Removing the zero's next month

[cdb]

I spoke with one of the Locals that works here on base today, as he was counting his Dinar. I jokingly said "What you got there about 3 dollars?" He laughed and said next month it will be more. I asked what he meant and he said that on the news it is being said that sometime next month the CBI will be removing the 3 zeroes. He wasn't sure what the new value of a Dinar would be, just that they are planning on removing the 000's next month.

This may all be over soon..........

[kostaske]

Thanks for the post cdb ..fingers crossing

[flatdawg]

I have only one local I talk money with here at Tallil, and he is saying the same thing.

.

[cdb]

I have only one local I talk money with here at Tallil, and he is saying the same thing.

.

O&M or CTP?

[TPSprayduster]

O&M or CTP?

I heard that from one of the Iraqis i know, he said on the news that it would either be 1 to 1 or possibly more. I am sure Okie will call it as well.

[82Corp.]

I spoke with one of the Locals that works here on base today, as he was counting his Dinar. I jokingly said "What you got there about 3 dollars?" He laughed and said next month it will be more. I asked what he meant and he said that on the news it is being said that sometime next month the CBI will be removing the 3 zeroes. He wasn't sure what the new value of a Dinar would be, just that they are planning on removing the 000's next month.

This may all be over soon..........

What is your location brother, JBB, T1, BTC, H2/4, Victory, B?. Thanks for the info.

[82Corp.]

I have only one local I talk money with here at Tallil, and he is saying the same thing.

.

Ok, you’re at T1 - Tallil, do you have a Warka account was branch 0717? I spent 12 months at T1, I know you’re hotter than HE double LL right now. Have they completed the Bank of Baghdad near the Warka Bank? It was scheduled to open shortly after my departure; Afghanistan is the place to be! Or was that Green Acers is the place to be; all a blur at this point. Be safe!

[Barriegirl]

Thanks cdb and flatdawg! It's nice to have "intel" from Iraq that is truthful - like a breath of fresh air .... . Thanks for sharing and be safe.

Edited August 27, 2011 by Barriegirl

[CYRUS]

I was never the brightest bulb in the bunch. I dont quite grasp how the losing three 000 will benefit us.

if 1000 dinar today are worth 1 tomorrow, I see this as a de-valuation rather than a re-valuation.

If my 25k bill is worth today US$21 and we take 000 out (for the sake of argument, lets says it RV's at 1 to 1), now I have 25 dinar worth US$25.

What am I missing here ?

Edited August 27, 2011 by CYRUS

[tandy]

removing the 3 zero's will not devalue the $

[keepmwlknfny]

I was never the brightest bulb in the bunch. I dont quite grasp how the losing three 000 will benefit us.

if 1000 dinar today are worth 1 tomorrow, I see this as a de-valuation rather than a re-valuation.

If my 25k bill is worth today US$21 and we take 000 out (for the sake of argument, lets says it RV's at 1 to 1), now I have 25 dinar worth US$25.

What am I missing here ?

It wont devalue it, its just considered a monetary illusion because it seems like you are losing money but the value and purchasing power is gained with the new bills....

Its actually a neutral event.....what your 25k note used to be able to buy, a new 25 note will be able to buy.....you will be able to use both in the marketplace for sometime until they deem the bills we hold now worthless...

Removing the zeros is NOT what we want!!! Removing, deleting, raising the zeros is a redenomination or lop as many peope like to call it.....no bueno for us....

[sanders2340]

Hello Cyrus:

I'm a newbie to this investment, but as I understand it, your train of thought is considered a RD (Re-Denomination). After the RD, the value of the three zero notes and also the value of the country wealth will be added to the new currency (Lower Denoms). This will give the new currency value; or should I say more value. That's the 'RV For Dummies Version'. By no means am I refering to you as a dummie But, I believe we all are somewhat dum to this investment. None of us know exactly how this will play out. Let's just hope for the best. GO RV!!!!!

[gatoraces]

I was never the brightest bulb in the bunch. I dont quite grasp how the losing three 000 will benefit us.

if 1000 dinar today are worth 1 tomorrow, I see this as a de-valuation rather than a re-valuation.

If my 25k bill is worth today US$21 and we take 000 out (for the sake of argument, lets says it RV's at 1 to 1), now I have 25 dinar worth US$25.

What am I missing here ?

the thinking is your 25000 dinar is still 25000 dinar, however at 1:1, it is not worth $21 anymore but $25000. not sure, but i think in country and out of country are going to work differently. at least that is what investors are hoping for.

Edited August 27, 2011 by gatoraces

[no left angles]

the thinking is your 25000 dinar is still 25000 dinar, however at 1:1, it is not worth $21 anymore but $25000. not sure, but i think in country and out of country are going to work differently. at least that is what investors are hoping for.

i would have to agree....just doesnt make any sense to me that once the rate comes out, say one to one.....the bank would happily exchange that....i think this whole dropping the 3 zeros wont really pertain to us.....but will affect the average iraqi...

