Iraq Coinage One Step Closer to Reality - Article 10/18/2011

[dhardage]

Hey,

It's a tuff job, but somebody has to do it...

I'm pacing myself

He thinks THAT'S bad? Look at mine! By this time next month, I'll have caught up with you. Now THAT is no life!

[MovieMaker]

Its actually further away then both of those....its REALLY out there!!

Feels like "The Twilightzone to me!"

[jmw]

Lol! You are on fire tonite!

Its so hard for me to learn from others especially when they are so incredibly smart that they troll dinar forums.....Waiste all kinds of time on an investment they dont believe in.

Question Ive been wanting to ask you and the other loppers who claim to be in for "a double or triple return.....What are the other investment forums you troll blastin your constant negativity??? I would like to checkout the other investment sites you visit are there any or is it just this one?

you might try doing some research outside of dinar sites...and maybe even mix in a calculator....or you can stay on dinar sites and yell "GO RV" really really loud....good luck!

[JWJW11]

you might try doing some research outside of dinar sites...and maybe even mix in a calculator....or you can stay on dinar sites and yell "GO RV" really really loud....good luck!

So no other sites??? LMAO

I didnt think there were! Thanks for the luck....you know what they say...."behind every bit of look is ALOTTA hardwork....

[dhardage]

What's a lop?

Sorry, had to break the tension.

OH THANK GOD!! I was REALLY hoping my sarcasm radar was broken again

[YourIntelSux]

It's a little fishy to me that they would be starting an "education campaign" before it's even passed through parliament?

Edited October 19, 2011 by YourIntelSux

[patb1]

Is that anywhere near Wonderland? Or closer to Candy Land?

no it's closer to LALA land

They are driving us crazy

And are smiling all the way

[dhardage]

no it's closer to LALA land

They are driving us crazy

And are smiling all the way

Ah well, I've been crazy for a long time!

[Carrello]

What's a lop?

Sorry, had to break the tension.

Tension, Genevieve? I thought the break in the tension was being provided by the yapping of Yorkies. Yap Yap Yap. You have to weed through the yapping to get to the substance.

Thanks for the break, G.

Edited October 19, 2011 by Carrello

[tjfoz]

POSTED BY TRC FROM ANOTHER SITE

"Outside Iraq, we cash in at new rate, no matter what bank notes you have they will be honored at new rate. Since most of the IQD outside Iraq, held by the public is in USA,US banks will buy the IQD with US Feds, same accordingly in all countries in the world . Inside Iraq nothing will change immediately, it will be a gradual change ,hence no change in purchasing power, which they have allowed two to three years to accomplish the re denomination process, depending on how high the exchange rate, the lower the new denominations that will be issued to circulation. Many are confused about deleting the zeros , the zeros will come off exchange rate , and new rate will be set simultaneously , between 90 cents after rounding off to nearest dime , and as speculators have said 3 +, or whatever you can dream up, no body will know til it comes out.I think 2+ , am hoping for 3+ though.As I said before nothing will change overnite in Iraq, as the re denomination process proceeds they will be able to release lower denoms into circulation as larger notes are drawn in, for example firstly 25k notes when buying something , you would get 10k notes and 5k notes 1k notes, 500 notes , 250 notes and 50 notes as change .As they are being withdrawn new smaller denominations in currency would be issued , most likely every few months a new note is issued, til process is complete.Eventually all the old large notes would be gone leaving only the new lower denominations. The purchasing power will rise as the process evolves , over a couple years,in iraq. Allowing the use of lower n lower denominations of currency. "

Edited October 19, 2011 by tjfoz

[caz1104]

Lol! You are on fire tonite!

Its so hard for me to learn from others especially when they are so incredibly smart that they troll dinar forums.....Waiste all kinds of time on an investment they dont believe in.

Question Ive been wanting to ask you and the other loppers who claim to be in for "a double or triple return.....What are the other investment forums you troll blastin your constant negativity??? I would like to checkout the other investment sites you visit are there any or is it just this one?

