More PROOF not rumor of EXCHANGE RATE w/link

[theadicts]

Oh, wow! Another thread where people equate Turkey to Iraq

As if they are identical, in both history, current circumstance, future potential, and natural resources.

Wait... they aren't.

So why are we comparing them?

The same reason you put butter on your table at dinner... it's a great compliment to the lopster! I mean, lobster. Dang typos!

Hmmmm Adam, are you ruling out the chance of a RD completely? I would think a guy like you would not think such a thing.

Why respond to this article and not the other more important "pro" rv articles.

[Adam Montana]

wow adam ventured from the VIP section +1

It happens once in a while

Hmmmm Adam, are you ruling out the chance of a RD completely? I would think a guy like you would not think such a thing.

An RD is always a possibility, I simply think it's unlikely.

Why respond to this article and not the other more important "pro" rv articles.

I'm up at "stupidoclock" (aka 3AM) to do a conference call with some business partners on the other side of the world... I guess I'm just commenting on whatever is here! My apologies if I didn't discriminate to your standards

PS I oughta make you change your avatar, I nearly took out 3 monitors trying to kill that bug.

[make11]

Fantastic news!

[Luigi1]

Shabibi stated on numerous occasions...It will be a LOP then RV to around 3.3 to the Dollar or at or near the old ID-UK exchange rate.

The coins are already minted & the new ID Bills are in print. The only thing holding this up, a release date, then it will happen. The three zeros will be gone. Your old currency will be tradable along side the new for at least two years after LOP & RV. After that, there will be a cutoff date to turn in the old.

A x3.3 gain on your investment is not bad. Then it will strengthen even more after LOP & RV to around 2.5% each quarter until the ID is par to the Kuwaiti Dinar.

Let the negatives come on in. People on this site want to hear fantasies, dreams & visions of overnight wealth, not the real facts.

[FlyHi]

I'm up at "stupidoclock" (aka 3AM) to do a conference call with some business partners on the other side of the world... I guess I'm just commenting on whatever is here! My apologies if I didn't discriminate to your standards

PS I oughta make you change your avatar, I nearly took out 3 monitors trying to kill that bug.

Hear hear....couldn't agree more....dastardly little bugs! ....at least its a pleasant diversion from loPsters/lobsters!

[easyrider]

Shabibi stated on numerous occasions...It will be a LOP then RV to around 3.3 to the Dollar or at or near the old ID-UK exchange rate.

The coins are already minted & the new ID Bills are in print. The only thing holding this up, a release date, then it will happen. The three zeros will be gone. Your old currency will be tradable along side the new for at least two years after LOP & RV. After that, there will be a cutoff date to turn in the old.

A x3.3 gain on your investment is not bad. Then it will strengthen even more after LOP & RV to around 2.5% each quarter until the ID is par to the Kuwaiti Dinar.

Let the negatives come on in. People on this site want to hear fantasies, dreams & visions of overnight wealth, not the real facts.

I wanna know why your brother Mario is always the star and gets princess peach in the end?

Edited September 4, 2011 by easyrider

[Dalite]

Oh, wow! Another thread where people equate Turkey to Iraq

As if they are identical, in both history, current circumstance, future potential, and natural resources.

Wait... they aren't.

So why are we comparing them?

The same reason you put butter on your table at dinner... it's a great compliment to the lopster! I mean, lobster. Dang typos!

Probably because the CBI uses Turkey as an example..

But then, the CBI may not be as enlightened about monetary policy either..

Everybody knows that Turkey doesn't have more oil than Jed Clampett like Iraq does...

[ArmyDog133rd]

Good Post, +1. I think we all would be happy at 1:1.

Of course, higher is always better.

[paj1985]

Im not convinced either way, i just know iraq arent gonna tell the truth if they plan an rv.

But they could be telling the truth about an RD, im glad adam and sonny made comments

Because negative articles usually get ignored

[Luigi1]

I wanna know why your brother Mario is always the star and gets princess peach in the end?

Sure...I'd like to wake up one day a $Millionaire just like the next guy. I lived through the Italian RV & the Turkey RV. There is even more uncertainty given the crashing Dollar & EURO. Currency wars will continues as each nation fights for any trade advantage over the next nation. The EU will abandon the EURO & go back to their old currencies. The Dollar will continue to weaken. OPEC will abandon the Petrodollar. Other nations locked into the Dollar will float. The USA is under pressure to get back on the gold standard. The WTO is trying to avert trade wars & protectionism to prevent a global depression. Nothing, nothing is certain anymore. Those are the facts, not rumors.

