Popular Post Carrello Posted September 10, 2011 Popular Post Report Share Posted September 10, 2011 Kaperoni Chat Friday 9/9/2011 4pm CST [kaperoni] Hi everyone. Welcome to DinarAlert chat. [kaperoni] Please no typing…to prevent yourself from getting kicked while your sitting idle, periodically click the “Online” button above the list of names. [kaperoni] Let’s get started. [kaperoni] This past week has been absolutely nuts with articles about the dinar. From the CBI to every so-called economist has chimed in on the “delete 3 zeros.” [kaperoni] I think that is good for us. IMO, the more attention, the sooner the process has to start. [kaperoni] Today I am going to recap a few issues and point out a few articles that I think tell us a great deal heading into the weekend. Today’s chat should be a good boost we all need [kaperoni] If we go back to July, we all remember what I talked about regarding the 3rd Conference of Ambassadors July 17-24th? [kaperoni] That in essence, Shabibi was teaching these Ambassidors about his “delete 3 zero project” and once the event ended, they would all be going back to there respective countries to initiate their marching orders. [kaperoni] To create awareness for the pending revaluation of the dinar. [kaperoni] So now, as we are in September, we see some of those efforts coming to fruition. In recent days, numerous articles are being published outside Iraq, and at least videos have surfaced talking about the pending revaluation. [kaperoni] So things are really heating up. [kaperoni] He are a few quotes from articles the last few days that clears up the picture… [kaperoni] Talking about inflation…”Iraq's central bank is planning to solve the issue by completely re-valuing its Dinar.” [kaperoni] “The central bank says complete currency reform will take 2 to 3 years.” [kaperoni] And another article… [kaperoni] “Finance Committee received a detailed report of the Central Bank of the process of deletion of zeros from the Iraqi currency.” [kaperoni] “a long meeting included Central Bank Governor Sinan Shabibi and many of the advisers and members of the Finance Committee." [kaperoni] "Noting that the meeting resulted in an agreement on the mechanism of deletion of zeros from the currency and discuss their impact on the currency. " [kaperoni] "The process of switching process as a result of the deletion of zeros will cost approximately $ 150 million and would continue the process of switching to two years including six months to provide the services necessary [kaperoni] for the printer, the currency and the year and a half to change them gradually through the deal." [kaperoni] Now, [kaperoni] this is good news… [kaperoni] What this last quote does is gives us a confirmation of what we have been saying… [kaperoni] when there is an article that comes out and says the project will take 2-3 years, they are confirming to us, not the RV, but the events within Iraq with the transition. [kaperoni] The actual money supply…as the larger 3 zeros notes find there way into banks, the new smaller denoms will come out. This is a process that will take time….but this process has nothing to do with us. [kaperoni] Let’s go over some things that we can conclude from these quotes… [kaperoni] 1. At least 2-3 years the larger 3 zeros notes will be valid in country. We can make an assumption that also will apply to us. So that gives us a really no time limit to cash out. [kaperoni] 2. They cannot introduce the smaller denominations without at least an “initial” rate change. This is obvious as these new notes have little value with the current exchange rate. [kaperoni] 3. Not changing the rate, would cause mass speculation and buying of dinar as the rate rises over time. [kaperoni] 4. Therefore, we can conclude, that an initial rate (above the USD and within benefit for these new lowers notes has to take place. This, as we have discussed, is the RV. [kaperoni] Lastly, most of us only care about this initial RV rate. That we will all cashout at that time. But these statements are encouraging for those who may wish to wait a bit to see if an additional rate increase comes. [kaperoni] Lets move on to some more articles [kaperoni] Another article… [kaperoni] “The Chairman of the Board of Directors of the Bank Economics Hussam Ali Obeid to the need for the project of deleting three zeros from the Iraqi currency, which would increase the Iraqi dinar exchange rate, confirming that the lift did not cause inflation." [kaperoni] “He ruled the cause the project to