[cdb]

What is your location brother, JBB, T1, BTC, H2/4, Victory, B?. Thanks for the info.

Started out at C1 for about 1 1/2 years then moved to JBB for 2 1/2. Now I'm at T1.

[betsy1949]

I heard that from one of the Iraqis i know, he said on the news that it would either be 1 to 1 or possibly more. I am sure Okie will call it as well.

Please don't take any calls from Okie. Right now I can feel encouraged and feel that this is a very positive step. If Okie gets in, it just becomes another unbelieveable Okie story.

[Ghost Rider]

It wont devalue it, its just considered a monetary illusion because it seems like you are losing money but the value and purchasing power is gained with the new bills....

Its actually a neutral event.....what your 25k note used to be able to buy, a new 25 note will be able to buy.....you will be able to use both in the marketplace for sometime until they deem the bills we hold now worthless...

Removing the zeros is NOT what we want!!! Removing, deleting, raising the zeros is a redenomination or lop as many peope like to call it.....no bueno for us....

WOW... Keep, t's obvious that you have not been following the Iraqi news these past few months!!

Shabibi (Gov. of CBI) in many past articles has revealed that "removing the 000's" is referring to the process of taking the 10k, 25k out of the public's hand. Shabibi has also made it clear that this will be a "slow process" and will take a couple years to accomplish. During this time, Shabibi states the "two currencies" (new lower denom's and existing large notes) will coexist. Shabibi has also stated that during this time "the dinar will once again have VALUE and will be powerful".

Folks, this IS a RV NOT a LOP as Keepmwlknfny keeps pushing out there as fact. I have been only been following REAL Iraqi news these past few months and NOT rumors or opinions. For those of you who know me, I keep it REAL and follow only REAL facts coming out of Iraq.

I digress...

GR

[zigmeister]

Another way one might look at this is they are retiring the 10 k, and 25k.

[odogtriever]

WOW... Keep, t's obvious that you have not been following the Iraqi news these past few months!!

Shabibi (Gov. of CBI) in many past articles has revealed that "removing the 000's" is referring to the process of taking the 10k, 25k out of the public's hand. Shabibi has also made it clear that this will be a "slow process" and will take a couple years to accomplish. During this time, Shabibi states the "two currencies" (new lower denom's and existing large notes) will coexist. Shabibi has also stated that during this time "the dinar will once again have VALUE and will be powerful".

Folks, this IS a RV NOT a LOP as Keepmwlknfny keeps pushing out there as fact. I have been only been following REAL Iraqi news these past few months and NOT rumors or opinions. For those of you who know me, I keep it REAL and follow only REAL facts coming out of Iraq.

I digress...

GR

Can you link some of these news articles? I seem to have mised them. Just trying to figure out how the new currency can exist with the old unless they hold their face value.

Edited August 27, 2011 by odogtriever

[keepmwlknfny]

WOW... Keep, t's obvious that you have not been following the Iraqi news these past few months!!

Shabibi (Gov. of CBI) in many past articles has revealed that "removing the 000's" is referring to the process of taking the 10k, 25k out of the public's hand. Shabibi has also made it clear that this will be a "slow process" and will take a couple years to accomplish. During this time, Shabibi states the "two currencies" (new lower denom's and existing large notes) will coexist. Shabibi has also stated that during this time "the dinar will once again have VALUE and will be powerful".

Folks, this IS a RV NOT a LOP as Keepmwlknfny keeps pushing out there as fact. I have been only been following REAL Iraqi news these past few months and NOT rumors or opinions. For those of you who know me, I keep it REAL and follow only REAL facts coming out of Iraq.

I digress...

GR

You have misconstrued what they have been talking about....removing the zeros has been talked about for years, they are replacing the currency....that is a RD....they have stated that and the fact that 1000 old dinar will equal 1 new.....that is a RD....they have stated they were using turkey as a template for this plan....that is a RD....where have you been? You sure you aren't reading okies news??

Yes they have stated raising the value of the dinar in these delete the zeros articles, and that's what happens when the RD process is complete and the old currency is deemed worthless....

I'm sorry that you are getting confused about this plan to delete the zeros but its not a straight up RV.....they have NEVER stated that they are just removing the 000 notes from circulation and nothing else, or that you will be able to trade your 25k note in for the equivilant in lower denoms....that also does not reduce the cash block like they have mentioned over and over....

I'm worried to even hear where you are getting your forum facts from.....

[keepmwlknfny]

WOW... Keep, t's obvious that you have not been following the Iraqi news these past few months!!

Shabibi (Gov. of CBI) in many past articles has revealed that "removing the 000's" is referring to the process of taking the 10k, 25k out of the public's hand. Shabibi has also made it clear that this will be a "slow process" and will take a couple years to accomplish. During this time, Shabibi states the "two currencies" (new lower denom's and existing large notes) will coexist. Shabibi has also stated that during this time "the dinar will once again have VALUE and will be powerful".