Yes. I will continue to dream in hopes of becoming wealthy overnight like everyone else. I'll take what I can get even if it's only a mear three times my original ID investment. You bet...I hope this works out as we all are believing it will.

[mdazahar]

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.

I think it wAS only last week CBI said the old notes WILL NOT be cancelled...and will be used until they gradually dissappear.. How's that for RD. Lol!

And it was just a few days ago the president of ISX said, the trading and shares WILL NOT be affected by deleting 3 zeros....

Hmmm...can't smell RD to both statements.

[mdazahar]

So your saying its going to RV when they are referrecing Turkey and Brazil?? How did you possibly come up with that?? Turkey and Brazil lopped......

Turkey and Brazil kept their inflation down. That's what Shab is interested in.

[Dalite]

I think it wAS only last week CBI said the old notes WILL NOT be cancelled...and will be used until they gradually dissappear.. How's that for RD. Lol!

And it was just a few days ago the president of ISX said, the trading and shares WILL NOT be affected by deleting 3 zeros....

Hmmm...can't smell RD to both statements.

No need to get that mixed up by what they are saying...

The currencies co existing for a period of time between two to three years gives plenty of time to contract the old from the money supply. That means they will be gradually be removed from the money supply so all is left is the new currency.

This is how all redenominations work; no change here.

Trading shares, pricing, loans, contracts, salaries, bank accounts, all financial concerns are treated the same by a division of 1000 (3 zeros).

So the statement from the ISX is accurate.

Since it would be revenue neutral, there would be no change, other than the money becoming stronger, and the economy prepared for future growth, while the CBI liability is reduced from trillions to billions.

Again, this is how all redenominations work, and why they are used in countries who have demonstrated their ability to bring hyperinflation under control, and maintain the lower inflation rates.

Simply nothing new in either statements.

Don't let it confuse you; there have been many links posted that will explain the process; step by step.

[mdazahar]

No need to get that mixed up by what they are saying...

The currencies co existing for a period of time between two to three years gives plenty of time to contract the old from the money supply. That means they will be gradually be removed from the money supply so all is left is the new currency.

This is how all redenominations work; no change here.

Trading shares, pricing, loans, contracts, salaries, bank accounts, all financial concerns are treated the same by a division of 1000 (3 zeros).

So the statement from the ISX is accurate.

Since it would be revenue neutral, there would be no change, other than the money becoming stronger, and the economy prepared for future growth, while the CBI liability is reduced from trillions to billions.

Again, this is how all redenominations work, and why they are used in countries who have demonstrated their ability to bring hyperinflation under control, and maintain the lower inflation rates.

Simply nothing new in either statements.

Don't let it confuse you; there have been many links posted that will explain the process; step by step.

I think you are the one who is confuse here.

When CBI said, old currency will coexist until they gradually dissappear, it simply means there's no window period. Otherwise, they would have mentioned the window period.

Again..dont try to twist what CBI said, it was crystal clear the President of ISX said that shares will not affected. So if today you have 100,000 dinar worth of shares..you will still have 100,000 dinar worth of shares after deleting of the zeros. And that is what they meant by 'shares will not be affected'.

I mean what else would they mean when they say deleting 3 zeros WILL NOT affect the shares.

[Aqua Dude]

MORE PROOF AS PROMISED PER LATE LAST NIGHT

Financial Representative: The Deletion of Zeros From the Iraqi Currency Will Not Affect the Citizen or to Business Dealings

Sunday, 4 September 2011

BAGHDAD

He said a member of the Finance Committee in the House of Representatives Ibrahim al-Mutlaq said the process of removing the zeros from the Iraqi currency, which will be released for circulation would not affect the citizen and not have effects on trade and financial transactions daily.(Note from poster: THIS MEANS THE RV WILL MOST LIKELY BE AROUND 1dinar:1USD)

"The coming months will see the introduction of the new currency for circulation, and that the Finance Committee, experts and the Ministry of Finance discussed all the means that would not affect the process of removing the zeros, the citizens' income, or money, or owned by, or on the economic side in the daily dealings."

He said the Attorney-Mutlaq of the Iraqi List, "There are a number of mechanisms proposed to begin this process, but the Finance Committee wants to be the best application of this matter."