This I can tell u,these "smarter than everyone else crowd" obviously are not! And I would love to see they're portfolio's,my guess that would explain they're piss-ant attitudes.jmo

[JWJW11]

This I can tell u,these "smarter than everyone else crowd" obviously are not! And I would love to see they're portfolio's,my guess that would explain they're piss-ant attitudes.jmo

100% AGREED!!!

[keepmwlknfny]

Looky Looky!

The lopsters found another RD article (From Coin News no less...)

Amazing! I wonder how many RD/LOP articles we've read in the past few years...maybe hundreds? Must mean it's true...

SO IF THEY ARE GOING TO RD, THEN WHY ALL THE FUSS? Why haven't they just redenominated years ago? If it's so easy, and they just have to RD to save their currency, then why haven't they DONE IT? It's a No-Mess, No-Fuss job. Neutral. Kills past inflation. No going international on the market. No sanctions problems. Nobody gets mad (I guess... except us and the US gov't) They can RV after, as you Lopsters like to say, when they get stronger. So why haven't they DONE it? Why fight over currency reform in Parliament if they are going to do a VALUE NEUTRAL move?

Answer me that, LOPSTERS>

Take a little time and read up on redenominations. There are plenty of reasons why it would or could take years to follow through with such a process.....

You do need to make sure that inflation is low and can remain stable, and being Iraq with a new foundation, would you not want to make absolutely sure that whatever you planned on doing whether it was a RV or RD, that it would be 100% successful and that you wouldnt fail??

We wont even talk about how Iraq also moves at a snails pace cause we already know that....

Dont forget also that with either a RV or RD, planning has to go into effect on a new currency to be printed. We all fail to realize what a complex procedure it really is to do anything with a currency. The parliament also has to approve a change in currency being issued. All this takes time and there is apparently a long process.

So in either argument, if it really was as easy as we all thought, either could have been done already but nothing has....all we know is that there is a bill that was put in front of parliament to RD the currency and it has to be shot down for us to want the return we all hope for.

So quit getting upset because you see people conversating about a lop/rd.....

You know that the three zeros articles are about a lop so just dont read them....you can just stick to the rumors...Im sure you will learn alot there!

[hame55]

nooooooooooooooooooooooooooooo not the negs!!!! my life is OVER

Ha, ha!

Nothing like a good debate. Except maybe you shouldn't have said I should be a "grown up" and just answered my question and you would not have gotten ten negs. Methinks it looks as if you were dodging the question...WHICH HASN'T BEEN ANSWERED YET by any lopster...

[dhardage]

Ha, ha!

Nothing like a good debate. Except maybe you shouldn't have said I should be a "grown up" and just answered my question and you would not have gotten ten negs. Methinks it looks as if you were dodging the question...WHICH HASN'T BEEN ANSWERED YET by any lopster...

Ok, tell ya what.......You get me the definition (in a REAL dictionary) of a Lopster and I will be happy to answer any question you like. I like real words.

[Darin]

It's a little fishy to me that they would be starting an "education campaign" before it's even passed through parliament?

Great point! Why educate the public on something that isn't fully approved yet. Seems like a lost of wasted effort if they go a different route, or scrap the plan all together.

It would make me think that this was decided years ago. Question is, what was decided? R/V or R/D?

If the RV is their savior...why haven't they done it?....there are good reasons for not RDing yet...needed to get inflation under control....need to educate the people....need to study the affects...for a RV all they need to do is change the rate....why haven't they done it?

Inflation under control? I would of thought that inflation is pretty much for the most part under control. Turkey dropped their inflation, and it appears that as soon as they broke beneath 10% they did their R/D. Educate the people? They've been doing that for months/years.... Seems kind of irresponsible to educate a public on a plan that is not fully approved. Yes, if they were to R/V, it would just be a changing of the rate. But, only upon minor changes.. Maybe they held back adjusting the rate, let production increase, the private sector grow, reduced circulation, and intend to make an even bigger increase than normal. It may not be the $3+, $1+ or even much at all, but it may be a larger increase... Such as "$0.01"

Take a little time and read up on redenominations. There are plenty of reasons why it would or could take years to follow through with such a process.....

You do need to make sure that inflation is low and can remain stable, and being Iraq with a new foundation, would you not want to make absolutely sure that whatever you planned on doing whether it was a RV or RD, that it would be 100% successful and that you wouldnt fail??

