More PROOF not rumor of EXCHANGE RATE w/link

[zaborniake]

are u phoenix now???? lol "something is afoot" love it when he says that i get this warm fuzzy sensation inside. It just sounds so right yet so weird.

Does he say that?

If I start spouting off about the "Hegelian Dialectic" shoot me.

This also proves no lop...sorry all you lopsters but your theories are and always will be non-provable theories! Who's the &itch now!!

YAY...Play That Funky Music!!

No, unfortunately it doesn't.

[xyzzy]

That's my question also. I've never understood this three zero issue.

If I own a million dinar, am I gonna now own a million dollars or a thousand dollars?

In a 1000:1 RD you would still own 1M (curent) dinars. You would be able to exchange that for either 1,000 NEW dinars (new bills coins etc), or $860 USD. After a couple of years or so only the NEW dinars would be valid currency. Over that time if Iraq were to change the exchange rate both current and new dinars would both be impacted proportionately, there would be an exchange rate and a monetary symbol for each currency. Old and new would always exchange at 1000:1, no matter what the dollar or euro exchange rate was.

Also whatever happens, I think you can be sure it will be for the entire currency. Any ideas of some rate or whatever only applying to big bills but a different thing happening for small ones is nonsense (can you imagine the chaos and violence against the government if the guy with a 1,000 dinar bill gets something different than the guy with ten 100 dinar bills, both of the same currency?)

Edited September 3, 2011 by xyzzy

[Dalite]

That's my question also. I've never understood this three zero issue.

If I own a million dinar, am I gonna now own a million dollars or a thousand dollars?

Zigs,

I gave you a +1 for the neg some freethinker gave you for asking a legit question.

If the CBI plan being described in the news releases passes parliament, you will have a period of time to exchange the old currency you have for the new currency.

It still hasn't been announced when the higher exchange rate the new currency will have will go live, but it will be somewhere between $.86 to $1.00, if it plays like the news releases suggest.

This is the plan the CBI has had for at least 5 years. Again, it may not pass, or even get voted on.

You will have a million dinar, which would exchange for a thousand new dinar if this measure passes parliament..

You probably remember the discussions we have had in the past concerning pumper sincerity.

This is the scenario they promised you would never happen; and perhaps it won't, but it is the CBI plan - unless it is all just smoke and mirrors like the Pumpers said.

Stay well, and enjoy the weekend with friends and family.

Worrying about this won't change the outcome, as this has not come to pass, and may not be the final outcome.

[pastorbigal]

I like it

[bluesky]

i still don't understand what deleting/raising the zero's fellas do they just want to get our bills out of circulation? or does our dinar 25k bills only worth $25 if the three zeros drop?

Thanks for any clear clarification...thank you

[/quot

The way I understand the deletion of the three zero's is; if you have a $25,000 IQD once the 000's are deleted your not would be worth $25.00 USD. I also understand that the RV would begin and lets say it gets to $3.68 as everyone is saying. IMO that would make your note worth $92.00 USD. I could be mistaken and am open to this opinion from someone else

[xyzzy]

The way I understand the deletion of the three zero's is; if you have a $25,000 IQD once the 000's are deleted your not would be worth $25.00 USD. I also understand that the RV would begin and lets say it gets to $3.68 as everyone is saying. IMO that would make your note worth $92.00 USD. I could be mistaken and am open to this opinion from someone else

Essentially correct I think, but the arithmetic is a little off. Currently a 25K IQD note is worth about $21.50 USD. If a 1000:1 RD is executed to delete the zeros, that note has exactly the same value. A new (I'll call it NQD) 25 NQD note is printed and it also has the value of $21.50 . If they wanted the NQD (the new currency) to be exchanged at $3.68 USD then they would have to do a RV of about 4.25:1 and that would make the 25 NQD note and the 25k IQD note both be worth just what you say, $92 USD. Then eventually a year or two or three down the road the 25k IQD note would no longer be legal tender. Edited September 3, 2011 by xyzzy

[Mazzz27]

look at the rep you got for this post! wow! awesome

[WILLB]

I still think the deletion of the three zeros is the plan to take them out of circulation... should read the Articles the BondLady posted to get a better understanding

[magawatt]

How does a .86-1.0 rate make the IQD the "strongest in the Middle East"?