delete the zeros height of the inflation rate, but lead to a revaluation of the dinar against international currencies. “ [kaperoni] More good stuff there… [kaperoni] Two great quotes…telling us again this is a revaluation! And the dinar will rise against international currencies! (USD). [kaperoni] And this quote… [kaperoni] “Commented Chairman of the Bank of the economy on the statements made by some officials and specialists refusing to do delete the three zeroes from the currency: saying: society where many opinions and ideas and all the specialist can be posed freely, “ [kaperoni] "but the project became a reality" [kaperoni] "and exists and is binding on the State to accomplish" [kaperoni] "because it would reduce the monetary bloc, adding that the project to delete the zeros will affect the economy, "yes" through the ease of trading in the market and carry and transfer." [kaperoni] Now, [kaperoni] That is a confirmation that this is going forward despite the GOI issues! [kaperoni] Now another quote from an economist.. [kaperoni] “He noted that the deletion of these zeros will reduce inflation and the value of the dinar will be compatible with the value of the dollar, giving greater value of the Iraqi dinar which does not depend only on the subject of the deletion of zeros," [kaperoni] "or the survival of the zeros.” [kaperoni] He spells out the initial rate… [kaperoni] “and the value of the dinar will be compatible with the value of the dollar” [kaperoni] Another quote from this economist .. [kaperoni] “not to fear of citizens from the process of removing the zeros from the Iraqi currency, stressing that the Iraqi dinar will be stronger than what it is now" [kaperoni] "there is no need to do to transfer the money into dollars” This is our first confirmation in today’s chat there there is no LOP or devaluing of the dinar notes. [kaperoni] This is exciting stuff everyone! [kaperoni] Now another great article came out yesterday…talking about the CBI’s reserves…This is key. [kaperoni] “stressing that the bank will continue to raise hard currency reserves to achieve exchange rate acceptable to the Iraqi dinar against other currencies, according to the Chancellor pointed out that this reserve is the result of inflows of foreign currency to Iraq” [kaperoni] You can see what they say, they are raising these reserves to meet the requirements to meet the exchange rate they plan to have with the dinar. [kaperoni] Good stuff! [kaperoni] Now, [kaperoni] Today a great article [kaperoni] and i will post the whole thing [kaperoni] cause it so good [kaperoni] I will break it down [kaperoni] Deletion of zeros from Iraqi dinar raises fears of Parliamentarians 09.09.2011 [kaperoni] Super article! [kaperoni] here is a quote.. [kaperoni] “With the arrival of a bill deleting zeros from Iraqi dinar to the Iraqi Council of Representatives, began the debate in parliamentary circles about the feasibility of adoption of this project at the moment, and raised questions about the assurances of [kaperoni] the Central Bank about the economic benefits of the move.” [kaperoni] “The Rapporteur of the Committee of Finance in the Iraqi Council of Representatives Rep. Najiba Najib, said that the Finance Committee discussed with the governor of the central bank and general managers [kaperoni] in the bank bill deleting zeros from the dinar and asked to prepare a study on the reasons for its adoption and its advantages on the Iraqi economy, and drew Najiba to the fears of the high proportion of inflation. “ [kaperoni] Now [kaperoni] This quote is great cause it’s a confirmation that the meeting took place with Shabibi and the Finance Committee. [kaperoni] Stick with facts! [kaperoni] Another quote… [kaperoni] “Deputy Governor of the Central Bank of the appearance of Dr. Mohammed Saleh, said Radio Free Iraq that the draft law which was submitted to both the government and the parliament, includes all the details of the legislative [kaperoni] and executive for the subject of deleting zeros from the dinar and the positive economic effects which would leave if passed, and attributed the fears of some parliamentarians to ignorance the subject of Representatives or the presence of personal motives that lie behind the concerns of politicians or citizens. “ [kaperoni] Great Stuff! [kaperoni] Here is more from this article… [kaperoni] Its getting better [kaperoni] stick with me [kaperoni] “The deputies considered the application of the law to delete the zeros of the Iraqi dinar as negative at the