Can any1 answer these questions?

[Mazzz27]

u.s. dollar bill**

Edited August 31, 2011 by Mazzz27

[SurfingTheDinarWave]

one question...is the 1000 dollar bill still valid or not?? there ya go

ding....ding....ding!!

Someone is paying attention and doesn't use hypothetical to back up their statements...or take facts someone posts and try to turn the words around of the facts around and then accuse someone of "Truncation" when what they themselves have said is a blatant lie and fraud!!

Actually the $10,000 USD notes are still valid and worth yep you guessed it $10,000 USD when exchanged, an we rv'd and rd'd countless times, it all depends on how you do it, Iraq can learn from the best or be like the rest i.e. Turkey, Brazil, & Mexico...can we say EPIC FAILURE!!

[highjumper]

I don't believe that is true. That is a theory of Breitling's that I do not subscribe to. Think about it... Do you really think the US Treasury is sitting on trillion's of just of lower denoms? In my opinion if you have the money to buy lower denoms, then go for it... its just one way of hedging the bet on your investment.

I am a newbie, and want to know what the lower denoms are, and are there any 1's 5's 10's or 20's?

[lightfighter]

He never said anything like that? Strange, I found this on his blog site:

1. I usually let people who have a argument on the currency will some how lop, and lose value, when they are done with the sermon of un-enlightenment, I calmly tell them well if you think they are going to lop the three zeros then just buy the lower denoms with 1-2 zeros, it gets them every time. They just laugh and look at me and ask is it that easy? I tell them yes it is that easy. Every person I have talked to reporters and all who was hell bent on the LOP talk I have talked them into buying Dinar. So if you’re a doubter on the three zeros then just avoid the whole thing and buy the lowers

So since it is something that Breitling has stated, would that make him a liar or not too bright, IYO?

HAHAHAHA!!! The TRUFF will set you free, and make some look like an @zz

Good on ya Hopeful!

[lightfighter]

I am a newbie, and want to know what the lower denoms are, and are there any 1's 5's 10's or 20's?

My understanding, highjumper, is there are 250 notes and up as of now .COULD BE WRONG. But the ones you listed are the ones we are eagerly awaiting . The onset of them would mean something has happened in value, good or bad IMO

[lightfighter]

Greetings~

I'm a TV news journalist just starting to research a story about the revaluation of Iraqi dinars. I'd love to speak to some people who have already bought dinars to get some insight on how this all works! If you'd be willing to share your story and information on dinars with me please e-mail me at: mramsey@hd.net.

Many thanks.

Would appreciate you finding another topic to study.. I feel you would be throwing the proverbial wrench in my/our investment. If you have the means, why not speak about the corruption in office and leave the dinar alone. Seems if you have the ability to convey a broadcasted message, the government screwing us is more pertinent.

[estewart]

Since you folks who seem to have all the answers on lop and re-denomination; I have a couple questions if you can answer:

If they are going to lop the 3 0's then how do you explain the articles that state they will introduce a 100,000 dinar note?

and explain how my 25,000 note will be worth the same as my 25 dinar coins when they have totally different values right now?

your statements would be that my 25,000 dinar would lop the 3 0's and then have a value of 25 dinar well then what would my 25 dinar coin be worth?

I have been through this situation when in Turkey which is totally different turkey introduced a totally different currency and set exchange values to each one individually. Iraq has stated that both currencies would have the same exchange value so the 1 Dinar and the 1000 Dinar would be equal in value after lop and they are both worth say hypothetical value of $3 equally makes sense how?

1 does not equal 1000 no matter how you try to explain yourself unless they do the same as Turkey and assign 2 values.

Oh and when and where did they say they would assign 2 values one for each currency, prove it with a link please?

Pretty simple. The release of the 100K note was quickly cancelled. The proposal was withdrawn, made null and void. History. Done and did with. Over and out. Pish.

Pretty simple. There will be two different currencies. In one there will be a 25 Dinar and no 25K Dinar.

In the other currency, there is a 25K note and no 25 Dinar not.

The 25 Dinar note and the 25K note will buy the same stuff, up to the point the 25K note becomes worthless.