He explained: "The process of withdrawal of currency from the current citizens will take the time to take two or three years, so there is no fear of this thing."

He was adviser to the CBI the appearance of Mohammed Salih said that the deletion of zeros from Iraqi dinar is part of the currency reform of management system in preparation for the next phase, indicating the completion of preparations for the implementation of the project to delete the zeros of the Iraqi currency.

http://translate.google.com/translate?sl=ar&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Falrayy.com%2F30257.%D8%AD%D8%B7%D9%85\

[Dalite]

I think you are the one who is confuse here.

When CBI said, old currency will coexist until they gradually dissappear, it simply means there's no window period. Otherwise, they would have mentioned the window period.

Again..dont try to twist what CBI said, it was crystal clear the President of ISX said that shares will not affected. So if today you have 100,000 dinar worth of shares..you will still have 100,000 dinar worth of shares after deleting of the zeros. And that is what they meant by 'shares will not be affected'.

I mean what else would they mean when they say deleting 3 zeros WILL NOT affect the shares.

No twisting necessary, it is what it is.

Try to spend a little time to understand the two to three year duration the CBI assigns to allow the two currencies to coexist.

Also, the ISX statement is entirely accurate.

That is what the term value neutral means.

No values have changed, but the currency is strengthened by the reduction of liability.

That is about as basic a rule of economic as there exists.

Nothing new here.

Absolutely correct about the 2 to 3 year co existence where the old currency will be honored at a rate of 1170:1, while the new currency is given the implied rate of 1.17:1.

Both have the same buying power.

This is why it is called a revenue neutral event.

This is about as plain as I can make it.

Only you can choose what benefits you best to believe.

MORE PROOF AS PROMISED PER LATE LAST NIGHT

Financial Representative: The Deletion of Zeros From the Iraqi Currency Will Not Affect the Citizen or to Business Dealings

Sunday, 4 September 2011

BAGHDAD

He said a member of the Finance Committee in the House of Representatives Ibrahim al-Mutlaq said the process of removing the zeros from the Iraqi currency, which will be released for circulation would not affect the citizen and not have effects on trade and financial transactions daily.(Note from poster: THIS MEANS THE RV WILL MOST LIKELY BE AROUND 1dinar:1USD)

"The coming months will see the introduction of the new currency for circulation, and that the Finance Committee, experts and the Ministry of Finance discussed all the means that would not affect the process of removing the zeros, the citizens' income, or money, or owned by, or on the economic side in the daily dealings."

He said the Attorney-Mutlaq of the Iraqi List, "There are a number of mechanisms proposed to begin this process, but the Finance Committee wants to be the best application of this matter."

He explained: "The process of withdrawal of currency from the current citizens will take the time to take two or three years, so there is no fear of this thing."

He was adviser to the CBI the appearance of Mohammed Salih said that the deletion of zeros from Iraqi dinar is part of the currency reform of management system in preparation for the next phase, indicating the completion of preparations for the implementation of the project to delete the zeros of the Iraqi currency.

http://translate.google.com/translate?sl=ar&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Falrayy.com%2F30257.%D8%AD%D8%B7%D9%85\

[Aqua Dude]

No need to get that mixed up by what they are saying...

The currencies co existing for a period of time between two to three years gives plenty of time to contract the old from the money supply. That means they will be gradually be removed from the money supply so all is left is the new currency.

This is how all redenominations work; no change here.

Trading shares, pricing, loans, contracts, salaries, bank accounts, all financial concerns are treated the same by a division of 1000 (3 zeros).

So the statement from the ISX is accurate.

Since it would be revenue neutral, there would be no change, other than the money becoming stronger, and the economy prepared for future growth, while the CBI liability is reduced from trillions to billions.

Again, this is how all redenominations work, and why they are used in countries who have demonstrated their ability to bring hyperinflation under control, and maintain the lower inflation rates.

Simply nothing new in either statements.

Don't let it confuse you; there have been many links posted that will explain the process; step by step.

AGAIN, LIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIES this is not how redenominations work!!!!!!!

per investopedia

What Does Redenomination Mean?

1. The process whereby a country's currency is recalibrated due to significant inflation and currency devaluation. Certain currencies have been redenominated a number of times over the last century for various reasons.