present time in the absence of security and economic stability in Iraq. Which is confirmed by the Rapporteur of [kaperoni] the Committee of Finance of the House of Representatives by Rep. Najiba called to the need for economic reforms to increase the value of the Iraqi currency, instead of deleting the zeros. “ [kaperoni] “Economic expert Hilal Taan agreed with the opinion of the Iraqi Central Bank's view of the importance of deleting zeros from the dinar, and called deputies who worry about the adoption of this law to reduce their salaries instead of blocking a law that serves the Iraqi economy.” [kaperoni] “And ruled that the deputy Najib Najiba law shall be adopted during the year due to concern of the Finance Committee of the Federal budget for the year 2012, and pointed to the fears of parliamentarians from the exploitation of the law to delete the zeros by Alsemsarh and currency dealers and counterfeiters.” [kaperoni] “Hilal, an economist believes that fears of war. Parliamentarians have no basis for ruling out fraud for the new currency or the exploitation of the switch the old currency new currency by the counterfeiters. “ [kaperoni] “On his part, appearance of the central bank adviser Mohammed Saleh lamented the existence of currents constantly obstruct and impede the implementation of any project aimed at Iraq's progress.” [kaperoni] “Expressed by citizens and their concerns on the morning of the deletion of zeros currency they are dealing with for decades. However, 'Abdul Hakim Jassim considered a positive step to delete the zeros in the event of currency maintained in monetary terms with the ease of handling. “ [kaperoni] ok [kaperoni] at the bottom of this great article comes the homerun. [kaperoni] Here is the best quote ever!… [kaperoni] I am breaking it into lines for impact! [kaperoni] lets do it [kaperoni] “Appearance of the central bank adviser Mohammed Saleh assured the citizens [kaperoni] that the Iraqi currency will retain its value and that the Iraqi per capita income will not be affected by deleting the zeros, [kaperoni] indicating that the process of switching the currency new currency may take a year or more according to the law to be approved by the House of Representatives.” [kaperoni] Wow is all i can say! [kaperoni] http://translate.google. ··· 702.html [kaperoni] link to article [kaperoni] This last quote has been stated before, but cannot be overlooked…They are stating... “the iraqi currency will retain it’s value” [kaperoni] I hope you understand what that means! [kaperoni] That means that there is no chance that these larger notes will be LOP’d as some keep stating. A 25,000 dinar note will be worth 25,000 dinar. [kaperoni] As for the exchange rate, that is yet to be seen. [kaperoni] Have a great weekend everyone….This is coming soon. Sit tight, stay with the truth, and the facts…were very close to seeing this happen. [kaperoni] Done. September 9, 2011 at 5:32 PM 20 Link to comment Share on other sites More sharing options...
AoK Posted September 10, 2011 Report Share Posted September 10, 2011 Thanks for the post Carrello! That sounded pretty encouraging! 1 Link to comment Share on other sites More sharing options...
Yakima Posted September 10, 2011 Report Share Posted September 10, 2011 Thank you for posting. I know it will RV, but it's good to hear a logical breakdown of the articles confirming my opinion! Link to comment Share on other sites More sharing options...
paj1985 Posted September 10, 2011 Report Share Posted September 10, 2011 *Rubbing my hands together like del boy!!* lol thankyou Link to comment Share on other sites More sharing options...
YukonJohn Posted September 10, 2011 Report Share Posted September 10, 2011 Thanks for posting Carello. Very, very encouraging to say the least. We're definitely getting closer and this post sure snuffs all that LOP talk. GO RVVVVV!!!! Link to comment Share on other sites More sharing options...
kjwayne Posted September 10, 2011 Report Share Posted September 10, 2011 I like it!! Link to comment Share on other sites More sharing options...
gotyourback Posted September 10, 2011 Report Share Posted September 10, 2011 Wow, what a encouraging post. Packed with great intel. Thanks for the post. Link to comment Share on other sites More sharing options...
Happy1 Posted September 10, 2011 Report Share Posted September 10, 2011 Carello........Awesome post, I'll have couple beers , cheers to you.......................Go RV Link to comment Share on other sites More sharing options...
GinaG Posted September 10, 2011 Report Share Posted September 10, 2011 Thank you Carrello for the post. Go RV! Link to comment Share on other sites More sharing options...
oldtown Posted September 10, 2011 Report Share Posted September 10, 2011 THANK YOU VERY MUCH FOR THIS POST Link to comment Share on other sites More sharing options...
NWGUY Posted September 10, 2011 Report Share Posted September 10, 2011 Great post!! A lot of this is exactly what I have been posting myself for a while. Iraq is going to make this simple. They will revalue at just over a dollar to start, to get their people using the dinar, instead of the us dollar. They will print and add their new currency with the old currency, and down the road, the larger notes will be gone, and they are all done. Any other way would be confusing for the Iraqi people, and would not help anyone! This is great confirmation to my understanding, and we will all see a revaluation very soon! Go RV!!!! 6 Link to comment Share on other sites More sharing options...
Carrello Posted September 10, 2011 Author Report Share Posted September 10, 2011 YW. I am glad I can put a smile on some Dinarian faces. I know I will have a better weekend thanks to Kaperoni. 1 Link to comment Share on other sites More sharing options...
Butifldrm Posted September 10, 2011 Report Share Posted September 10, 2011 Good news! Let's just get this thing done! I understand where all the lopsters are coming from, but this sounds promising. I feel the real news is coming out now. IMO, parliament has the power to vote on the lower denominations. They over the years have been paid well. I am sure they hold many 000 and would suffer from a redenomination/ LOP, therefore I don't think they would vote to release the new lower denoms if there was a lop. JMO If there is one thing i have learned through all of this, the GOI are all about themselves. 3 Link to comment Share on other sites More sharing options...
Shelley Posted September 10, 2011 Report Share Posted September 10, 2011 Thanks for the post Carrello... Kaperoni and BondLady are great at breaking down these Articles !!!! All sounds great to me 2 Link to comment Share on other sites More sharing options...
DRV1804 Posted September 10, 2011 Report Share Posted September 10, 2011 YW. I am glad I can put a smile on some Dinarian faces. I know I will have a better weekend thanks to Kaperoni. Thank you my DV friend!! I have so much respect for your post's and opinion on every thread...great way to start the weekend!! NOW LETS DO THIS!!! GO RV BABY!!!!!! 1 Link to comment Share on other sites More sharing options...
R2d2dc Posted September 10, 2011 Report Share Posted September 10, 2011 I am so confused now, this is the thought that I just had. Now this sounded to me as though they are saying that the 25,000 Dinar note won't loose it's value, soooooooo it is currently valued at about $21.50. Does this mean that this note will be worth that amount after they do whatever they do (R/V or R/D) and the new 25 Dinar note will be worth the same, or if they revalue the 25,000 and 25 would both be $25 as they move to the 1 to 1 value for the new notes and carry the 25,000 along at the 25 rate. Sounds like a lop to me, in this understanding. Hope I'm really wrong and am reading this completely wrong. It just crossed my mind in this reading. Please don't Neg me, I'm just confused and asking a question from my interpretation. You that know me know I don't support the lop theory Thanks, r2 3 1 Link to comment Share on other sites More sharing options...
Driver Posted September 10, 2011 Report Share Posted September 10, 2011 I am so confused now, this is the thought that I just had. Now this sounded to me as though they are saying that the 25,000 Dinar note won't loose it's value, soooooooo it is currently valued at about $21.50. Does this mean that this note will be worth that amount after they do whatever they do (R/V or R/D) and the new 25 Dinar note will be worth the same, or if they revalue the 25,000 and 25 would both be $25 as they move to the 1 to 1 value for the new notes and carry the 25,000 along at the 25 rate. Sounds like a lop to me, in this understanding. Hope I'm really wrong and am reading this completely wrong. It just crossed my mind in this reading. Please don't Neg me, I'm just confused and asking a question from my interpretation. You that know me know I don't support the lop theory Thanks, r2 I am convinced that nobody knows how this will all work out and you are no more confused than the next person. By no stretch of the imagination could I ever be confused as a person who is "In the know". Having said that, I have always hoped for a revaluation of the Dinar that would coincide with the simultaneous introduction of lower denominations. Meaning, if they revalue the Dinar to be on par with the Dollar – it would become impractical to walk around with a single bank note that is worth 25,000, let alone a wallet full of them. 25K Dinar would equal 25K Dollars – whether it be a single note with a face value 25K Dinar or 25,000 single Dinar notes with a face value of 1 Most rationally thinking people would put the bulk of it in the bank and only carry a few hundred on their person for daily expenses. 1 Link to comment Share on other sites More sharing options...
Biker Posted September 10, 2011 Report Share Posted September 10, 2011 Great Post Carrello, hope all read this it explains to most who dont understand what the deal is.This one is rite on the money. For thows who are confused, Read it over slowly so you understand. They have allways said that the money we hold will never lose its value. Even if it changes in country it will hold its value. a 2500 note will still be worth 2500. Link to comment Share on other sites More sharing options...
seasidepete Posted September 10, 2011 Report Share Posted September 10, 2011 *Rubbing my hands together like del boy!!* lol thankyou Del Boy here, rubbing my hands,ha. Greetings from Blackpool. Seasidepete Link to comment Share on other sites More sharing options...
RodandStaff Posted September 10, 2011 Report Share Posted September 10, 2011 Very good information from Kaperoni, it confirms much of what we have been hearing... no lop, long time to cash in, good rate... maybe even the highest in the region according to some articles I have seen! Yes, it may not be immediate, but ya never know, they just might surprise us. Come on boyz... gitter dun!!! Thanks for the great post Carrello.. made our weekend! Now if we could just relax enough to sleep! GO RV Already Baby!!! 2 Link to comment Share on other sites More sharing options...
Nottoolate Posted September 10, 2011 Report Share Posted September 10, 2011 Great post with my morning coffee. Link to comment Share on other sites More sharing options...
bikertrash Posted September 10, 2011 Report Share Posted September 10, 2011 Is it time to start planning my trip home?????????? Link to comment Share on other sites More sharing options...
buffalowade1 Posted September 10, 2011 Report Share Posted September 10, 2011 (edited) WOW thats great news . Thanks for breaking it down for everyone. I also noticed there are no debunking lopster comments. GO RV!!! Edited September 10, 2011 by buffalowade1 Link to comment Share on other sites More sharing options...
GMartin Posted September 10, 2011 Report Share Posted September 10, 2011 I am convinced that nobody knows how this will all work out and you are no more confused than the next person. By no stretch of the imagination could I ever be confused as a person who is "In the know". Having said that, I have always hoped for a revaluation of the Dinar that would coincide with the simultaneous introduction of lower denominations. Meaning, if they revalue the Dinar to be on par with the Dollar – it would become impractical to walk around with a single bank note that is worth 25,000, let alone a wallet full of them. 25K Dinar would equal 25K Dollars – whether it be a single note with a face value 25K Dinar or 25,000 single Dinar notes with a face value of 1 Most rationally thinking people would put the bulk of it in the bank and only carry a few hundred on their person for daily expenses. I posted an research about how Kuwait did it and they used the two series of money that they had in play during the RV of their country. Each series kept it's own value was not compared to the new series. So for example if you had a 25K note, and then you had a 25note you would have less money because its like saying you have a 10 dollar bill but you want it worth a 100 dollar bill. They will most likely keep these series value separate. Follow me? You would need 1000 of the 25 notes to equal the 25k note....TADAA! Link to comment Share on other sites More sharing options...
B-gap Posted September 10, 2011 Report Share Posted September 10, 2011 Not to be a negative Nancy but I don't understand the significance of this statement: “the iraqi currency will retain it’s value” as being conclusive evidence dispelling even the idea of a 'lop". If there was to be a "lop" the buying power aka value would not change hence it would be retaining its value, unless I'm just retarded. Link to comment Share on other sites More sharing options...
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