Would appreciate you finding another topic to study.. I feel you would be throwing the proverbial wrench in my/our investment. If you have the means, why not speak about the corruption in office and leave the dinar alone. Seems if you have the ability to convey a broadcasted message, the government screwing us is more pertinent.

I second that. If you need an idea for a story, Sir, how about looking into the legitimacy of the President's holding his Presidency? I would think that could be interesting. . . up to the point your investigation gets blocked.

[SurfingTheDinarWave]

Pretty simple. The release of the 100K note was quickly cancelled. The proposal was withdrawn, made null and void. History. Done and did with. Over and out. Pish.

Pretty simple. There will be two different currencies. In one there will be a 25 Dinar and no 25K Dinar.

In the other currency, there is a 25K note and no 25 Dinar not.

The 25 Dinar note and the 25K note will buy the same stuff, up to the point the 25K note becomes worthless.

what you just described is a lop theory, and your so far off it's funny, basically not one lop theory has any proof never has never will even if you use the example of Turkey your hanging yourself since they were an utter failure and Iraq we know will not fail...the US is the only example that holds truth to it and still created a strong currency with longevity, they pulled the 1000 note 5000 note and 10000 note gave you the equivalent in smaller notes and destroyed the other to strengthen the currency, it's simple monetary policy should you chose to read it here's a good link for a good education for you http://www.bankofengland.co.uk/education/ccbs/ls/index.htm

or you can go to any of the US Federal Reserve sites and educate yourself also the US Treasury site as well!

[Dalite]

what you just described is a lop theory, and your so far off it's funny, basically not one lop theory has any proof never has never will even if you use the example of Turkey your hanging yourself since they were an utter failure and Iraq we know will not fail...the US is the only example that holds truth to it and still created a strong currency with longevity, they pulled the 1000 note 5000 note and 10000 note gave you the equivalent in smaller notes and destroyed the other to strengthen the currency, it's simple monetary policy should you chose to read it here's a good link for a good education for you http://www.bankofengland.co.uk/education/ccbs/ls/index.htm

or you can go to any of the US Federal Reserve sites and educate yourself also the US Treasury site as well!

Exactly how was Turkey an utter failure?

What Iraq does, or Turjey did has nothing whatsoever tp do with the US still honoring all of it's past currency.

Whoever has been feeding you this nonsense is trying to sell you something.

What are they selling that is so good as to cause you to create such embarrassment for yourself?

Who told you Turkey was an utter failure?

Who told you that the fact the US has never added zeros to it's currency to off set hyper inflation has anything in common with Iraq, who did add zeros to their currency to Offset hyperinflation.

Someone has been feeding you mushroom food.

Who is it?

The DV community really would like to know who has fed you these lies, so we can determine what it is that they don't want you to understand.

Who has been lying to you, or did you come up with these gross misconceptions on your own?

Why would you want folks to believe that Iraq is planning to treat all of their currency as notes designed for inter bank transfer?

These are the questions you may consider answering for yourself, prior to spewing the stuff you just dumped on the world; which not only has no basis in truth, and further, seem to be agenda driven..

[SurfingTheDinarWave]

Exactly how was Turkey an utter failure?

What Iraq does, or Turjey did has nothing whatsoever tp do with the US still honoring all of it's past currency.

Whoever has been feeding you this nonsense is trying to sell you something.

What are they selling that is so good as to cause you to create such embarrassment for yourself?

Who told you Turkey was an utter failure?

Who told you that the fact the US has never added zeros to it's currency to off set hyper inflation has anything in common with Iraq, who did add zeros to their currency to Offset hyperinflation.

Someone has been feeding you mushroom food.

Who is it?

The DV community really would like to know who has fed you these lies, so we can determine what it is that they don't want you to understand.

Who has been lying to you, or did you come up with these gross misconceptions on your own?

Why would you want folks to believe that Iraq is planning to treat all of their currency as notes designed for inter bank transfer?

These are the questions you may consider answering for yourself, prior to spewing the stuff you just dumped on the world; which not only has no basis in truth, and further, seem to be agenda driven..

