Central Bank of Iraq stresses that the new currency will not affect the financial value of money

[trooper]

Central Bank of Iraq stresses that the new currency will not affect the financial value of money

Sorry if this was posted earlier, Couldn't find it..

08/14/2011 neighbors - Baghdad - East

The Central Bank of Iraq to the new currency that will be to trade after deleting three zeros

Which will not affect the financial value of money. The deputy governor of the Bank the appearance of Mohammed Saleh, said that the process of dispensing with the old currency would be gradual in order to prevent fluctuations in price can affect the exchange rate or the fact SPV, as will be trading the currency pair at the same time until the absorption of the old currency expected to perform this step to solve the problems in the trading bloc committed a result of the magnitude of bulging cash in the Iraqi market. He added that the new currency will be in three languages: Arabic, Kurdish and English.

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.aljeeran.net/&ei=wm5wTbT6M5C3tgelhZz1Dw&sa=X&oi=translate&ct=result&resnum=1&ved=0CCYQ7gEwAA&prev=/search%3Fq%3Daljeeran%26hl%3Den%26client%3Dfirefox-a%26hs%3Df52%26sa%3DG%26rls%3Dorg.mozilla:en-US:official%26channel%3Ds%26biw%3D981%26bih%3D638%26prmd%3Divns

[noco]

Good find Trooper.

[acceb75]

This is a different take on the same information but somehow this sounds more optomistic to me. I have no idea why.

[RodandStaff]

Thanks trooper, I think this is a positive spin on the situation! GO RV Already Baby!!!

[Nelson0528]

The only logical way it can happen without adversely affecting their contracts, the economy, etc.... +1 for Iraq !!!! LOL

[redsand]

Hopefully the value won't stay neutral then.

[Butifldrm]

Here's the economic risk of Neutral.

Term risk neutral Definition: A person who values a certain income the same as an equal amount of income that involves risk or uncertainty. Let's say that you're given two options--(A) a guaranteed $1,000 or ( a 50-50 chance of getting either $500 or $1,500. If you don't really care which option you chose, because both options have the same "expected" values, then you're risk neutral.

http://glossary.econguru.com/economic-term/risk+neutral

[retirementafterrv]

Good Post.

[weneedrv]

can somebody correct me if i am wrong assuming this is a lop? i hope not but if the money retains the same value then that means a 25000 iqd will buy a loaf of bread and the new 25 iqd will also buy the same loaf of bread. if that happens, we lose. we cash in our iqd for an even value minus the exchange fees. once again, i hate to see that happen but it sure reads that way.

[ghostflame]

can somebody correct me if i am wrong assuming this is a lop? i hope not but if the money retains the same value then that means a 25000 iqd will buy a loaf of bread and the new 25 iqd will also buy the same loaf of bread. if that happens, we lose. we cash in our iqd for an even value minus the exchange fees. once again, i hate to see that happen but it sure reads that way.

It seems that you are right. I feel that there is no good news here, except to find a dinar exchange with the lowest fees.

The people at another site seem optimistic, but they are fooling themselves. I have read every document, and the lop is real. Not only real, but time sensitive. That means you will only have a limited amount of time to get rid of your dinars to exchange them for the new ones minus 3 zeros.

[den308]

can somebody correct me if i am wrong assuming this is a lop? i hope not but if the money retains the same value then that means a 25000 iqd will buy a loaf of bread and the new 25 iqd will also buy the same loaf of bread. if that happens, we lose. we cash in our iqd for an even value minus the exchange fees. once again, i hate to see that happen but it sure reads that way.

Stop thinking lop!!!!!!

[ghostflame]

Here's the economic risk of Neutral.

Term risk neutral Definition: A person who values a certain income the same as an equal amount of income that involves risk or uncertainty. Let's say that you're given two options--(A) a guaranteed $1,000 or ( a 50-50 chance of getting either $500 or $1,500. If you don't really care which option you chose, because both options have the same "expected" values, then you're risk neutral.

http://glossary.econguru.com/economic-term/risk+neutral

That depends on how much you have invested. 2000 invested, and yes, I would choose the 1500 option as the best possible loss scenario. They warned you all of a lop on Monday.

The lop was coming. There was no magic pill to cure your problems. And no magic pill to cure the US debt problems. Take your money and use it to short the s&p 500. It's your best chance at winning. Be on the #winning side. Find a good day trader to follow on twitter. Your money will not come as easily as you would have wished.

[Nelson0528]

Okay, here we go again...

RD is an ABSOLUTE requirement; otherwise, they will never be able to raise the value of the IQD (the lowest current note is 50 Dinar). It is the mechanism that remains a mystery. Will it RV first?... Will it LOP?... Who knows???... They have to raise the value; and they have to be able to support daily transactions with appropriate notes and coinage. It all seems rather simple. It is just the anticipation, and the shroud of mystery, that are driving everyone to hysteria... remain calm... all is well... be patient; and utilize your return on investment however you feel best suits your needs. Maybe it will be 30% maybe it will be 3000%. We will have to wait and see... Peace !!!

