IQD To Be The Strongest Currency In The Middle East

[zul]

Its because thats what they have been saying....taking the zeros off the currency aka the bills....they have never mentioned simply removing the larger bills from circulation....dont know how you get that....

Not to mention the articles usually talk about the money in circulation needing to be reduced....like this one saying they will get the 30 trillion down to 30 billion.....thats a lop.....you cant just remove the larger bills from circulation by exchanging them for equal lower denoms and reduce the money supply....

I wish it would play out like that but thats not what they are saying.....you are just confusing people and giving them wrong information....nobody wants a lop, but we shouldnt be twisting articles into meaning something its not...

http://www.ourinvesting.com/2011/08/iraqi-dinar-redenomination-2011-iraq-to.html

Keep

I remember when Saleh said they ADD 3 zeros to their currency..~ they actually PHYSICALLY added the larger bills into circulation.

So now, they are Deleting/ Removing/Raising the 3 zeros......shouldnt that be physical, like when they added the 3 zeros?

ow

Edited September 5, 2011 by zul

[keepmwlknfny]

I know what they are saying, and what they are saying is far from the truth, and their intentions. You cannot believe Islamic people, because their Koran tells them to deceive the infidels, and if you are not Islamic, then to them you are an infildel, and it's ok to lie, and deceive you. False propaganda is their intentions.

I think it will be you and the lopsters who slink off into the bushes never to be heard from again, because you are the type that will never admit you are wrong, and have been wrong.

Are you back tracking now?? First you said its just removing the bills from circulation and its not a lop, then after I tell you what it really means you then come out of the closet and basically admit you were lying about it in the first place, that you really do know what they are saying, but now its just all lies and smoke and mirrors.....

You really have just lost any credibility on where you stand and your understanding of whats going on......stop listening to what sounds good and do your own homework....thats really the only way you will learn anything......

Just an FYI, I have no problem admitting if and when I am wrong.....and I would love to be wrong about what they are telling us in these articles but its become quite clear. I hope it is all misdirection but you cant ignore it cause the numbers match the situation and what they are talking about.....but I am curious about your statement saying we have been wrong....about what?

[keepmwlknfny]

Keep

I remember when Saleh said they ADD 3 zeros to their currency..~ they actually PHYSICALLY added the larger bills into circulation.

So now, they are Deleting/ Removing/Raising the 3 zeros......shouldnt that be physical, like when they added the 3 zeros?

ow

Hey Zul,

They also only had like 2 denominations of bills before we invaded.....so practically a whole new currency was introduced....they had a 250 dinar note and a 10k note.....so they did already have a 000 note, but a whole line of notes had to be created to make things a tad easier. So yes technically they did add notes into circulation....but I wonder since I didnt read what your referring to, if he could have been speaking about in Saddams era when they added 000 to make the 10k note simply because of the loss in purchasing power??

In any case, its the details of these delete the zeros articles that come flying out that point to it not just being about taking notes out of circulation....there are key phrases they use that point to what we dont want! Such as reducing the cash block (30 trillion to 30 billion), the reference to 1k note being equal to 1 new, and naming off countries that lopped.....Especially just using the term removing the zeros, has never been used (to my knowledge) to describe wanting to just pull a few large notes out of the money supply....its always used when redenominating and replacing a currency with a new one....

[Halo9678]

Wow... IMHO anything over 1.00 USD is good considering the .15 capital gains tax that we're going to get hit with. No word yet on the spread but I'm gong to ball park between 3-5%. So that's rough;y eighty cents on the dollar... I can deal with that. Now you want to tell me about the IQD being the strongest currency in the region, even over Kuwait. NIIIICE.... that puts me well over 3.00 USD. "Yes, I'd like to make an electronic transaction please. And I'd like the remainder in 10's and 20's. Awesome!!"

[sandy040]

You really have just lost any credibility on where you stand and your understanding of whats going on......stop listening to what sounds good and do your own homework....thats really the only way you will learn anything......

Just an FYI, I have no problem admitting if and when I am wrong.....

I must admit mate you do admit when you are wrong, like last year when you were screaming, RV by end of October,.

How can you be so sure you are right now about a RD? that's a big 180 by anyone's standards. Any chance you are wrong again ????????

[WILLB]

for the lobsters "The omission of the three zeros from the Iraqi currency will increase the international confidence and credibility of it," said Mahma Khalil"

how can the zeros be removed physically from the Bills as some of you think, and this will increase the international confidence and credibility of it.... it's right there in black and white, you stole fizzy lifting drink, you bumped into the ceiling which now has to be cleaned and sterilized, you get nothing, Good day!.

[keepmwlknfny]

You really have just lost any credibility on where you stand and your understanding of whats going on......stop listening to what sounds good and do your own homework....thats really the only way you will learn anything......