Turkey told us all fool, they have had to rv again and again, and by the way Turkey had 9 quadrillion notes with 75 million people inflation of 100,000% and produced the amount of oil in a year what Iraq has already produced in August alone do the math man who feeds you this stuff none of what I said is a misconception look it up it's all verifiable, your so good at calling people out but you can't figure out the things that make sense with the numbers.

Iraq has 30 million people 30 trillion notes with 7.1% inflation and puts out 2 million barrels of oil a day, not to mention what none of us know the results of a geological and geothermal survey with 7 years of research. They will use the large notes for interbank transfer and destroy 1/3 of the printed supply after taking them in it will cover the strength of the dinar RV.

Like I said I gave you a link to educate yourself, go do it, stop spewing your garbage on the world and trying to come at me with questions you can answer yourself with a little effort. Besides how much did you offer other than questions who are you to question my knowledge and research when I laid it out for you, take your misguided information away because you have nthing to back up what you are saying yet I did and continue too over and over!!

[Dalite]

Keep drinking the Kool Aid my friend.

Someday you will understand the truth...

How many times did Turkey RV?

What was Turkey's inflation level when they RVed?

Actually, Turkey increased the value of their currency by a RD, in 2005, and it is still successful today.

Their inflation was highest in 1980 (110%) and 1994 (106%)

This is around 990,000% percent less than the forum facts you are quoting...

Page 4

How much future value is increased with each barrel of oil that is removed from the ground, and reserves?

And please help us all out with the comparison to large US notes created on purpose, and retaining their value; as opposed to Iraq adding zeros to offset hyperinflation?

Try again.

Turkey told us all fool, they have had to rv again and again, and by the way Turkey had 9 quadrillion notes with 75 million people inflation of 100,000% and produced the amount of oil in a year what Iraq has already produced in August alone do the math man who feeds you this stuff none of what I said is a misconception look it up it's all verifiable, your so good at calling people out but you can't figure out the things that make sense with the numbers.

Iraq has 30 million people 30 trillion notes with 7.1% inflation and puts out 2 million barrels of oil a day, not to mention what none of us know the results of a geological and geothermal survey with 7 years of research. They will use the large notes for interbank transfer and destroy 1/3 of the printed supply after taking them in it will cover the strength of the dinar RV.

Like I said I gave you a link to educate yourself, go do it, stop spewing your garbage on the world and trying to come at me with questions you can answer yourself with a little effort. Besides how much did you offer other than questions who are you to question my knowledge and research when I laid it out for you, take your misguided information away because you have nthing to back up what you are saying yet I did and continue too over and over!!

[SurfingTheDinarWave]

Keep drinking the Kool Aid my friend.

Someday you will understand the truth...

How many times did Turkey RV?

What was Turkey's inflation level when they RVed?

Actually, Turkey increased the value of their currency by a RD, in 2005, and it is still successful today.

Their inflation was highest in 1980 (110%) and 1994 (106%)

This is around 990,000% percent less than the forum facts you are quoting...

Page 4

How much future value is increased with each barrel of oil that is removed from the ground, and reserves?

And please help us all out with the comparison to large US notes created on purpose, and retaining their value; as opposed to Iraq adding zeros to offset hyperinflation?

Try again.

Dude your clueless, when I was station in Turkey in 1998-2000 the rate of exchange started at 250,000 lira - 1 dollar when I left it was 395,000 lira - 1 dollar and climbing. this would make their true inflation rate in the 100,000's percentile with 9 quadrillion notes in circulation, so since I was actually there and know what was going on and you were sitting around home in the US you are clueless. Also, if you go read the link I provided you instead of regurgitating your worthless nonsense all of the world making your carbon footprint ever expanding and absolutely wrong you will see the complete evaluation of Turkey and what they did in the report, Link to Education

Iraq didn't add zero's to reduce hyper-inflation they already had large denominations Saddam's money which is now worthless was printed by him to cause hyper-inflation, he could have kept it the way it was and used the money he already had and kept control of it but he needed more so he could buy WMD's with it cause they were getting harder to get and more expensive.

Therefore the IMF and the US created a much lower artificially inflated value to the dinar and then they wanted to replace the notes without Saddams picture so the US paid to print them new currency with the same note face values, Shabibi then controlled inflation and stabilized the economy with his monetary policy and the dinar rose in value 300% to where it is right now. Shabibi has kept inflation under control and interest rates stable for 5 years so it's time to RV.