Edited August 20, 2011 by Nelson0528

[Mr.B.]

Chill out my friends, we all knew the risk going into this investment. Is there a chance for it to LOP....yes, but there is a good chance that it won't. Keep the faith let's not be so quick to give up. I didn't put more than I could afford to lose Don't get me wrong I want to make money off of this investment, but if it goes south I'll just move on to the next investment. Thanks for the post it was a great read.let's go RV......in 2011

Edited August 20, 2011 by Dbose453

[winterset]

Shabibi himself used the word REVALUE in the article a couple days ago. That means no lop! Keep the faith. GO RV!!!!!

[RickOhio]

Anything with Saleh's name on it is smoke and mirrors, as far as I'm concerned.

[amhvl]

What would happen if Iraq announced “We are going to revalue our currency and drop 3 zeros?” There would be a massive run on their currency, thus jeopardizing and/or delaying any revaluation. Relax. Iraq’s public posture suggesting a LOP is prudent and sensible. Screaming RV would costly and stupid. Trust me. Al-Shabibi is anything but stupid. This will happen…and soon. God Bless.

[Quietlearner]

This article was posted last week in a broader spectrum, Check it out on our site, its there as I posted it but I dont have it in me to dig it up again. Understand that the statement "it will not change the value of the Dinar" is correct. Why would it? Several things going on here. First it is imparative that the Dinar continue to remain stable even in the face of Redenomination. If it didnt than a ReValuation would be difficult at best. Its this simple folks. Annoucement of Redenomination and implementation, which is happening now, and then the annoucment of the Revaluation, for some reason folks cant see it. They are going to do both. RV to follow very soon.

Quietlearner

[Carrello]

Stop thinking lop!!!!!!

Thinking? The poster is not thinking!

Shabibi himself used the word REVALUE in the article a couple days ago. That means no lop! Keep the faith. GO RV!!!!!

Med talked about Shabibi stating revalue. I have not found the article yet, and that is not to say that I don't believe the statement. I do.

[hoosier1470]

Shabbi did make that statement in an article, and we are seeing this thing break out! He hates inflation, and therefore knows that he has to do something, and do it fast. I dont belive he will wait until the end of the month. JMO. It will take a little time to get the lower denoms out, so I truely look for him to make a change in the exchange rate prior to the lowers coming out. God Bless each of you!

[BlueOrchid919]

Anything with Saleh's name on it is smoke and mirrors, as far as I'm concerned.

Saleh is the Deputy Governor of the CBI and the official spokesperson. I doubt VERY much he'd be lying to the world on matters concerning the CBI and Iraq's financials. Many like to think he's smoke and mirrors, but other than personal dislike for the person and what he states, is there a valid reason for thinking so? He's pretty high up the food chain....

[acceb75]

Saleh keeps making all of those ridiculous threats about what he's gonna do if the troops stay but other than that he's no worse than the rest of 'em.

[BlueOrchid919]

Saleh keeps making all of those ridiculous threats about what he's gonna do if the troops stay but other than that he's no worse than the rest of 'em.

You sure it's Saleh and not Sadr? Al Sadr is violently against the US, present or otherwise....

[ashtray]

well the facts add up here very well with the new 100,000 note they also say their coming out with .. i guess its a 100,000 note with minus 3 zeros ..

these people got ya guessing .. thats all .. no one can claim any thing as fact

[speculatorsRIDE]

Shabbi did make that statement in an article, and we are seeing this thing break out! He hates inflation, and therefore knows that he has to do something, and do it fast. I dont belive he will wait until the end of the month. JMO. It will take a little time to get the lower denoms out, so I truely look for him to make a change in the exchange rate prior to the lowers coming out. God Bless each of you!

I believe you are right. Shabs has to do something and he needs to do it soon.

Those lower denoms coming out is in fact a RD. Just like the coinage coming out is a RD. Bringing out the 100k and 50k notes would be a RD.

The lower denoms RD would require a RV or there wouldn't be any reason to RD with the lower denoms. Depending on the size of the coinage RD there may be a RV. Small coins will require RV and large coins would not require RV.

100k and 50k notes would not require a RV.

We are waiting to see what the new coins and notes values are and that will tell us if a RV is imminent.

Due to the inflation rates in Iraq we should see something soon, one way or the other.

btw next year when they release the new notes with the 3 languages that are required by their Constitution we may see another RV but that will be another RD for sure.

The above is all fact ashtray. lol

Edited August 21, 2011 by speculatorsRIDE