Just an FYI, I have no problem admitting if and when I am wrong.....

I must admit mate you do admit when you are wrong, like last year when you were screaming, RV by end of October,.

How can you be so sure you are right now about a RD? that's a big 180 by anyone's standards. Any chance you are wrong again ????????

Well Im not sure about what they will do.....which is why I am on the fence, standing neutral, without any emotions involved....

Do I think they can RV? Yes, its possible, although it wouldnt be anything huge to start...would more likely be a slow and gradual change....

Do I think they can RD? Yes, its also still on the table and its what they have been claiming they will do for the past 4 or 5 years now....

So at this point I dont know what they WILL do, just aware of what they COULD do...

for the lobsters "The omission of the three zeros from the Iraqi currency will increase the international confidence and credibility of it," said Mahma Khalil"

how can the zeros be removed physically from the Bills as some of you think, and this will increase the international confidence and credibility of it.... it's right there in black and white, you stole fizzy lifting drink, you bumped into the ceiling which now has to be cleaned and sterilized, you get nothing, Good day!.

Because redenominating is a sign of stability and improvement in the economy.....it shows that monetary policy mistakes are a thing of the past, that they are able to erase the after affects of hyperinflation, and with a RD (just as a RV would) the value of the currency can make a large jump in value...

[WILLB]

still don't see the part where they are removing the 0's physically, sorry

Will

so you're saying that making the money worthless( removing the 3 zeros physically) is going to increase the international credibility and confidence of the currency??? ummm, "here's your sign"

[Dalite]

still don't see the part where they are removing the 0's physically, sorry

Will

Unfortunately, if/when they start the process you, as well as the rest of us, will get the chance to see it up close and personal.

There is still a lot standing in the way of this passing through parliament.

To top that off, Allawi is making a very public run against Maliki's power, which may end up as a military coup, and the nationalization of all banks.

The next thing to follow in that situation, is a national currency, to remove the traces of the central bank.

I sincerely hope they do something soon; fix the money or fix the dictatorship of Maliki.

[keepmwlknfny]

still don't see the part where they are removing the 0's physically, sorry

Will

so you're saying that making the money worthless( removing the 3 zeros physically) is going to increase the international credibility and confidence of the currency??? ummm, "here's your sign"

Its not making it worthless.....it will still be worth the same.....right now your 25k note is worth 21 bucks or so.....the new 25 dinar note will carry the new exchange rate after the RD process is complete and will still be worth around 21 bucks....

You exchange your 25k note, for a 25 note, but you dont lose any value at all....its only a monetary illusion.....once the dinar is on par with the USD, the confidence in the dinar and the credibility will be increased because the currency wont be so inflated anymore....

[Lotusflower]

Great way to start the day reading this article!

[k98nights]

Here's my simple idea on this.... Iraqi dinar to be the strongest in the Middle East. We own Iraqi dinar. When we cash in we'll be rich. That's pretty much it....

[Mazzz27]

Well Im not sure about what they will do.....which is why I am on the fence, standing neutral, without any emotions involved....

Do I think they can RV? Yes, its possible, although it wouldnt be anything huge to start...would more likely be a slow and gradual change....

Do I think they can RD? Yes, its also still on the table and its what they have been claiming they will do for the past 4 or 5 years now....

So at this point I dont know what they WILL do, just aware of what they COULD do...

Because redenominating is a sign of stability and improvement in the economy.....it shows that monetary policy mistakes are a thing of the past, that they are able to erase the after affects of hyperinflation, and with a RD (just as a RV would) the value of the currency can make a large jump in value...

keep i heard (from in country) that iraqis are now taking 50 dinars over 20 bucks...

[keepmwlknfny]

keep i heard (from in country) that iraqis are now taking 50 dinars over 20 bucks...

Where or who did you hear that from?

[k98nights]

keep i heard (from in country) that iraqis are now taking 50 dinars over 20 bucks...

So what does that figure out to... 40 cents?

[JWJW11]

Here's my simple idea on this.... Iraqi dinar to be the strongest in the Middle East. We own Iraqi dinar. When we cash in we'll be rich. That's pretty much it....

very nicely put! In addition they continue to say they wany to raise the value of their currency, they continue to talk about their growing reserves, they CAN NOT accomplish all of this wth a "revenue neutral" the lopsters should read everything not just what they want to read. You guys are such simpletons.....

[RodandStaff]

Here's my simple idea on this.... Iraqi dinar to be the strongest in the Middle East. We own Iraqi dinar. When we cash in we'll be rich. That's pretty much it....

Man... you really know how to break it down and put a smile on the face!...see them pearly whites!!!

GO RV Already Baby!!!

[DRV1804]

keep i heard (from in country) that iraqis are now taking 50 dinars over 20 bucks...