Folks, this IS a RV NOT a LOP as Keepmwlknfny keeps pushing out there as fact. I have been only been following REAL Iraqi news these past few months and NOT rumors or opinions. For those of you who know me, I keep it REAL and follow only REAL facts coming out of Iraq.

I digress...

GR

http://www.iraq-businessnews.com/tag/redenomination/

http://www.unc.edu/~lmosley/APSA%202005.pdf

Please read and educate yourself so that you dont confuse and misinform any other people....we have enough of that going on here in dinarland......this removing the zeros or redenominating is pretty straight forward on what it is.....its NOT good for us.....

[4aprofit]

Many will promise a huge return to get you to buy..PUMPER!

Many will discourage you to buy, insinuating a LOP...or whatever...for you to dump or sell out...DUMPER!

No one knows what will happen until it is over, plain and simple...for anyone to be overly pushy in either direction, seemingly put's them in one category or the other...you are either for the investment and hold some, so you look for the best positive outcome and news...or you should'nt own any if you have a negative attitude...and should be showing all of us a better investment...which you should be spending you time with..especially if it is so much better than this one....IN OTHER WORDS....FOLKS SPEND TIME WITH WHAT IS WORKING..OR THINGS THAT THEY BELIEVE WILL WORK...IN OTHER WORDS, YOU WILL NEVER FIND A GUY WHO BUYS FORD STOCKS, BUT SPENDING TIME ON THE BLOGS FOR CITIBANK STOCKS, CONSTANTLY FINDING REASONS WHY CITIBANK STOCKS WONT WORK OUT IN THE FUTURE...UNLESS HE HAS AN AGENDA TO DRIVE THE CITIBANK STOCK HIGHER OR LOWER FOR SOMEONE ELSE...IN OTHER WORDS, THERE ARE NO FREE LUNCHES AND FOLKS DON'T STUDY WHAT THEY CAN'T STAND OR ARE NOT INTERESTED OR INVESTED IN....IMO...FOLKS, HANG ONTO YOUR DINARS AND DON'T DUMP...AS THERE ARE THOSE THAT ARE JUST AS CRAFTY IN GETTING YOU TO SELL OUT, AS THERE WERE THOSE THAT PUMPED US TO BUY...THESE GUYS WORK IT BOTH WAYS...I BELIEVE AS WE GET CLOSER THERE WILL BE TONS OF NEGATIVITY....(I CAN SEE ALL OF THIS, WHETHER MANY OF YOU DO OR NOT....AS THEY ARE VERY SLICK)....FOR WHAT IT'S WORTH.....

[flatdawg]

O&M or CTP?

Was TTM, now O&M.

[flatdawg]

Ok, you’re at T1 - Tallil, do you have a Warka account was branch 0717? I spent 12 months at T1, I know you’re hotter than HE double LL right now. Have they completed the Bank of Baghdad near the Warka Bank? It was scheduled to open shortly after my departure; Afghanistan is the place to be! Or was that Green Acers is the place to be; all a blur at this point. Be safe!

My Warka account is at Balad. Cold front the last few days, it's only been 125 this week.

B of B is now open, and I plan on being there tomorrow. Warka is rarely open. The man that works there, I forget his name now, says he is spending a lot of time in Baghdad auditing accounts for the merger with the British bank.

.

[MANNY99]

http://www.iraq-businessnews.com/tag/redenomination/

http://www.unc.edu/~lmosley/APSA%202005.pdf

Please read and educate yourself so that you dont confuse and misinform any other people....we have enough of that going on here in dinarland......this removing the zeros or redenominating is pretty straight forward on what it is.....its NOT good for us.....

this article from 2006 might change your mind it is a rv and that was the plan from day one.

Iraq plans to revalue currency Gulf Daily News - [7/7/2006]

Iraq is considering redenominating the dinar, printing new banknotes to remove inflation-generated zeros from its currency, the finance minister said yesterday.

Senior government and central bank officials have said the proposal has been under consideration for some time to make one new dinar equal to 1,000 current dinars, a move that would bring the currency closer to parity with the US dollar.

Asked about such a suggestion in an interview on Arabiya television, Finance Minister Bayan Jabor said: "This is the ministry's suggestion to the central bank. We think in the long term it will be for the benefit of Iraq."

Jabor said surveys indicated popular support for the move.

The oil-rich nation's currency was once worth more than $3, he recalled, before the ruinous wars and international sanctions during the rule of Saddam Hussein.

There are currently about 1,450 dinars to the dollar, a rate that has been relatively stable since shortly after the US invasion in 2003. At that time new banknotes were issued by the US occupiers to remove Saddam's image.

Other nations that have been through rampant inflation have followed a similar course, notably Russia in the 1990s.

Until the 1980s, many prices in Iraq commonly also used the fils. One dinar equals 1,000 fils. The smallest denomination note today is 250 dinars.

http://www.iraqdirectory.com/DisplayNews.aspx?id=1636

Edited August 27, 2011 by MANNY99