Revaluation of the Iraq Dinar Soon to be Traded on Forex

[SurfingTheDinarWave]

If that's what they mean, why do they refer to what Turkey did as deleting three zeros? Why do they say deleting three zeros is going to make their 30 trillion dinar into 30 billion dinar?

What you're saying is a guru lie, and you and a lot of other people fell for it.

They're going to back their dinar with more dinar?

They're going to cash in the 12 trillion dinar outside the country with more dinar?

Come on, think about it.

their dinar rv's and is backed by a basket of currencies which will be stronger in value because of it, they can use that dinar to get larger amounts of that basket for less, think about what you just said you contradicted yourself!

[FrankieV]

The article that Sonny gave states the reserve is in IQD:

"The Central Bank has 58.9 trillion IQD ($50 billion USD) in financial reserves in order to keep the Dinar's exchange rate. The government can't legally exploit them to balance the budget", Quraishi said.

Read more:

It gives it in both USD and IQD. NUMEROUS other articles have stated that its in USD, Euros, and GBP. And it doesn't matter anyway, because even if its in IQD his point is still moot.

yep i think you got it, they are going to drive over here from iraq and hand deliver dinar to all with dinar, i dont even have a response for what your implying it makes no sense, we will get payed through bank transfers, and however it was worked out between iraq and our fed, your seriously making no sense.

Lol, I make no sense, but your assertion that Iraq can have a 30 trillion USD money supply, and is going to pay out HALF of all their known oil reserves to outside interests and get their own hyperinflated currency back in exchange, makes perfect sense. Sonny, you have ZERO understanding of how currency or even basic economics work, and that's a fact.

Look up every country in the ME. Look up how much currency they have in circulation, and look up how much that currency is worth. Then come back here and explain to everyone how Iraq can possibly have 8-12 trillion USD worth of currency.

[sonny1]

i am not trying to be a cocky idiot, but we never had the number of dinar in reserves. it was never know

iraq would never lop 58 trillion in dinar, that is the most obvious, apparent situation, so the loppers, who think they are smarter than everyone, are wrong, they would never lop.

you guys have to understand, they will rd, after the dinar has worth, so all these articles are correct, they will rd, but only after the raise the value, and clear all the dinar off the streets, its pretty weasy to understand, the loppers are so overbearing, its hard to see reality.....

sorry loppers....but its true

[Francie26]

It's not illegal, and it is usually how RDs work, it's not possible to get all the old currency off the streets instantly. Read up on Turkey or one of the numerous other RDs that have happened.

Maybe this will explain it. You go shopping and buy a pineapple. The value of the pineapple is 25 dinar. You can pay for the pineapple with either a 25 dinar note, or a 25,000 note because they both have the same market value.

[FrankieV]

their dinar rv's and is backed by a basket of currencies which will be stronger in value because of it, they can use that dinar to get larger amounts of that basket for less, think about what you just said you contradicted yourself!

Why would the UST want to give them MORE USD when they already have, according to Sonny, 8-12 TRILLION USD? Your reasoning is completely circular. You're saying it's worth more because it's backed by other currencys that are worth more because the dinar is worth more. It's complete nonsense.

[Laid Back]

We will be millionaires

[sonny1]

It gives it in both USD and IQD. NUMEROUS other articles have stated that its in USD, Euros, and GBP. And it doesn't matter anyway, because even if its in IQD his point is still moot.

Lol, I make no sense, but your assertion that Iraq can have a 30 trillion USD money supply, and is going to pay out HALF of all their known oil reserves to outside interests and get their own hyperinflated currency back in exchange, makes perfect sense. Sonny, you have ZERO understanding of how currency or even basic economics work, and that's a fact.

Look up every country in the ME. Look up how much currency they have in circulation, and look up how much that currency is worth. Then come back here and explain to everyone how Iraq can possibly have 8-12 trillion USD worth of currency.

i am sure you are a great guy-gal, but i am done debating you, you are making no sense, i told you what was going to happen, i would think a thanks would in order, but instead you want to argue, and make no sense at all

good luck

[FrankieV]

Maybe this will explain it. You go shopping and buy a pineapple. The value of the pineapple is 25 dinar. You can pay for the pineapple with either a 25 dinar note, or a 25,000 note because they both have the same market value.

Yep, that's how it works. An old 25,000 note (IQD) has the same value as a new 25 note (NID, or whatever currency code they decide on). That's exactly how it worked in Turkey and all the other countries that have done it.

[Carrello]

Too bad you didn't forget what you "learned" from gurus.

What does delete three zeros mean, sonny?

Someday you'll figure it out. Either when they lop, or when its another five or ten years down the road and they still haven't RVd. I hope you're still around then, it'd be a shame if you weren't.

Who are these economic professors that say that Iraq can have an 30 trillion USD worth of dinar? What university?

.

You don't know who Sonny is, do you?

LMAO! Keep it up, this is the most fun I have had all day

[FrankieV]

i am sure you are a great guy-gal, but i am done debating you, you are making no sense, i told you what was going to happen, i would think a thanks would in order, but instead you want to argue, and make no sense at all

good luck

Look up every country in the ME. Look up how much currency they have in circulation, and look up how much that currency is worth. Then come back here and explain to everyone how Iraq can possibly have 8-12 trillion USD worth of currency that you say is outside the country, let alone 30 trillion total.

.

You don't know who Sonny is, do you?

LMAO! Keep it up, this is the most fun I have had all day

I know exactly who sonny is. He's a guy that everyone loves because he tells them what they want to hear, instead of the truth.

Remember that, when what he says never comes to pass.

[SurfingTheDinarWave]

It gives it in both USD and IQD. NUMEROUS other articles have stated that its in USD, Euros, and GBP. And it doesn't matter anyway, because even if its in IQD his point is still moot.

Lol, I make no sense, but your assertion that Iraq can have a 30 trillion USD money supply, and is going to pay out HALF of all their known oil reserves to outside interests and get their own hyperinflated currency back in exchange, makes perfect sense. Sonny, you have ZERO understanding of how currency or even basic economics work, and that's a fact.

Look up every country in the ME. Look up how much currency they have in circulation, and look up how much that currency is worth. Then come back here and explain to everyone how Iraq can possibly have 8-12 trillion USD worth of currency.

actually, you missed the point because when you and I exchange our IQD they will keep the new notes and destroy the rest which will reduce the supply they have in circulation they have to RV then they will spend 2-3 years taking back the large notes and releasing the small notes to their country...that is how you do it, it's the only way to do it they rv at $1 then slowly as they destroy the large supply as they come in they raise the value over 2-3 years to it's true value before it no longer has a value in the market because they have them all in the bank never to be seen again, very simple process which the lopsters make a mountain out of a mole hill!

[Carrello]

yep i think you got it, they are going to drive over here from iraq and hand deliver dinar to all with dinar, i dont even have a response for what your implying it makes no sense, we will get payed through bank transfers, and however it was worked out between iraq and our fed, your seriously making no sense.

carrello, thats how they are going to cover the rv, it is really simple to figure out now, dont let the cindy loppers get you down, its pretty clear, and obvious.

Oh, hey. I was sticking up for you. Nothing more, nothing less. I just brought over the quote backing up what you had said about the reserves being in dinars after whats-his-name said the reserve was not in dinars.

A LOPer I am not. Geez. I only eat Cherry Garcia!

Peace. Namaste, Om Dao.

Edited September 17, 2011 by Carrello

[FrankieV]

actually, you missed the point because when you and I exchange our IQD they will keep the new notes and destroy the rest which will reduce the supply they have in circulation they have to RV then they will spend 2-3 years taking back the large notes and releasing the small notes to their country...that is how you do it, it's the only way to do it they rv at $1 then slowly as they destroy the large supply as they come in they raise the value over 2-3 years to it's true value before it no longer has a value in the market because they have them all in the bank never to be seen again, very simple process which the lopsters make a mountain out of a mole hill!

Little problem with your math. If theres 8-12 trillion dinar outside Iraq, as your sonny1 says, it will take about 75 years to pump enough oil to pay it off. Not 2 or 3.

Even if they quadruple their output it will take 20 years.

Iraq cannot even dream of having a money supply worth trillions of USD for even a second, let alone 20 years.

Sorry, try again.

[Francie26]

To complete my thought--

Maybe this will explain it. You go shopping and buy a pineapple. The value of the pineapple is 25 dinar. You can pay for the pineapple with either a 25 dinar note, or a 25,000 note because they both have the same market value.

But if you go shopping and buy a car, and if you can pay for the car with either a 25 dinar note or a 25,000 dinar note, that shows the value of the money on the marketplace.

Will it buy a car or only a pineapple? Either, depending on the market value of the dinar. If we assume the market value of the pineapple is equal to the 25 dinar note or 25,000, which are also equal in value, either of them will buy that pineapple. But if inflation sets in and the market value of the dinar rises, then perhaps that same 25 dinar note or the same 25,000 dinar note, still equal in value, will buy the car, which is equal in value to either of those dinar notes. .

[sonny1]

Little problem with your math. If theres 8-12 trillion dinar outside Iraq, as your sonny1 says, it will take about 75 years to pump enough oil to pay it off. Not 2 or 3.

Even if they quadruple their output it will take 20 years.

Iraq cannot even dream of having a money supply worth trillions of USD for even a second, let alone 20 years.

Sorry, try again.

i had to leave for 5 minutes.......i cant believe your still losing this fight, i would of thought pride would of set in, and you would be looking for a floatation device, because you were drowning....

good night everyone............

p.s

hit the books tonight, and i will be back to shred anything you have at some point tomm.

[FrankieV]

Is it time deleting three zeros from the Iraqi currency

Has led to high inflation continued currency of No. 23 billion dinars in 1991 to about 30 trillion dinars at the present time

Transfer of 30 trillion dinars to $ 30 billion by deleting three zeros from the current currency and replace it with a new currency

[goldengoose]

thanks bump, someday they will figure it out, well maybe not.

ever sense the cindy loppers took this site over it has been pathetic, and awful, luckily i have smart economic professors that have a clue to talk to.

'sonny1',

Good evening!

I could not agree more with your statement..........I have never seen such negativity; however, there are many postive people and comments that will certainly outlast the 'Cindy Loppers'...!

I appreciate your straight talk and opinions.

GG

[FrankieV]

i had to leave for 5 minutes.......i cant believe your still losing this fight, i would of thought pride would of set in, and you would be looking for a floatation device, because you were drowning....

good night everyone............

p.s

hit the books tonight, and i will be back to shred anything you have at some point tomm.

Look up every country in the ME. Look up how much currency they have in circulation, and look up how much that currency is worth. Look at how much oil they have. Look at what their GDP is. Then come back here and explain to everyone how Iraq can possibly have 8-12 trillion USD worth of currency that you say is outside the country, let alone 30 trillion total.

[Carrello]

Look up every country in the ME. Look up how much currency they have in circulation, and look up how much that currency is worth. Then come back here and explain to everyone how Iraq can possibly have 8-12 trillion USD worth of currency that you say is outside the country, let alone 30 trillion total.

I know exactly who sonny is. He's a guy that everyone loves because he tells them what they want to hear, instead of the truth.

Remember that, when what he says never comes to pass.

You know what I do know: The people that know this subject in depth, here and on other sites, conduct themselves like gentlemen and gentlewomen, because they bring different ideas, experience, data and analysis, intellect, and the ability to put it all together. These are the people that know their subjects, there is no reason to have the pissing contests like what is going on here. Most of the time here, no matter the subject, it ends up in a LOP pissing match.

Have you noticed that several conversations have continued in this thread, but there had to be a few bomb throwers get some attention. The serious people just kept going, and you kept needling Sonny. Maybe that is why you guys needle the knowing, you have to prove yourself.

You could have had a dialogue with Sonny and not gone to the dark side. You might have learned something. I know I have.

Edited September 17, 2011 by Carrello

[ROCKSCISSORSPAPER]

good night, sonny. Job well done.

[Nelg]

Quote from that thread....Basicly, Dinars are a Liability for the Central Bank of Iraq, not an Asset, when it comes to a RV, more dinar is a VERY bad thing

What? They are trying to get the populace to use the dinar and not dollars!

[DinarDana]

i am not trying to be a cocky idiot, but we never had the number of dinar in reserves. it was never know

iraq would never lop 58 trillion in dinar, that is the most obvious, apparent situation, so the loppers, who think they are smarter than everyone, are wrong, they would never lop.

you guys have to understand, they will rd, after the dinar has worth, so all these articles are correct, they will rd, but only after the raise the value, and clear all the dinar off the streets, its pretty weasy to understand, the loppers are so overbearing, its hard to see reality.....

sorry loppers....but its true

Thank you, thank you, sonny1. I just keep reading and shaking my head. You are brave to post. I am not so fortunate to have financial experts around me to have intelligent conversation. So I have spent a lot of time reading and connecting the dots, myself, the last piece of the puzzle, thanks for bringing this to the table!

I want to point out some interesting information I read. This article was posted last night and whizzed by with few comments, might I add no Cindy Loppers. I really think this article is great and there is much to discuss, however, it has been glossed over and the potential discussion turns to a LOP VS RV, I am quite tired of the same recording. Sorry folks, you are great to contribute, but it is not going anywhere.

On a different not and to change your focus I did spend a considerable amount of time researching the Krona and their CASH MANAGEMENT system referred to in this article. This obviously does not affect the exchange rate, but it does reflect the in country plan of exchanging cash, creating new currency, (denominations) how long it will take, and the new security features. I would also like to point out there was no reference to Turkey, but instead Sweden.

"Sweden, for example, that where there is currently one of the best systems of cash payments in the world, however, the cost of trading cash counting, sorting, transport and storage of the coin cost the national economy gain of 4% of the GDP of Sweden."

Sweden has the following banknotes in circulation: 20, 50, 100, 500, 1000 krona. Coins are 1, 2, 5, and 10 -

The Riksbank is responsible for providing Sweden with banknotes and coins. The work includes supplying banknotes and coins, destroying banknotes and coins that can no longer be used and accepting banknotes that are no longer valid.

Cash Management

The Riksbank has two offices and via these supplies the banks with cash. The banks, or their agents, then distribute the cash to the retail trade and the general public.

The Riksbank does not determine how much cash is in circulation; instead this is determined by demand from the general public.

Swedish cash management has undergone major change in recent years. The new structure for cash management entered into full force in 2007. The banks and the bank depot companies are thus able to trade cash without the involvement of the Riksbank. Should a depot have a deficit of banknotes it is able to purchase notes from another depot that has a surplus. In this way there is now a market for trading in cash. The Riksbank’s role in this chain is solely to supply cash and to destroy banknotes and coins that can no longer be used. Three times a year the Riksbank will also accept any cash surplus. At present (January 2011) there are 12 bank-owned cash depots in operation.

My link

Sweden is in the process of creating new banknotes with new security features:

All banknotes will be equipped with a new security feature, “Spark”, which is a colour-shifting ink. The colour shifts when the banknote is tilted. Special pigments in the ink give a three-dimensional visual image in the printing. Moreover, the higher denominations, that is, the 100, 200, 500 and 1,000 krona notes will have a further security feature known as “Motion”, which is a window thread with micro-lenses embedded into the banknote paper. The thread gives the impression of motion when the banknote is tilted. This feature is already used on the most recent version of the 1,000-krona banknote.

The earliest possible time for replacing the notes and coins is 2014-2015.

My link

Read more: http://dinarvets.com.../#ixzz1YAuDymV1

[FrankieV]

To complete my thought--

Maybe this will explain it. You go shopping and buy a pineapple. The value of the pineapple is 25 dinar. You can pay for the pineapple with either a 25 dinar note, or a 25,000 note because they both have the same market value.

Yes, that's correct.

But if you go shopping and buy a car, and if you can pay for the car with either a 25 dinar note or a 25,000 dinar note, that shows the value of the money on the marketplace.

No, you can't. Unless the car is only worth what a pineapple is (which in your example is 21 USD).

Will it buy a car or only a pineapple? Either, depending on the market value of the dinar. If we assume the market value of the pineapple is equal to the 25 dinar note or 25,000, which are also equal in value, either of them will buy that pineapple. But if inflation sets in and the market value of the dinar rises, then perhaps that same 25 dinar note or the same 25,000 dinar note, still equal in value, will buy the car, which is equal in value to either of those dinar notes. .

It will buy the pineapple.

If inflation sets in, the currency value goes down, not up.

There's nothing unusual about having the two currencies coexist, it happens in redenominations all the time.

[Dalite]

Lol. The answer is that It is 58 billion in foreign reserves not dinar.

That's supposed to be a secret; let him have his fun....

You are correct, it is 58 bilion, if I recall the statement from the CBI, it is 45% in USD, 45% in Euro and 5% in gold.

It is converted to Dinar in name only so the spreadsheet can zero out liabilities to assets using a common format.

That is all they have to back a RV of 39 Trillion liability; according to CBI statements.

He believes there is a lower number in circulation due to the articles stating the percentage of the completion of the plan that was first shown on Jun 19 of this year.

It is a very common forum fact, and it used to try to make folks who don't know better think that they have withdrawn the large notes, and that is what removing the zeros stood for.

However, when the RD articles became harder to smoke and mirror away, they forgot to retract that theory and still try to explain away the liability the CBI claims as smoke and mirrors.

He doesn't understand that RV first would just magnify the problems from the past inflation that caused the zeros to be added, plus the CBI can't back it, and even if they did, the international communuty would never have confidence in the economic system there, knowing the ineptitude of those who control the decisions.

And it is just Friday night entertainment meant to stir every one up and make them forget last weeks predictions were goose eggs.

And even if it had any merit at all, he needs to do is explain it to Shabibi. It is not the lopsters redenomination; it is Shabibis.

Please excuse the typos; it is hard to type correctly when you are laughing so hard you have tears in your eyes and cannot see the keyboard clearly.

Again, to review; it is Shabibi's RD, not the dreaded, and most feared "lopsters" of DV.

But, Sonny, once again we thank you for tonight's entertainment, and I will leave you to keep everyone stirred up and fighting among themselves.

Nobody does it better... You can go away back to chat now that the rest will be fighting all night.

Once again, a weekend of the Cindy Loppers versus the Jewels of Denial.

Great, just Great!

[DAME1]

Let me ask you a question....how many people on this forum can tell you what " other Nations "..ha...currency ....paper or coins, look like, or what their worth ? Would you concern yourselves with some other countries money unless you were traveling their or investing ? Uh NO.......Why would Iraq tell the world ..hey, you hoo ,were changing our non tradable currency thought you would like to know. We're going to LOP..... ..all you people in Somalia, Iceland,Cuba,and BF Egypt..... to the G7 or G8 the IMF, WTO, UN, NATO, G20, and God only knows who else.... this makes no sense.....nobody cares about the Lop .....if their going to Lop then have at it, if not, shut the h *** up ..stop telling the world yipeeeeee. nothing plus nothing EQUALS NOTHING ...WOW that's world news......ahhhhhhhhhh