Investopedia explains Redenomination

1. For example, the Bulgarian lev was redenominated due to inflation arising at the end of the Second World War. After the redenomination, one "new" lev was equal to 100 "old" levs. The lev was redenominated three times in the twentieth century.

http://www.investopedia.com/terms/r/redenomination.asp#axzz1X0EXmbq6

So either you are a blatant LIAR, a paid basher, or confused.

Iraqi is not RD'n, they are not giving out 1 new dinar per 1000 old dinar!!!!!!!!

if you don't know what you are talking about DON'T TYPE!!!!

[mdazahar]

No twisting necessary, it is what it is.

Try to spend a little time to understand the two to three year duration the CBI assigns to allow the two currencies to coexist.

Also, the ISX statement is entirely accurate.

That is what the term value neutral means.

No values have changed, but the currency is strengthened by the reduction of liability.

That is about as basic a rule of economic as there exists.

Nothing new here.

Absolutely correct about the 2 to 3 year co existence where the old currency will be honored at a rate of 1170:1, while the new currency is given the implied rate of 1.17:1.

Both have the same buying power.

This is why it is called a revenue neutral event.

This is about as plain as I can make it.

Only you can choose what benefits you best to believe.

I'm not convinced....LOL!

I agree with you that a value neutral will give you the same buying power...BUT CBI don't seem to agree with you..instead they keep saying ~ the citizen will have more purchasing power with the deletion of the zeros

[Aqua Dude]

No twisting necessary, it is what it is.

Try to spend a little time to understand the two to three year duration the CBI assigns to allow the two currencies to coexist.

Also, the ISX statement is entirely accurate.

That is what the term value neutral means.

No values have changed, but the currency is strengthened by the reduction of liability.

That is about as basic a rule of economic as there exists.

Nothing new here.

Absolutely correct about the 2 to 3 year co existence where the old currency will be honored at a rate of 1170:1, while the new currency is given the implied rate of 1.17:1.

Both have the same buying power.

This is why it is called a revenue neutral event.

This is about as plain as I can make it.

Only you can choose what benefits you best to believe.

the bashers are changing up their game now....now the game is...two seperate exchange rates for THE iraqi dinar.....wow

how could the currency have strengthen if the older currency is still weak????

you're not making sense, if i had a old 10k USD bill, you telling me i would only get 10 bucks becuause the US printed 10 dillar bills????

come on please!!

Edited September 4, 2011 by Aqua Dude

[Alex38]

Likee I have stated 1,000 times before: RV then RD. They win, we win.

[Ridewithme38]

Iraqi is not RD'n, they are not giving out 1 new dinar per 1000 old dinar!!!!!!!!

if you don't know what you are talking about DON'T TYPE!!!!

Actually according to the CBI....this is EXACTLY what they are doing....they are just giving the people a long time frame to do the exchange

[Dalite]

1 dinar has no zeros

1000 dinar has 3 zeros

1 new dinar equals 1000 old dinar

That is how a RD, if voted through parliament, would work.

The links you provided explain it perfectly

AGAIN, LIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIES this is not how redenominations work!!!!!!!

per investopedia

What Does Redenomination Mean?

1. The process whereby a country's currency is recalibrated due to significant inflation and currency devaluation. Certain currencies have been redenominated a number of times over the last century for various reasons.

Investopedia explains Redenomination

1. For example, the Bulgarian lev was redenominated due to inflation arising at the end of the Second World War. After the redenomination, one "new" lev was equal to 100 "old" levs. The lev was redenominated three times in the twentieth century.

http://www.investopedia.com/terms/r/redenomination.asp#axzz1X0EXmbq6

So either you are a blatant LIAR, a paid basher, or confused.

Iraqi is not RD'n, they are not giving out 1 new dinar per 1000 old dinar!!!!!!!!

if you don't know what you are talking about DON'T TYPE!!!!

[Aqua Dude]

Actually according to the CBI....this is EXACTLY what they are doing....they are just giving the people a long time frame to do the exchange

No not actually, and don't make claims without links

[WILLB]

according to the article Bondlady posted, looks like they do mean to do both but the RV will occur first, then the re-denomination over a few years ... so Dalite is right to a degree then ehh? just backwards Man, These langostas need to take a break and quite trying to break spirits...they are out in bushels lately

[mdazahar]

Actually according to the CBI....this is EXACTLY what they are doing....they are just giving the people a long time frame to do the exchange

CBI will never say...they are going to RV. That would be disastrous.

So they have to tell their people that their currency will have new value, new purchasing power, new LD without giving any indication of RV.