I look at our profile and see all your friends are all lopsters who will argue with a wall until they are blue in the face or until the wall gives up and begins to decay away. You and Your friends problem is you all have to be right all the time and you are blocked from growth because of it, so when you give in, then and only then will you understand and be receptive to knowing the truth, learning, and growing!

It was funny cause there was CC the other night with some Lop guru's on it and a very knowledgeable woman came on to face the men they asked her to speak up cause she was so knowledgeable about monetary policy and inflation, so she did and as she began to knock all of the theories of lop out of the park the lopsters started scrambling to fire questions at her to try to derail her, because she was basically telling them their theories have no proof and can't be determined to work, with every example they could find and throw at her they got more and more frantic and discredited knowing their followers would be done listening to them after this slaughtering. She annihilated everything the threw at her with confidence, poise, and factual provable knowledge, which in reality is everything a lopster lacks in their theories. they may provide one college students study and put up the link to it but it is what it is a study written by a college student for an economics theory class!

I backed mine up with actual monetary policy used by banks, not a college theory paper!!

[only 1-25k dinar]

Wow what a thread going here...No more buying for me, sounding much to risky and I can't afford this risky... Have a great day all!!!

[captjohnk]

Where in the world did you come up with the figure of 60 trillion dinar in use? As I understand it there was only 30-31 trillion printed and the government holds 42% of that. By the way for the last 10 months they have been buying them back and taking them off the market.

[SurfingTheDinarWave]

Oops sorry, I screwed that up, its only about 25% per year (never do arithmetic before coffee!).

and their overall rate of inflation in 2005 was138% when they did what they did, and Venezuela, was worse than Turkey and still not the same situation!Each situation was different and had different requirements set for them to follow per the IMF which both countries were full Chapter VIII members Iraq is Transitional Chapter VII to Chapter VIII which allows them a more broad range of policy choices prior to accepting full Chapter VIII requirements they have to take certain steps before they get to Chapter VIII and after they accept Chapter VIII they have new responsibilities to uphold TenMillion gave a very good education explanation of it in a post last night has all of the links to the IMF docs and explains all of it step by step, check it out it would clear up this issue immediately!!

Matter of Fact here is TenMillion's chat thread:

[SurfingTheDinarWave]

Since I have not said Turkey is a model for Iraq I don't know what this is about (though docs from Iraq keep saying so). I was only commenting on your statement about Turkey The rate you describe as "100,000's percentile" is in fact about 25% per year. That's all.

Yea, so? Much of this is cut and pasted from imf.org . If the point is to say that Iraq can not just do anything they want and must coordinate with the IMF with regard to changes in their currency (if they want to be an IMF member that is), I agree. There does not seem to be any further conclusion from this post than that.

Thanks I hadn't done the math I just threw an exaggerated number out there for the percentile...the rest are true but rounded off for simplicity.

he give the links to where he cut and pasted and it's not a big deal that it is because it is factual cuts and pastes they are not changed he just explains. However, Iraq is a member of the IMF and does desire to go from transitional to full, which is who they were sanctioned by so that is the point, I never gave a conclusion you should draw your own, the information is there and I was refuting the people who post hog wash lop theories to which they support with non-proven college students thesis papers which are theories yet to be proven most are not even publishable due to the inaccuracies.

[SurfingTheDinarWave]

Well the stuff he posted from the IMF is fine (it is a confusing organization), but I don't think any of it refuted the idea of an RD. Since an RD is value neutral I don't think anything in the IMF rules/regs prevents it. Turkey and Venezuela are both members.

Right but those 2 countries are Full members, Iraq is a Transitional which gives them additional privileges, is all. They will be doing an RV with modification of adding additional notes and coins, as an RD requires you to delete all notes and coins and introduce all new as well as add a new exchange symbol while both exist during the sterilization process of the old.

[MrFnHappy]

Just an FYI, Iraq is a charter member of the IMF since 1945. Iraq is a full member operating under Art XIV - Transitional Arrangements, which does allow latitude in monetary policy that would otherwise be a no-no.

