hiltonhead05 Posted February 18, 2010 Report Share Posted February 18, 2010 scoty1967 It's funny you are saying the dinar will not get us rich.... yet you still stick around a dinar site and read the post and waste your time replying.... lol you should do stand up someone give this guy a mic... lol Link to comment Share on other sites More sharing options...
clemly Posted February 18, 2010 Report Share Posted February 18, 2010 This brochure was created for Venezuela when they redenominated their currency. Instead of Bolivars just insert Dinars and the explanation will make perfect sense http://www.reconversionbcv.org.ve/pdf/TripticoColorIng.pdf Link to comment Share on other sites More sharing options...
clemly Posted February 18, 2010 Report Share Posted February 18, 2010 you are probably right on.... Link to comment Share on other sites More sharing options...
ronscarpa Posted February 18, 2010 Report Share Posted February 18, 2010 There is no news on the RV, All I see is news on the lop.I cant even find news about a RV.RV is a mith they had this planed all allongScoty1967, It sounds like you want out - so, do you want to sell me your IQD at the current rate of $855/million...??? RON Link to comment Share on other sites More sharing options...
ronscarpa Posted February 18, 2010 Report Share Posted February 18, 2010 It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars.Here is my take on this:I paid $1064 for 1 Million IQD the actual rate was $860 for 1 million IQDold=pre-redenom , new=post-redenom.the new 1 IQD will = 1000 old IQD in valuewhich means 1 new IQD = $0.86 which will also = 1,000 old IQDNext if they revalue the Dinar to $1.50 just for even numbers then:1 new Dinar = 1000 old Dinar =$1.501,000 new Dinars = 1 million old Dinars =$1500so now my $1064 investment = $1500 after the RV to $1.50$1500 - 1064 = $436if you go to Ali to cash in then $436 - $150 = $286if you go to the bank @1% = $15 then $436 - 15 =$421Which is not a bad return on my investment, but we all knowthat was not what we got into this investment for.IMO this is the worst case with the lop but it is still good.I hope I am wrong and I have been wrong before...A lot. allooh - you're so right....the "WORST" we can do is make a 29-42% return. I just wish more of our bretheren (boys & girls ) would keep this in mind, rather than focus on the negative perspectives. IMO RON Link to comment Share on other sites More sharing options...
socallou Posted February 18, 2010 Report Share Posted February 18, 2010 Thanks clemly,That helped me understand it better. Link to comment Share on other sites More sharing options...
Kent Posted February 19, 2010 Report Share Posted February 19, 2010 Let it rideAgreed, and I am one of the ones that thinks a lop is probable. This will either be a good investment, or an incredible, insanely once in a lifetime good investment. Either way...Let it ride! Link to comment Share on other sites More sharing options...
keylime Posted February 19, 2010 Report Share Posted February 19, 2010 Agreed, and I am one of the ones that thinks a lop is probable. This will either be a good investment, or an incredible, insanely once in a lifetime good investment. Either way...Let it ride!I don't think a LOP is going to happen, but it isn't going to blindside me if it does. That is why I appreciate learning all facets of this investment. Just think, if no one ever mentioned a LOP and no one brought out the possible ramifications of this happening, but that we all went on our merry way just knowing we were all going to make millions and it was as sure as the sun will rise tomorrow. Then out of nowhere. Oh oh. A "lop" happened! Whoooo Nellieeeee!!!!! Talk about getting sacked from the blind side. You'd have people screaming and commiting hare kare right on this and all the other websites. Fox News touts themselves as being fair and balanced. I think that is the only way to go. Fair and Balanced. Learn what a re-denomination is. Learn what a Lop is. Learn what other countries have done. Learn about the Iraqi situation and its climate right now. And if its situation can even be compared to previous countries that have re-denominated and or lopped. Then whatever happens you will not be caught with your pants down. If you've bought dinar. Your in. So be fair and balanced with yourself. Again I do not believe a LOP will happen. I think they will RV. And then we will have til the end of the year, to exchange our dinar for whatever they RV to. While we are exchanging our dinar over this same period, the Iraqi people will be educated and a stabilization program will be introduced so that the Iraqi people will understand the ramifications of the new denominations being introduced into circulation. And while they are getting their ducks in a row, the large denominations will slowly be taken out of circulation. By 2011 sometime, most large(3 zero notes) will have been replaced with the notes with out 3 zeros and the Iraqi people will continue with business, better than usual.However, if it goes down RV/Redenomination/lop all at once, which I just can't see that happening, I will not be left with my mouth hanging open kicking and screaming on the floor in a fit crying "Why me Lord? Why me?" Why?Because I have been willing to educate myself on all possible ramifications of this investment, and am just as excited today as I was when I bought my first dinar.Oh, and let me add that my trust is in God not man. So whatever happens,...I'ma gonna be alright.God Bless. 1 Link to comment Share on other sites More sharing options...
Texxas777 Posted February 19, 2010 Report Share Posted February 19, 2010 keylime...that is about as "well said" as it can be "said." and I agree...we all want the amazing upside here...I am right there too! However we need to educate ourselves and then put our faith where it needs to be. I remember reading somewhere that "fretting and worrying" don't really get you anywhere you want to go. That being said...I really hope this goes like we all hope!Peace! Link to comment Share on other sites More sharing options...
Enorrste Posted February 19, 2010 Report Share Posted February 19, 2010 Please go to the Rumors Section where I have posted under my own name the response to this article and the "final" statement on dispensing with L O P discussion. The post includes articles in which Zubaidi, the head of the Ministry of Finance, recommended to Shabbibi back in 2006 that the removal of large denom notes AND raising of the value of the IQD be undertaken. Then, in 2009 I have posted an article in which Salih himself of the CBI says that the "plan" under discussion will raise the value of the IQD. Therefore we have 3 people who are official and "in the know" who have revealed that Iraq will raise the value of the IQD in the near future and that this is a plan that has been in process for several years now. This should end this discussion once and for all.For those who still like to talk L O P, I would appeal to you to bring to the surface ANY documentation to support your case. Otherwise, let's let the government and CBI officials speak for themselves on this matter, OK?Steve Link to comment Share on other sites More sharing options...
Kent Posted February 19, 2010 Report Share Posted February 19, 2010 Please go to the Rumors Section where I have posted under my own name the response to this article and the "final" statement on dispensing with L O P discussion. The post includes articles in which Zubaidi, the head of the Ministry of Finance, recommended to Shabbibi back in 2006 that the removal of large denom notes AND raising of the value of the IQD be undertaken. Then, in 2009 I have posted an article in which Salih himself of the CBI says that the "plan" under discussion will raise the value of the IQD. Therefore we have 3 people who are official and "in the know" who have revealed that Iraq will raise the value of the IQD in the near future and that this is a plan that has been in process for several years now. This should end this discussion once and for all.For those who still like to talk L O P, I would appeal to you to bring to the surface ANY documentation to support your case. Otherwise, let's let the government and CBI officials speak for themselves on this matter, OK?SteveFor the benefit of all, I believe Steve's string is: http://dinarvets.com/forums/showthread.php?11100-Putting-the-LOP-to-bed-once-and-for-all!Steve, you have well earned "rock star" status on this forum and are going to be amazed at this, but what I see in all of that is that the Ministry of Finance and the CBI have publicly disagreed on a lop. Although a lop has no direct or immediate change in the exchange rate by itself, it is believed that the process increases confidence in the currency and has a favorable impact on the value over time - thus the frequent reassuring statements that it will have a favorable impact on the value.IMO the most conclusive thing you put in that article was this quote from 2006:http://edinarfinancial.net/news/?nn=320And here is the statement:“A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar. He explained that the financial authorities were set on holding a meeting next month to discuss the matter. The meeting is to be attended by experts and specialists from the Ministry of Finance, the Iraqi Central Bank and the Commercial Bank.”, but candidly, the link doesn't work and I am personally more inclined to put confidence in more recent statements from the CBI since I believe (and I thought you do too) that the CBI is the one controlling the decision.Now about the XE statement. You quote their article, but neglect to mention that they have a hyperlink in their own article that refers to a Reuters article. Admittedly, it appears that XE is doing some interpretation of the statements in the article and using their own language, but I personally give some credence to their interpretation of statements since they are in the currency trading business. They clearly interpret a lop.Finally, you mention Phoenix documentation of currency in circulation well below 9 Trillion dinar. Personally I am dumbfounded that people try so hard to ignore the plain facts provided by the CBI. All links and a rebuttal are in this post:http://dinarvets.com/forums/showthread.php?10890-TidBit-from-Phonex-on-Dinar-in-Circulation/page2I am not trying to pick a fight, but just thought a different angle on even your own conclusive "no lop" statements would interest you. I sincerely appreciate all your work and have learned a lot from your posts.Kent Link to comment Share on other sites More sharing options...
FMCC Posted February 19, 2010 Author Report Share Posted February 19, 2010 Hi Steve, I just got this article from the xe site a couple days ago. At first I thought good, they are talking about the value of the dinar. Then I see that it seems that they see the new denomonations are taking the place of the old ones. I just don't understand why it looks like the old 1000 dinar and the new 1 dinar is the same value. Is a trusted company like XE wrong in this article? I value your opinion. You seem to know what you are doing. I seem to have gotten a lot of response with this article. I was looking for an explaination. Link to comment Share on other sites More sharing options...
FMCC Posted February 19, 2010 Author Report Share Posted February 19, 2010 Kent,I did put a link at the top. That is all I saw in the article. Here is the link again.http://www.xe.com/currency/iqd-iraqi-dinar Link to comment Share on other sites More sharing options...
john1025 Posted February 19, 2010 Report Share Posted February 19, 2010 Forex is a pretty credible source of information. Unless they have the new dinar in circulation before they take off the zero's it won't work. But if they start releasing the new smaller notes, so people can excange large for small it can work. They will just set their prices accordingly. imo Link to comment Share on other sites More sharing options...
Kent Posted February 19, 2010 Report Share Posted February 19, 2010 Kent,I did put a link at the top. That is all I saw in the article. Here is the link again.http://www.xe.com/currency/iqd-iraqi-dinarAbsolutely, I saw that (and thanks for your post). What I was referring to in my post was Enorrset's treatment of the same XE stuff that he referred everyone to. If you read his post, he is going into some detail about source information for the quotes, but he doesn't mention that the last phrase in the article you posted is a hyperlink that takes you to this Reuters article: http://www.xe.com/news/2010/02/11/951385.htm Again, my point is that, even if XE is interpreting the news, that has significance since they are in the currency trading business. Link to comment Share on other sites More sharing options...
MustangMan-WI Posted February 19, 2010 Report Share Posted February 19, 2010 I really don't believe they are going to Lop--its not in the interest of the Goverment to do that--can you imagin how many countrys would be mad as helll at them and i"m talking about the big ones Link to comment Share on other sites More sharing options...
Teresa82 Posted March 12, 2010 Report Share Posted March 12, 2010 Live rates at 2010.03.12 19:18:03 UTCNotice: IQD will be redenominated by the end of 2010. More on the Iraqi Dinar1.00 IQD=0.000857229 USDIraq Dinars United States Dollars1 IQD = 0.000857229 USD 1 USD = 1,166.55 IQDTrade Currencies. Click here!! I was looking at the converter, and it said this -what does that mean? Link to comment Share on other sites More sharing options...
Barbann Posted March 12, 2010 Report Share Posted March 12, 2010 This has been posted in here and discussed dozens of times. Thanks for posting but this is a been there done that post. Link to comment Share on other sites More sharing options...
Teresa82 Posted March 12, 2010 Report Share Posted March 12, 2010 hey Barbann, can you give me a link to where that might be, so I can read it? Link to comment Share on other sites More sharing options...
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