DROPPING ZERO'S

[misty969]

What we want for the dinar to do is drop the zero's off of the value. We do not want the zero's takened from the paper currency. we need that 25,000 dinar bill to stay that way and bring the 1170 value down to one dinar. Again keep the 25,000 dinar bill as it is and bring the 1170 to 1. Thats what we need, simple math and then that way 1 dollar is 1 dinar.

[zul]

When they ADDED the 3 zeros...they introduced the 25,000, the 10,000, 5,000 and 1,000 into circulation. Now they are deleting the 3 zeros, it simply means they are taking out the 3 zeros notes that they added, out of circulation.

Of course if you look at their money supply...it doesnt reflect what they have been doing physically. SO the figure still remains ~ 30 trillions (or whatever the amount is ~ until the parliament pass the law to delete the zeros.

[xyzzy]

When they ADDED the 3 zeros...they introduced the 25,000, the 10,000, 5,000 and 1,000 into circulation. Now they are deleting the 3 zeros, it simply means they are taking out the 3 zeros notes that they added, out of circulation.

The 000 notes were created to not have to carry around stacks of 250s, but they exchanged 1:1 so this event did not increase the money supply. If they were to now stop providing 000 noes then it just means everyone goes back to carrying around stacks of 250s (which they would need a lot more of I think). Doing that wouldn't actually change the size of the money supply. But all the deleting of the zeros articles talk about going from 30T to 30B.

Of course if you look at their money supply...it doesnt reflect what they have been doing physically. SO the figure still remains ~ 30 trillions (or whatever the amount is ~ until the parliament pass the law to delete the zeros.

Physically they could stop giving out 000 notes (I don't think this has been reported) and be printing huge quantities of 250s. But, even if that is happening, it doesn't change the money supply in circulation just number of notes of various denominations. Edited October 10, 2011 by xyzzy

[jeepguy]

man i read a lot of the zero deals { zero cash back } zero on trade in`s after rebates } hahaha kidding guys but the zero thing is --- when the restucturing of dinar came about the saddam note was at 3. something { in saddam`s little mind} --but before that the dinar was acutally valued at - or around 3.00 anyway some one brought up currency values for the 60`s and the dinar was a high back then --- so i think the zero`s will fall off the value also .00086 too .86 = 1. something = okie`s 8. something what ever it come out at ----> would ya hurry up a little bit though

[andy3978]

The "Deletion of the 3 Zeroes" can mean one of three things.

1) Remove the 000 off of the notes (LOP). Ex: 25,000 IQD Note becomes 25IQD Note

2) Remove 000 off the exchange rate. Ex: 1USD = 0.00085IQD becomes 1USD = 0.85IQD

3) Removing (physically) the 000 notes from circulation. Ex: Daily auctions bring 200 billion IQD into the CBI; the CBI then destroys these notes effectively removing them from circulation and from the money supply.

For all intents and purposes every announcement from the CBI seems to point to them doing #1 on the list quickly followed by a 3:1 Re-Valuation. This is a RD/RV. BAD for us.

However as I have pointed out in the past, #3 has been going on right in front of our faces for many years now. IF, and that is a BIG 'if', the CBI is in fact actually doing #3 and removing these 000 notes from circulation, then their money supply is shrinking each day and would position us for a FAT Re-Valuation. Now the money supply figures that are being put out there do not suggest that the CBI is actually shrinking the money supply via the auctions, but who really knows what's going on behind the scenes? If they actually were doing #3 with the purpose of a straight RV, would they blatantly tell us in the media? I don't think so, however I do not live on cloud 9 so I wouldn't be surprised one way or the other anymore.

[Deep Purple]

The "Deletion of the 3 Zeroes" can mean one of three things.

1) Remove the 000 off of the notes (LOP). Ex: 25,000 IQD Note becomes 25IQD Note

2) Remove 000 off the exchange rate. Ex: 1USD = 0.00085IQD becomes 1USD = 0.85IQD

3) Removing (physically) the 000 notes from circulation. Ex: Daily auctions bring 200 billion IQD into the CBI; the CBI then destroys these notes effectively removing them from circulation and from the money supply.

For all intents and purposes every announcement from the CBI seems to point to them doing #1 on the list quickly followed by a 3:1 Re-Valuation. This is a RD/RV. BAD for us.

However as I have pointed out in the past, #3 has been going on right in front of our faces for many years now. IF, and that is a BIG 'if', the CBI is in fact actually doing #3 and removing these 000 notes from circulation, then their money supply is shrinking each day and would position us for a FAT Re-Valuation. Now the money supply figures that are being put out there do not suggest that the CBI is actually shrinking the money supply via the auctions, but who really knows what's going on behind the scenes? If they actually were doing #3 with the purpose of a straight RV, would they blatantly tell us in the media? I don't think so, however I do not live on cloud 9 so I wouldn't be surprised one way or the other anymore.

They are doing the #3 because why would they buy up 500 million dollars worth of the dinars in circulation in Iraq a week, if they were going to lop?

[tim5400]

Im hoping that there is a translation error from arabic to english on the words "raise..delete..remove" the zeros meanings...we know they need to increase the value ...I hope that is all they do!!

[Manno]

Manno Believes that RV will go Straight, BAM!!!!, so suddenly surprising, with a FAT, THICK exchange rate!!!! The American Way!!

[benthere_1]

The "Deletion of the 3 Zeroes" can mean one of three things.

1) Remove the 000 off of the notes (LOP). Ex: 25,000 IQD Note becomes 25IQD Note

2) Remove 000 off the exchange rate. Ex: 1USD = 0.00085IQD becomes 1USD = 0.85IQD

3) Removing (physically) the 000 notes from circulation. Ex: Daily auctions bring 200 billion IQD into the CBI; the CBI then destroys these notes effectively removing them from circulation and from the money supply.

For all intents and purposes every announcement from the CBI seems to point to them doing #1 on the list quickly followed by a 3:1 Re-Valuation. This is a RD/RV. BAD for us.

However as I have pointed out in the past, #3 has been going on right in front of our faces for many years now. IF, and that is a BIG 'if', the CBI is in fact actually doing #3 and removing these 000 notes from circulation, then their money supply is shrinking each day and would position us for a FAT Re-Valuation. Now the money supply figures that are being put out there do not suggest that the CBI is actually shrinking the money supply via the auctions, but who really knows what's going on behind the scenes? If they actually were doing #3 with the purpose of a straight RV, would they blatantly tell us in the media? I don't think so, however I do not live on cloud 9 so I wouldn't be surprised one way or the other anymore.

No they have not been removing large notes from circulation, I live in iraq and you couldnt do anything without large bills

it would be like removing the $100, $50, and $20 from circ in the states

and you cannot prove that they are taking the large bills that story is just plain pumpology

and the removal of the zero's means dropping them from both the exchange rate and the currency at the same time

how? you ask

with the new currency mandated by the erbil agreement

that has the english arabic and kurdish writing on it

thats right folks a nuetral event to the consumer but a positive event for the GOI

in as much as they will be reducing thier numbers down to a managable figure

trillions become billions

the LOP takes place all across the board

warka, the CBI contracts and your pocket

the new and old bills will be used simultaneously just like venezuela did when they RD'd

the bill has been sent to parlement and will get either an up or down vote

but thats the plan

so

quit dreaming

and spreading BS

I live and work here

and have for many years now

I know

you can only GUESS

[rocketman2010]

do you work for the CBI justsan

[benthere_1]

do you work for the CBI justsan

No I can Read

the news expressed on this site is slanted to say the least ( can you say PUMPER?)

the news here in Iraq is all about the LOP

Edited October 10, 2011 by benthere_1

[rocketman2010]

No I can Read

the news expressed on this site is slanted to say the least ( can you say PUMPER?)

the news here in Iraq is all about the LOP

I can read also and I live in America. And I dont know what the hell is going on.maybe you should stay in Iraq...just sayin'

[Dalite]

They are doing the #3 because why would they buy up 500 million dollars worth of the dinars in circulation in Iraq a week, if they were going to lop?

That may be true if they were thinking about lopping.

However, they are waiting on a plan to ReDenominate to either be approved, or voted down in parliament.

LOP is a word Dinarians were taught to keep them from understanding the redenomination process; which was always the CBI's plan; at least since 2006.

The currency auctions are used to stabilize the economy.

Anyone telling you they have anything to do with drawing in large notes for a RV is simply either lying intentionally, or grossly misinformed.

Having said all that, the redenomination plan is getting the bum's rush in the media, and being stonewalled by Maliki.

Unless the fairy of unity sprinkles magic dust over the country, I wouldn't count on it being approved. Their economic experts are dumber than dirt, and very few can even begin to understand the forethought Shabibi has shown to bring Iraq to the point that currency restructuring is being seriously contemplated.

As long as Maliki is in power, it is doubtful anything will be done to improve the lives of Iraqis, as that would weaken his power.

But, make no mistake, currency auctions are used to stabilize the economy, lower inflation and keep the exchange rate stable.

The currency auctions are very likely to continue after any type of currency restructuring is done.

Tell your favorite guru to stop lying to you, if he/she is selling the idea that currency auctions are removing large bills.

What they take in on one day may be sold the next.

Wax On, Wax Off.

[rocketman2010]

LOP/RV who knows but one thing for sure you have to believe in some thing. Im sticking with the Bible.......Just sayin'

[dhardage]

LOP/RV who knows but one thing for sure you have to believe in some thing. Im sticking with the Bible.......Just sayin'

1 step forward

I can read also and I live in America. And I dont know what the hell is going on.maybe you should stay in Iraq...just sayin'

2 steps back! Just sayin

[hi-five]

Why was the CBI so concerned about counterfeiting if there is to be a lop?