Article XIV - Transitional Arrangements

Section 1. Notification to the Fund

Each member shall notify the Fund whether it intends to avail itself of the transitional arrangements in Section 2 of this Article, or whether it is prepared to accept the obligations of Article VIII, Sections 2, 3, and 4. A member availing itself of the transitional arrangements shall notify the Fund as soon thereafter as it is prepared to accept these obligations.

Article VIII - General Obligations of Members

*

*

Section 3. Avoidance of discriminatory currency practices

No member shall engage in, or permit any of its fiscal agencies referred to in Article V, Section 1 to engage in, any discriminatory currency arrangements or multiple currency practices, whether within or outside margins under Article IV or prescribed by or under Schedule C, except as authorized under this Agreement or approved by the Fund. If such arrangements and practices are engaged in at the date when this Agreement enters into force, the member concerned shall consult with the Fund as to their progressive removal unless they are maintained or imposed under Article XIV, Section 2, in which case the provisions of Section 3 of that Article shall apply.

You can read the Articles of Agreement in full here; http://www.imf.org/external/pubs/ft/aa/

I don't believe there is anything in the Articles of Agreement that precludes Iraq from performing a RD if that is what they wish to do, only that the Fund should be informed of, and consulted on, such intentions.

In fact, below is from a article in July (one of several I have read) referencing the IMF's support for the RD.

He expressed the IMF in August / August, his support of the Iraqi economy in the event of having a number of economic measures including the privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq.

http://www.aknews.com/ar/aknews/2/250819/

Edited September 5, 2011 by MrFnHappy

[SurfingTheDinarWave]

I disagree. Are you saying they will not do an RD as printing and minting new currency is too costly or difficult?

It would be costly, and extremely difficult, do understand Turkey and Venezuela have sophisticated banking systems in place and have had them for years their people use cash and cards...Iraqi people would be thoroughly confused and it would fail miserably they would have dollars, old dinar, and new dinar 3 exchange rates learning smart card systems and debit card systems that's a lot to take on at one time for even a sophisticated system, just imagine for those who have never even seen a debit card or an atm machine they would be now what the heck do I do with this or that...keeping it simple is the absolutely best way to go plus it is exactly what the best example in the world for it was right here in the USA we have RV'd several times then became the reserve currency our money has changed several times in the last 10 years even we never did an RD just modification to the currency and circulation changes when they pulled the 500, 1000, 5000, & 10,000 notes they just traded them for lower denoms equal to the amount you brought in. You can still buy those notes from the treasury department on limited quantity special offers. You can also take them to a bank to cash them in for face value, you'd be better off selling to a collector you would get much more for them though. The point is, that is not called an RD it's a note modification in circulation they are not adding another exchange symbol and having 2 different types of currency with 2 different values, they are adding 50K and 100K notes for large trade with banks and other countries trade banks and bringing in smaller notes to the same source of currency for the people to use in the market place...they are also not getting rid of the 5k, 10k, and 25k notes they will still use them the same as the 50 & 100k notes they just won't be out on the streets in the market place any longer. You'll see it when it all comes out in the wash, just try to wrap your mind around this and accept it now it will be easier to grasp later.

[moethai]

Q lately ive been hearing that only lower denoms will be the ones that will be cashed in to make $$$

Q Ive also heard that if they drop the 3 zeros then the amount will only be worth 25$ if it rvs to 1:1

Q Also possibly being only to cash in only in Iraq?

Q Is thiss all BS or is there truth behind any of these questions im asking???

GOOOOO RVVVVVV

And you already have 6 pages of BS to answer your questions!

[SurfingTheDinarWave]

How much? a few million, $100M USD maybe? If they only RV to a dime and only 1T dinars come in, it will cost $100B. So which is more expensive?

Gee I think people who have bargained for everything in dollars and dinars for the past 20 years or so will have few problems understanding an RD especially with the big education campaign they will have.

What did we RV against and when was this? The USD never lost its value due to the volume of dollars being printed going up by a factor of 1000 so I fail to see how this is a good example. Are there large denominations that are till legal tender in the US that are not circulated? Sure, but so what? When the 10,000 dollar bill went out of general circulation did the value of the dollar go up by 10, or 100, or 1000 against any currency? i.e. whatever this action in the US was, it is not a good model for how Iraq might fix their problems.

