More PROOF not rumor of EXCHANGE RATE w/link

[zigmeister]

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

While this could happen I don't agree with it. Talk about confusing for the average citizen in Iraq they will have old dinar, new dinar and USD going at the same time, all with different rates. Turn in your old dinar worth toilet paper, and get new dinar at 1.17 what a deal! You would not get much new dinar. Then you have the USD at 1.00, turn it in on new dinar and still one would lose money. I would just say "screw it" I understand USD, I know what I can buy, that is what I will use. JMO. No expert here that is for sure.

Just one thought if they intended to do the RD as was done by other countries I really do not know why Maliki is using the counterfeit excuse to not go forward with this. Old currency would be toilet paper to the new currency, it would take alot of notes to even come out even. So wtf cares! Anyway thats thought as of today. Time will tell what is gonna happen. One thing I do hope it does RV, it may be modest but I am hoping for it to be. Come on RV! Please.....

[JWJW11]

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

Actually according to the CBI....it depends on which article you read. There was an article posted yesterday that said clearly the 2 step process will include a reavaluation then restructuring/RD. Didnt see to many lopsters on that thread. There is no doubt the articles can be interprted many different ways and I really think you have to look at what they are not saying.

Of course they have to RD their currency. The citizens of Iraq are not gonna carry around $25k dinar notes that will actually be worth the $25k USD or more! Comon think about it! They will RV then RD BUT THEIR NOT GONNA TELL YOU THAT!

[Aqua Dude]

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

ok, then tell me this....what are the 50, 250, and 500 going to be worth?

keep in mind CBI never stated that there are going to be 0.05 and dinar .025

and dont say that is the value of the coins,,,because cbi already said the coins are going to be worth 100 dinar

[mdazahar]

If Iraq actually RD, imagine the trillion dinars that would finds its way back to the CBI for cash in, what would that do to CBI reserves. I think most dinar holders would send their IQD back to CBI for cash in ( and will not exchange to the new dinar).

Edited September 4, 2011 by mdazahar

[Dalite]

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

I can certainly understand the confusion.

They don't take the most direct approach, but I believe the translation robots have something to do with it.

If there was only 100 pounds of potatoes at the market, and 100 people showed up with one dollar each, each person would take 1 pound home with them. This is a fairly well balanced economic model.

If there was only 100 pounds of potatoes at the market, and 100 people showed up with over 100,000 dollars each, it's nobody 's guess who gets what. This economic model is showing the balance slipping.

If there was only 1 potato at the market, and 100 people showed up with 100,000 dollars each, the potato wouldn't be worth eating.

More money chasing fewer goods causes the price of the goods to go up, but it really shows loss of buying power.

Shrinking the money supply from 30 trillion to 30 billion gives the remaining 30 billion greater buying power, even though they started with the same value as the 30 trillion had before the zeros were dropped.

However, since the economic model is now better balanced, they are now coming back in line with the amount of goods ( which did not change), and everyone stands a better chance of getting fries

I hope this helps, rather than hindering the discussion, as so many of the other responses.

Honestly, I don't want a RD before RV. I would prefer a much bigger pie, baked much more quickly.

I have to try to put myself in the CBI's position to try to understand their logic.

Although a RV may be forced to happen, it further magnifies the future difficulties of dealing with the traces of hyperinflation still riding on the currency.

It hasn't passed parliament, and is meeting with resistance.

Shabibi wants to do something; we all want it soon.

[mdazahar]

ok, then tell me this....what are the 50, 250, and 500 going to be worth?

keep in mind CBI never stated that there are going to be 0.05 and dinar .025

and dont say that is the value of the coins,,,because cbi already said the coins are going to be worth 100 dinar

One more thing...CBI said they are going to use fils back. How much is that going to worth LOL! ( 1 dinar = 1000 fils).

[trooper]

The Future of Iraq Project concerning New currency, Fiscal and monetary policies..

https://docs.google.com/viewer?pid=explorer&srcid=0B91ioJ5gtRJCYmJjMWRlMDUtYzczNS00NzNlLTg2YmMtMGE0M2NmMTQxOWY1&chrome=true&docid=a633196371bc09bf971d4fa850246ab1%7Ce2e19c4d8ea8fb8927fb20f32773c83b&a=bi&pagenumber=14&w=800

[mdazahar]

I can certainly understand the confusion.

They don't take the most direct approach, but I believe the translation robots have something to do with it.

We are in agreement here...so what do you think is their 'not the most direct approach' approach to RV?

[zigmeister]

The Future of Iraq Project concerning New currency, Fiscal and monetary policies..

https://docs.google.com/viewer?pid=explorer&srcid=0B91ioJ5gtRJCYmJjMWRlMDUtYzczNS00NzNlLTg2YmMtMGE0M2NmMTQxOWY1&chrome=true&docid=a633196371bc09bf971d4fa850246ab1%7Ce2e19c4d8ea8fb8927fb20f32773c83b&a=bi&pagenumber=14&w=800

Trooper,

The link did not work. Gave me "bad request" report.

[Dalite]

ok, then tell me this....what are the 50, 250, and 500 going to be worth?

keep in mind CBI never stated that there are going to be 0.05 and dinar .025

and dont say that is the value of the coins,,,because cbi already said the coins are going to be worth 100 dinar

They would get the same treatment; divided by 1000 (3 zeros)

50 becomes .05

250 becomes .25

500 becomes .50

This is textbook RD here. Nothing here that I have created.

Again, this measure has not passed parliament, and may not.

However, this is exactly what the CBI has said for the past 5 years, and what they are saying in the article you posted.

Shabibi can let the exchange rate slip to 1000:1, or can do a concurrent RV of $.14 to give the 1:1 rate that the article mentions.

This has been discussed many times before, from a number of angles.

Sorry, I sincerely wish I could make it out to be something else.

People can choose to call it smoke and mirrors, or they can take it at face value.

Nothing that I or anyone else can post is ever going to change that.

Edited September 4, 2011 by Dalite

[trooper]

Trooper,

The link did not work. Gave me "bad request" report.

I had to use google docs to open it myself... Or you can go to currency hound and go to the left side of the home page to the Iraq project and go to page 14.. I think that is the beginning of Iraq currency.. If this helps

[Aqua Dude]

They would get the same treatment; divided by 1000 (3 zeros)

50 becomes .05

250 becomes .25

500 becomes .50

This is textbook RD here. Nothing here that I have created.

Again, this measure has not passed parliament, and may not.

However, this is exactly what the CBI has said for the past 5 years, and what they are saying in the article you posted.

Shabibi can let the exchange rate slip to 1000:1, or can do a concurrent RV of $.14 to give the 1:1 rate that the article mentions.

This has been discussed many times before, from a number of angles.

Sorry, I sincerely wish I could make it out to be something else.

People can choose to call it smoke and mirrors, or they can take it at face value.

Nothing that I or anyone else can post is ever going to change that.

now show me where it says that there will be .05 dinar notes in existence?

[WILLB]

he heh

[Dalite]

We are in agreement here...so what do you think is their 'not the most direct approach' approach to RV?

Unfortunately, even their early documents refer to redenomination as revaluation.

If you go to the Iraqi news sources and do a search for revaluation, it will return articles where the CBI expresses their plan to ReDenominate.

Introducing the new currency at a new rate is a revaluation.

The dinar increasing in value over the years from 4000:1 to the current 1170:1 was a large revaluation; it just didn't happen at one time.

Any country that pegs it's currency to another country's revalues every time the other country's money gains or looses value.

The kind of RV from $.00086 to $3.22, has never happened before.

Yes, Kuwait ReInstated their currency.

I would love to see Iraq do the same.

That is a very slim possibility, but it is still more likely than the RV we were promised by those who profit from Dinar sales.

Again, nothing has passed, anything can happen.

I am terminally guilty of wanting to understand the options.

[Dalite]

now show me where it says that there will be .05 dinar notes in existence?

Since the new currency isn't printed yet, it is hard to Second guess.

However with the mention of reintroducing coin, it would be an excellent size

That would be 1/20th of a dinar, which should come out as 200 fils

It would have the same value as the old 50 dinar note.

Having said that, notes that are a fraction of British pound have been very prevalent.

A 5 Bob note, 10 Bob note, these were very common when I lived in Jamaica; shortly after their independence.

They have indicated a desire to replace the dollar with the dinar, and seem to have a good understanding of all US denominations.

What would be the advantage of not having coin or note equal to the nickel the may already be getting in change?

I ask, as I do not know, but it would seem to meet their objective..

We are beginning to grasp at straws here, aren't we?

I don't believe I have led you astray on any thing I have posted. If there are inaccuracies, I will admit to them, correct them, or produce the source that they came from. All of this is right out of the records of history.

Again, RD will not occur, until voted through parliament, or Shabibi exercises the CBI's autonomy.

Both are under question.

At this point, anything is possible, and we should try to be as accurate as we can in describing those possibilities.

[odogtriever]

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!!!!

I want to agree with you also, but it says the 100 lev became one lev. I would not be happy if I went into the bank and I exchanged my 100 dollar bill for a one dollar bill. Unless that one dollar bill will now buy me a lift ticket and lunch. Both sides are so sure they are reading this right, that I am more confused than ever.

I want to know Adam why you think an RD is unlikely.

[flaco]

PLEASE somebody help me undestand,if i have 250.000 dinar and they take 3 zeros out,i have 250,right?at exchange rate of 1 per 1 thats 250 dollars how can this be good?..

[Dalite]

PLEASE somebody help me undestand,if i have 250.000 dinar and they take 3 zeros out,i have 250,right?at exchange rate of 1 per 1 thats 250 dollars how can this be good?..

Probably best that you ask the person that promised you it would be worth more than $750,000, and that it would not l-o-p.

We have thoroughly proven that we can't answer that question through discussion.

But, we are all in the same boat, with the same questions...

[Bumper64]

If we are having this much trouble thying to figure this mess of rd/LOP can you imagine what the Iraqi people are going to do when they are faced with all this change?

I would think it is going to have to be really simplified for the iraqi people seeing that most are uneducated. IMO

[Aqua Dude]

Probably best that you ask the person that promised you it would be worth more than $750,000, and that it would not l-o-p.

We have thoroughly proven that we can't answer that question through discussion.

But, we are all in the same boat, with the same questions...

no my friend, you have proven, like many others, that you cannot provide any credible sources that state a LOP or removal of three zeros from the physical paper currency will occur

I, on the other hand, have provided much evidence to prove the point that three zeros will be removed from the exchange rate ONLY

[Francie26]

But Francie! have you seen what they have done to our parade?

Rain!! Rain!! Rain!!! That's all it is!! It's still a great parade, and it's still on the march to the end of Main Street and then turn and circle back around to the city park.

[zigmeister]

Well....there was a post on here from a soldier(I think) who is in Iraq. Cannot remember the post, but he said he spoke with an Iraqi vendor on base who was counting his dinar. The soldier teased the vendor by making a comment as to his dinar being worth maybe three dollars. The vendor told him he had heard his dinar was going to be worth more.

So when I feel doubtful about all this, I think the story revealed something important. The dinar the man held in his hand was this dinar, and it was this dinar that would be worth more than it is now. Anyhoo that is how I remember the story. For me it reflected as to what the people understood was going to happen. Sounded like an RV to me. JMO

[JWJW11]

no my friend, you have proven, like many others, that you cannot provide any credible sources that state a LOP or removal of three zeros from the physical paper currency will occur

I, on the other hand, have provided much evidence to prove the point that three zeros will be removed from the exchange rate ONLY

Nice work Aquadude! But you will never convince any of the lopsters of anything except of talk of an RD. They arent capable of any other thought process. We the people who understand the whole picture and its not limited to an RD. Of course they will RD. They have to BUT the RV will come first! The CBI is simply telling the citizens they are removing the large notes out of circulation as it is totally unconventional to carry around such large notes. Alot is said about the Iraqi citizens being confused about this...LMAO.....its the AMERICAN LOPSTERS THAT ARE CONFUSED!!!

[Aqua Dude]

Nice work Aquadude! But you will never convince any of the lopsters of anything except of talk of an RD. They arent capable of any other thought process. We the people who understand the whole picture and its not limited to an RD. Of course they will RD. They have to BUT the RV will come first! The CBI is simply telling the citizens they are removing the large notes out of circulation as it is totally unconventional to carry around such large notes. Alot is said about the Iraqi citizens being confused about this...LMAO.....its the AMERICAN LOPSTERS THAT ARE CONFUSED!!!

Kudos my friend!

[Shymmy]

I think it's funny how on nearly every newer thread that xyzzy has gone more than out of his/her way to try and say that the Dinar will RD or LOP. If you are so convinced that it will not RV whatsoever, why are you even on Dinar Vets? You claim to be invested, why not sell now cut your losses and move on? Or here is an even better question: Why not start your own thread on how you believe the Dinar will only RD and supply proof with reasonable explanation? I may not give you the same attention you seem to get posting on threads meant to be positive info, but it will indeed give you a chance to show your point of view for people who actually want to read your point of view. This question is not meant to be an attack. But if you indeed take it that way....I could really care less and you would be proving my point and answering a question everyone probably has pondered. Are you someone who just came on to troll the forum?