[Dalite]

Why was the CBI so concerned about counterfeiting if there is to be a lop?

It's not the CBI that keeps raising that concern.

Iy is Maliki's Lackeys, and the purpose is to sway public opinion against the plan to ReDenominate.

I don't know what it has to do with a LOP, but it has everything to do with pitting the public against the CBI on Shabibi's plan to ReDenominate .

[truthful1]

What we want for the dinar to do is drop the zero's off of the value. We do not want the zero's takened from the paper currency. we need that 25,000 dinar bill to stay that way and bring the 1170 value down to one dinar. Again keep the 25,000 dinar bill as it is and bring the 1170 to 1. Thats what we need, simple math and then that way 1 dollar is 1 dinar.

Here's a little lesson for a newbie.

amount of currency x exchange rate = value.

25,000 iqd x .00086 = $ 21.50 USD

25 new iqd x .86 = $ 21.50 USD

What happened to the value? It stayed the same. What happened to the amount of currency? It fell by 1000. What happened to the value? IT STAYED THE SAME

[zul]

The 000 notes were created to not have to carry around stacks of 250s, but they exchanged 1:1 so this event did not increase the money supply. If they were to now stop providing 000 noes then it just means everyone goes back to carrying around stacks of 250s (which they would need a lot more of I think). Doing that wouldn't actually change the size of the money supply. But all the deleting of the zeros articles talk about going from 30T to 30B.

Physically they could stop giving out 000 notes (I don't think this has been reported) and be printing huge quantities of 250s. But, even if that is happening, it doesn't change the money supply in circulation just number of notes of various denominations.

Well....we all know most Iraqis dont use their IQD in their daily transactions. They are using USD. Look aorund, most of their bills are here with us and it doesnt affect them that much. So If CBI has been removing the 3 zeros bills, i dont think anyone would have noticed the difference. The size of the money supply, on record, is still the same because whatever amount they printed is the amount shown on paper.

They need the approval of their Parliament (draft to delete the 3 zeros), after which their record will be updated to reflect the real amount in circulation (size of money supply) ~ less whatever amount that has been taken out of circulation.

Here's a little lesson for a newbie.

amount of currency x exchange rate = value.

25,000 iqd x .00086 = $ 21.50 USD

25 new iqd x .86 = $ 21.50 USD

What happened to the value? It stayed the same. What happened to the amount of currency? It fell by 1000. What happened to the value? IT STAYED THE SAME

and the purchasing power of the people would remains the same. It stayed the same. But didn't CBI said, the deletion of the 3 zeros would increase the purchasing power of the people..?

The money ( @ 0.86) would give the illusion that it has more purchasing power...but since everything stayed the same, a neutral-event, as some would say, there is no real change to the purchasing power of the citizen.

Edited October 11, 2011 by zul

[andy3978]

so

quit dreaming

and spreading BS

I live and work here

and have for many years now

I know

you can only GUESS

Hey Hey Russian Huey under a new name. hahahahaha

Wow, thanks for bringing everyone back down to earth. Where'd we be without your 9 posts of in-your-face knowledge and fact. Unfortunately you did not read the post as thoroughly as you should. The initial post was nothing more than a theory put forth as to explain the possible meaning of deletion of the zeroes There is much confusion buzzing about the true meaning of it and thankfully you decided to grace us with your intellect.

But as you state, since you live and work there you KNOW, and everyone else can only guess. I'm sure you are a high ranking Parliament member or possible Dr. Shabibi's right hand man. Truth be told, unless you work side by side with Shabibi, you know as much about what Iraq will ultimately do with the IQD as anyone else on this board...whether you live and work in Iraq or not.

There are a lot of bums who live in Washington, DC. I guess they are experts on government affairs too. LMAO!!!

Edited October 11, 2011 by andy3978

[andy3978]

No they have not been removing large notes from circulation, I live in iraq and you couldnt do anything without large bills

it would be like removing the $100, $50, and $20 from circ in the states

and you cannot prove that they are taking the large bills that story is just plain pumpology

Pumping, LOL I have been accused of being a LOPster on many occasions. You are 100% I cannot verify if the CBI is destroying the 000 notes, and I cannot verify if they are using them as wallpaper in the CBI break room. Guess what, neither can you. You cannot confirm what they are and are not doing with these notes anymore than Adam can.

But as you state, since you live and work there you KNOW, and everyone else can only guess. I'm sure you are a high ranking Parliament member or possibly Dr. Shabibi's right hand man. Truth be told, unless you work side by side with Shabibi, you know as much about what Iraq will ultimately do with the IQD as anyone else on this board...whether you live and work in Iraq or not--and regardless of what is in the media there.

There are a lot of bums who live in Washington, DC. I guess they are experts on government affairs too. LMAO!!!

P.S. Since mostly everyone is using the USD over there , why worry about 'not being able to do anything' with the large notes...nobody's doing anything with them anyway.