How are you not going to expand more on this? Come on

Edited September 5, 2011 by DRV1804

[greyhackle]

Govt planning to increase value of Iraqi Dinar by ommiting 3 zeros

Dohuk, Sept. 3 (AKnews) - The Iraqi government is planning to increase the value of the Iraqi Dinar to become the "strongest in the Middle East" by removing three zeros, says a member of Iraqi parliament's Economic Committee.

Iraq's current money, printed after the 2003 US-led war, is 150 times bigger in quantity than the Swiss edition of the Iraqi Dinar used in the country. Iraq's smallest bill used in the markets is the 250 Dinar bill (approximately US$0.2)

Mahma Khalil told that the plan is to keep balance between the real value of the money and its value in the stock exchange market.

"The omission of the three zeros from the Iraqi currency will increase the international confidence and credibility of it," said Mahma Khalil, "The Central Bank of Iraq (CBI) has a real strategy for this issue"

CBI has stressed on more than one occasion on the need to delete the three zeroes and issue a new currency suitable for large transactions in addition to the presence of small coins. There has also been calls for currencies in the Arabic, Kurdish and English languages.

"Iraq will have in the next few years large revenues of oil that could reach to 6 million bpd as well as gas revenues and income of industrial, agricultural and religious tourism," Khalila said, for which the county will need a currency with strong value in the world markets.

CBI announced on June 23 about its willingness to delete the zeros of the Iraqi currency, and emphasized that this step is one of the strategic functions of the bank.

Reported by Khudr Khallat

RN/RY/AKnew

http://www.aknews.com/en/aknews/2/260023/

Hi Folks, From my understanding of the definition for strongest and the context of how it was used, I do not believe that the statement means most valuable, It means better than the average. I take the statement to mean that their currency will be more valuable than the average in the area. Has anyone figured the average value of the various dinar in the middle eastern countries? This should be a good clue as to what the revalued currency will be worth.

[brbrlocke]

Here's my simple idea on this.... Iraqi dinar to be the strongest in the Middle East. We own Iraqi dinar. When we cash in we'll be rich. That's pretty much it....

I really like your idea........

[Mazzz27]

Where or who did you hear that from?

i heard this from one of my friends in iraq.

So what does that figure out to... 40 cents?

yes.. pretty much. but hopefully in the future it will be 150 bucks! lol

How are you not going to expand more on this? Come on

my friend offered an iraqi local national either a 50 dinar note or 20 US Dollars. the iraqi took the 50 dinar note....was all he said.

we just have to wait and see what happens now, good or bad...im investing in lithium lol

Edited September 5, 2011 by Mazzz27

[Francie26]

Here's my simple idea on this.... Iraqi dinar to be the strongest in the Middle East. We own Iraqi dinar. When we cash in we'll be rich. That's pretty much it....

::sigh:: k98nights, you just now pretty much stole my heart!! You gallant knight, you!!!

[Alex38]

All smiles. From ear to ear. :D :D

[zigmeister]

i heard this from one of my friends in iraq.

yes.. pretty much. but hopefully in the future it will be 150 bucks! lol

my friend offered an iraqi local national either a 50 dinar note or 20 US Dollars. the iraqi took the 50 dinar note....was all he said.

we just have to wait and see what happens now, good or bad...im investing in lithium lol

This is interesting. It means only one thing, they have an incentive to not use the USD. So imo they have been told the dinar is going to be worth more than toilet paper.

[keepmwlknfny]

very nicely put! In addition they continue to say they wany to raise the value of their currency, they continue to talk about their growing reserves, they CAN NOT accomplish all of this wth a "revenue neutral" the lopsters should read everything not just what they want to read. You guys are such simpletons.....

Hmmm well lets think here for a moment.....

What can the lop accomplish?? Reduces the money supply to a more manageable amount (would bring 30 trillion to 30 billion) That is also a less diluted supply of money so that it can have more value.....

The value of the dinar can be increased significantly with a lop (like they state in the delete the zeros articles of getting the dinar 1 to 1 with the USD) Thats a HUGE jump in value......that is your strengthening dinar with more credibility and purchasing power

The after affects of hyperinflation can be erased and put behind them (a sign of stability and economic growth) and also adds faith to the currency and the economy....

The lop can pave the road for the dinar to go down and gain much value in time....

Hmmmm.....not exactly stricktly a revenue neutral event now is it? That term is just used to describe how no one loses money in the process because alot of people have listened to the gurus too much saying that its devaluing the money but its really not.....

So who is it again who only reads what they want to read?? Sure doesnt seem like its the people who understand both sides of this investment.....seems more so to be the ones that categorize the ones they dont agree with as lopsters just because they dont think this is a guaranteed million dollar maker.....