[easyrider]

How does a .86-1.0 rate make the IQD the "strongest in the Middle East"?

it mentions over a period of 5 years it would be the strongest and it will for sure.

[Chooch]

+1!!!!!!!!!!!!

[xyzzy]

I still think the deletion of the three zeros is the plan to take them out of circulation... should read the Articles the BondLady posted to get a better understanding

I wish it were so, but I don't find Bondlady's explanation convincing. To me its like hearing the guy explain all the details of how they have a car that runs forever as it makes more energy than it consumes. Uh sorry we know that can't happen so somewhere in that explanation there are big mistakes. Same with the huge RV. None of these schemes deal with the very bad effects of vastly (i.e. 1000x) increasing the value of a money supply while the GDP remains the same. Edited September 3, 2011 by xyzzy

[ZigsQuote]

Right. It's no RV. It's an RD, what many call a LOP. It's precisely that, and nothing but.

And you say you don't like it, well, neither do I. Only total fools would.

So what you are saying is WE'VE BEEN HAD. The old adage, "If it sounds too good to be true, it probably is" is unfortunately still true.

[Barriegirl]

Great post AD. Thx!

[easyrider]

I wish it were so, but I don't find Bondlady's explanation convincing. To me its like hearing the guy explain all the details of how they have a car that runs forever as it makes more energy than it consumes. Uh sorry we know that can't happen so somewhere in that explanation there are big mistakes. Same with the huge RV. None of these schemes deal with the very bad effects of vastly (i.e. 1000x) increasing the value of a money supply while the GDP remains the same.

and we can care less if they sound convincing to you or not has no bearing of where i stand. BL simply breaks down the articles i read them and it seems to me she is not trying to convince you of anything shes breaking down the articles as they read.

[easyrider]

It was a good gamble. In most gambles you either win or you lose. And when you lose, you lose everything. That won't be happening to us. So, the risk in the gamble was amazing low, while a possible win was huge. My kind of gamble for sure.

Wow, already giving up sounds to me you're not much of a gambler.

[eddiemac]

Oh My freaking Gosh!!!!!!!!!!!!!!! NO,NO,NO,! I want at least 8 to 12......... Bump that crap up or I'm not selling!......... LOL,LOL.... Ha ! Go baby Go...........

[xyzzy]

and we can care less if they sound convincing to you or not has no bearing of where i stand. BL simply breaks down the articles i read them and it seems to me she is not trying to convince you of anything shes breaking down the articles as they read.

So you're upset with me for posting what I think while you post what you think. Ok, thanks for sharing. (oh and its "we could NOT care less..." ). Edited September 3, 2011 by xyzzy

[HopefulTxn]

This also proves no lop...sorry all you lopsters but your theories are and always will be non-provable theories! Who's the &itch now!!

YAY...Play That Funky Music!!

Really? Did you read the entire article? Did you not see them state them mention they are not the only country to have done this step, and that the countries they mentioned all redenominated?

But the adviser to the Governor of the Central Bank of the appearance of Mohammed Saleh considered that the fear of fraud rings reflects the look bleak reminder that other countries in deciding to switch its currency and dropped them zeros, such as Turkey, Romania and Brazil, without being of its economy to shocks and therefore, Iraq is not engaged in water unknown or walking in the way of did not knock him one before.

It's obviously not the path we want them to take, but there is nothing here that disputes the intentions they have mentioned before. Unfortunately.

Edited September 3, 2011 by HopefulTxn

[SurfingTheDinarWave]

"proves"? Please. Hey a straight up RV would be glorious, but the obvious reading of this is an RD, of course raising (deleting) the 3 zeros will lead to an exchange rate 1000 times the current rate, i.e. around a buck, for the (new currency) dinars that have the 3 zeros removed, not for the (current currency) dinars with the 3 zeros. I don't like it, and if you want to revel in the fantasy then just skip this post, but realistically the article is not proof of a straight up RV to $1, no matter how much we'd all like it to be.

sterilization or deleting of the 3 0's is not what you think an RD is; an RD is taking all of the current currency no matter what value the note states out of circulation destroying them and the ticker symbol and coming out with a completely new currency in all denominations with a new ticker symbol, this is a lop, i.e. Turkey old Lira currency was symbol TYL and had denominations ranging from 1 to 1,000,000 had coins and note forms. The NTL new Turkish Lira symbol has denominations ranging from:

Coins

Freq. used 5, 10, 25, 50 Kr , 1 TL

Rarely used 1 Kr

Banknotes

Freq. used 5, 10, 20, 50 TL

Rarely used 100, 200 TL

what Iraq is doing is pulling the large notes off the streets and give you the same value worth in small notes and coins (they will destroy 1/3 of them to add value to the currency to help support the RV rate) they will also keep the rest for inter-bank and international large trades which they will also be introducing a 50,000 and 100,000 note to accommodate this which is posted in another article from today on here and www.aknews.com.

Yes taking the large notes out of circulation will still take time 2-3 years to complete because the large majority of 3 0's notes are out of the country of Iraq they are in the hands of investors like you and I or exotic currency baskets held by other countries reserve or central bank.

according to central bank monetary policy in some cases of past inflation issues an RV would include the scenario I just described but what Iraq learned from Turkey's mistakes will not be duplicated and what Turkey did was not completely wrong it just wasn't completely right and was very complicated. Though an RV with a form of an RD in conjunction with it is not a lop, not a new ticker symbol and not a completely new currency still is the same, the 50, 250, 500, & 1000 will still be in circulation and have whatever vale the RV designates wouldn't make sense to have a 1000 still in use unchanged be worth the same as the newly added 1 dinar note. They are simply RVing and introducing smaller denominations into the market place while hording the larger 3 0's note into the bank for large trade and inter-bank transaction makes sense for a bank to loan an Iraqi 25,000 dinar to buy a car and instead of having to pay the transport costs of the weight of 25,000 1 dinar notes or 2500 10's or 25 100's from the buyers bank to the car dealerships bank by sending one 25,000 note much more secure and not noticeable. would be even worse if it were a house that costs 1,000,000 dinar to buy or build for a loan and how many people need homes right now yeah about half of the population of 30+ million they would be sending large amounts of money back and forth rather than a few notes back and forth...most of this is simple common sense and logistics, not rocket science, the articles sometimes mislead you 1. because it is poorly translated from Arabic to English 2. for safety and security 3. to throw off possible conspiring terrorists I'm sure I could pull a few more reasons as if they were needed but not one person with a RD theory has ever been correct and they will not because they will not understand the differences and open their minds to possibilities and functionality of what is and what might be, plus their debate tactics end up with them trying to be the moderator and asking the questions and not debating with facts they can't produce!! I have supported this with facts from central banks the federal reserve and with what Iraq has said they are doing, yet all they do is dispute it and question it or throw out a link to some college students thesis paper that is a theory never a fact, and when you point them to the fats they disregard them because they know they are wrong they just can't admit it!!

[easyrider]

So you're upset with me for posting what I think while you post what you think. Ok, thanks for sharing.

haha upset give me a break its foolish to really get mad over the interent or simply stating an opinion whats upsetting is you are trying to make it seem BL is trying to convince people of her liking and that is far from the case my friend. She is appreciated here as to what she does. Please be more compassionate. Ive really gotten tired of good people ran off this board in the past, its gets frustrating.

[lizabeth1]

1.17...three digits to the left 8 years ago now three digits to the right...

[sonny1]

Though they will not lop this means lop.

[eddiemac]

A-Men Brother.................. It's so Easy.............. yeah!!!!!!!!!!!!

[SurfingTheDinarWave]

Really? Did you read the entire article? Did you not see them state them mention they are not the only country to have done this step, and that the countries they mentioned all redenominated?

But the adviser to the Governor of the Central Bank of the appearance of Mohammed Saleh considered that the fear of fraud rings reflects the look bleak reminder that other countries in deciding to switch its currency and dropped them zeros, such as Turkey, Romania and Brazil, without being of its economy to shocks and therefore, Iraq is not engaged in water unknown or walking in the way of did not knock him one before.

It's obviously not the path we want them to take, but there is nothing here that disputes the intentions they have mentioned before. Unfortunately.

and you have effectively been proven wrong time after time and yet you still argue for a lop go to school Central Bank Education

Federal Reserve Education