That maybe be what it is called when you take bills out of circulation but that is not an indication that this is the plan for Iraq.

So you think, so we'd all like to believe, but it just doesn't work economically for Iraq to have a large RV. Getting to a penny would be very difficult I think, but maybe possible, beyond that is no way no how. An RD is cheap, easy, does the job and with a small RV can put the currency right where they want. Its what all the article say is happening, its what the description of the legislation in parliament is about . They could RV 12:1 to a penny and RD 100:1 to a dollar. But my guess is it will be an RV at closer to 1.2:1 and an RD at 1000:1 and we won't even break even, but better than selling now!

The US Dollar was not always the reserve currency and at one time in 1971 it was on the gold standard which backed it, when we came off the gold standard we did a RV and when we became the reserve currency we did one. while we were on the gold standard our currency fluctuation was when gold fluctuated and inflation rose and dropped so it was RVing like it goes up and down on Forex now, there was no Forex then. No the US didn't lose value for removing the large notes it gained because now they weren't in the hands of the citizens and most were destroyed. first off all your confusing yourself on what an RD is, it's completely deleting all notes in a currency printing completely new ones and putting them out with lower denominations, they don't even circulate them in the banks anymore they destroy them all, they become ashes!!

When you take currency note out of circulation, and leave the rest of the existing structure in place it's called: diversification of currency composition like it is explained in the IMF document below

the RV will be much higher than 1.2:1 Iraq will be the strongest in the Middle East and Kuwait has said they will be RVing to $4.12:1 in Sept-Oct, so my guess was that with Iraq pre-war rate of $3.22 + 8-20% inflation factored in for each of the last 8 years we should see something close to $4.16:1 Dinar. You also forget that 1170 is a post-war program rate, key word is program, meaning it is artificial!

Revalue the remaining foreign currency denominated balance sheet items!

COMPONENTS/RESTRUCTURING TO RV

I have reviewed in some detail the requisite criteria for the restructuring and implementation of the Central government investment accounts under the PFM Public Financial management System as mandated by the MOF and coordinated with the IMF & World Bank. The process is somewhat skewed given that the plan methodology is integrated with the Iraq 2011 Budget which as we all know has fluctuated pro forma income and production projections with the contributory oil pricing variable. With these in mind, one should also bear in mind that the Iraq economic policy has experienced delays in their capital budget primarily due to the political uncertainties as noted in the IMF report (noted below).

The key components of production increases, pricing and large investments in the oil infrastructure have reduced the 2011 budget deficit while allowing for an increase in more transparent government finance activities. This trend toward a surplus position in the following years is realistic and will put government finances on a sustainable footing to help rebuild the government’s financials.

I believe that the revaluation we are looking for is more than clearly defined and outlined in the letter of intent to the IMF: “Iraq: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding”

http://www.imf.org/e.../irq/030311.pdf

1.We have worked with IMF staff to complete the review of exchange laws and regulations and are considering measures to remove the identified exchange restrictions on current international transactions.

2. In this regard, we formed a Bank Reconciliation Unit that comprises technical level staff from the banks, the CBI and the Ministry of Finance, and with the assistance of Ernst and Young (who were the agents of the Ministry of Finance in the external debt restructuring process) to: (i) deal with all legacy external liabilities taking into account the government’s actions in the context of Iraq’s external debt restructuring (ii) indentify and propose to write-off non-performing loans to defunct state-owned enterprises; (iii) propose a course of action for other remaining unreconciled accounts; and (iv) after the balance sheets have been cleaned up, revalue the remaining foreign currency denominated balance sheet items.

3. The CBI will follow the guidelines to diversify currency composition and establish an appropriate duration and credit risk profile, and build capacity for risk analysis.

I encourage everyone to review this letter and contrast its content to the economic reality of revaluation as not just a pipe dream but a documented FACT as outlined.

http://www.imf.org/e.../irq/030311.pdf

FOR THOSE WHO STILL DON'T UNDERSTAND

http://help.sap.com/...106/content.htm

Read more: