increase the exchange rate....

[AK47]

Seriously? Again? Are we really hurting that bad for news?

[HopefulTxn]

Those were my words, I wasn't attributing a quote to Bush. Rumsfeld DID say he could not imagine it costing more that $50 Billion, so that is not more than a few days (or weeks maybe) of expense. We had no exit plan, or occupation plan, it was supposed to be in and out in a very short time. Is that not abundantly clear in hindsight? Watch the video on this page (it doesn't have the exact quote I was thinking of by Rumsfeld, but it does have a very similar one) http://www.leadingtowar.com/war_rosecolored.php#as1

I think this is the interview with Rumsfield you were referring to:

Q: Mr. Secretary, on Iraq, how much money do you think the Department of Defense would need to pay for a war with Iraq?

Rumsfeld: Well, the Office of Management and Budget, has come up come up with a number that's something under $50 billion for the cost. How much of that would be the U.S. burden, and how much would be other countries, is an open question. I think the way to put it into perspective is that the estimates as to what September 11th cost the United States of America ranges high up into the hundreds of billions of dollars. Now, another event in the United States that was like September 11th, and which cost thousands of lives, but one that involved a -- for example, a biological weapon, would be -- have a cost in human life, as well as in billions, hundreds of billions of dollars, that would be vastly greater.

http://www.defense.gov/transcripts/transcript.aspx?transcriptid=1322

[estewart]

Actually, I've noticed a hype with doom & gloom to follow. (Pumpers & Dumpers)

Sometimes, I almost think the dumpers are paid to an extent. (Recycling of IQD to be sold back and sold again)

Could easily be possible...

I read information that pertains to the IQD. I try to get the best understanding of the big picture. I follow a lot of the removal of the 3 zeros articles as I am looking for certain information to finally be displayed. Until than, my opinion normally goes unchanged.

No pumper or dumper will likely change it... Unless irrefutable evidence is presented.

I hadn't considered how creative recycling could be going on. That makes for a lot of sense. Saves on costs of bringing in new Dinars, too. And what bills come in as a result of times of dumping, for the most part, prolly still look fresh, for having been taken good care of, so then can be resold as "undistributed."

[estewart]

I think this is the interview with Rumsfield you were referring to:

Q: Mr. Secretary, on Iraq, how much money do you think the Department of Defense would need to pay for a war with Iraq?

Rumsfeld: Well, the Office of Management and Budget, has come up come up with a number that's something under $50 billion for the cost. How much of that would be the U.S. burden, and how much would be other countries, is an open question. I think the way to put it into perspective is that the estimates as to what September 11th cost the United States of America ranges high up into the hundreds of billions of dollars. Now, another event in the United States that was like September 11th, and which cost thousands of lives, but one that involved a -- for example, a biological weapon, would be -- have a cost in human life, as well as in billions, hundreds of billions of dollars, that would be vastly greater.

http://www.defense.g...anscriptid=1322

Totally surrealistic and fascinating page.

[estewart]

I certainly have no intentions of 'dumping'. I have spent the last 2 weeks though thoroughly studying the redenomination process of 6 different countries. I am aware that Iraq has intentions of doing the same. So now I wait to learn more as they release more news articles. In the meantime, I no longer believe in the guruville hype, I keep my dinars in my safe, I read the news and reports, and keep up with opinions here in DV. The only thing that has changed for me is coming to my senses and realistically anticipating the potential for a 300% return.

I think there is a lot of peeps now on the edge of coming to their senses. But there are others on the verge of seriously lashing out in defense of their beliefs, as they have been methodically unquestioningly trained to do all their lives. "You got to believe!" as if that action was actually dynamically effectual toward a given result. But, on the other hand, daring to open a Doorway of Possible Great Disappointment in the Mind is in no way an easy thing to do.

I ain't dumping, either. No way. This is one of the more interesting games available to play. Though, if I had what it takes, I'd be in the Silver one.

You say, "The only thing that has changed for me is coming to my senses and realistically anticipating the potential for a 300% return." But there will be a 295% return, right?

[k98nights]

If you don't believe in the investment, then why do you still own dinar (or do you?) and why even come on a dinar site at all? Nothing like having a newly converted atheist in the bible study... lol

[estewart]

If you don't believe in the investment, then why do you still own dinar (or do you?) and why even come on a dinar site at all? Nothing like having a newly converted atheist in the bible study... lol

Big difference between a Get Rich Quick mentality and the Long Term Investment kind. The latter usually understands the former well, but the former generally appreciates the latter not at all. No clue!

The reason we are mainly here is for the good Intel that comes up from time to time. We're very hungry for that.

As for my not believing in my investment, some years ago I realized that holding beliefs held one back from gaining true knowledge about a given situation. Keeps one stupid. So I dumped all my beliefs. That includes, disbelief.

Me? An atheist? I think not. I am very hard at work developing a series of new books of the most advanced metaphysics kind, relative to alternate states of consciousness and existence. It's time to sweep aside what the last four thousand years of Spiritual Darkness, intentionally instituted ignorance and Blind Beliefs installed. No, make that six. I am saying, it is time to wake up, or soon will be.

You asked some very pointed personal questions. Did I answer them?

[sportfisher]

If you don't believe in the investment, then why do you still own dinar (or do you?) and why even come on a dinar site at all? Nothing like having a newly converted atheist in the bible study... lol