We wont even talk about how Iraq also moves at a snails pace cause we already know that....

Dont forget also that with either a RV or RD, planning has to go into effect on a new currency to be printed. We all fail to realize what a complex procedure it really is to do anything with a currency. The parliament also has to approve a change in currency being issued. All this takes time and there is apparently a long process.

So in either argument, if it really was as easy as we all thought, either could have been done already but nothing has....all we know is that there is a bill that was put in front of parliament to RD the currency and it has to be shot down for us to want the return we all hope for.

So quit getting upset because you see people conversating about a lop/rd.....

You know that the three zeros articles are about a lop so just dont read them....you can just stick to the rumors...Im sure you will learn alot there!

Issuing a new currency takes a long time? The 2004 introduction seemed to move rather quick & nearly flawless. After the invasion, they flew in a lot of USD. Than after the fall of the former regime, they brought in new IQD to replace the old. That all seemed to have happened rather quickly.

And as of now, inflation is low, so I would argue they could R/D whenever they please.. Because whatever action(s) they would need to take prior to a R/D could just as easily be done afterwards as well to help maintain a low rate of inflation. A R/D is really just a band-aid, and inflation could go up again. They need to be able to utilize tools to maintain low inflation.

[keepmwlknfny]

Issuing a new currency takes a long time? The 2004 introduction seemed to move rather quick & nearly flawless. After the invasion, they flew in a lot of USD. Than after the fall of the former regime, they brought in new IQD to replace the old. That all seemed to have happened rather quickly.

And as of now, inflation is low, so I would argue they could R/D whenever they please.. Because whatever action(s) they would need to take prior to a R/D could just as easily be done afterwards as well to help maintain a low rate of inflation. A R/D is really just a band-aid, and inflation could go up again. They need to be able to utilize tools to maintain low inflation.

For the Iraqis to do this yes it seems it does take some time to go through all the hoops. Im sure in 2004 the idea had been planned for a couple years already to print a new currency. Think about how fast it did take for it to happen....had to of been planned for before we even stepped foot in Iraq, but in that regards the US practically just pushed it through where in this case now, they will probly go through all the hoops that normally would need to be done to accomplish something of this nature. Letting them handle this on their own is what will take so long whether they decide to RV or RD....

[JWJW11]

For the Iraqis to do this yes it seems it does take some time to go through all the hoops. Im sure in 2004 the idea had been planned for a couple years already to print a new currency. Think about how fast it did take for it to happen....had to of been planned for before we even stepped foot in Iraq, but in that regards the US practically just pushed it through where in this case now, they will probly go through all the hoops that normally would need to be done to accomplish something of this nature. Letting them handle this on their own is what will take so long whether they decide to RV or RD....

Now you told the other guy to read up on redonmination but when Darin calls you on it you revert back to Iraq and their snails pace....which one is it? Is it the past redonomitations took a long period of time? Or is it Iraq you assume would take a long period of time? Im confused....

Hey one more question....how much Turkish Lyra was held outside of Turkey when they RD???

[Darin]

For the Iraqis to do this yes it seems it does take some time to go through all the hoops. Im sure in 2004 the idea had been planned for a couple years already to print a new currency. Think about how fast it did take for it to happen....had to of been planned for before we even stepped foot in Iraq, but in that regards the US practically just pushed it through where in this case now, they will probly go through all the hoops that normally would need to be done to accomplish something of this nature. Letting them handle this on their own is what will take so long whether they decide to RV or RD....

Years prior to stepping foot in their country? Sounds like a conspiracy almost... KeepM, I don't contribute you much for conspiracies..

Was it maybe in the plans prior? Yes.. But I doubt years prior...

I would say... Anywhere between when Shabbs spoke to congress & the invasion.

They needed a strategic plan...

Invade - take over the airstrip (airport)

Fly in sezied old regime USD currency to prop up the market.

Print & issue new currency to represent a new country..

[keepmwlknfny]

Years prior to stepping foot in their country? Sounds like a conspiracy almost... KeepM, I don't contribute you much for conspiracies..

Was it maybe in the plans prior? Yes.. But I doubt years prior...

I would say... Anywhere between when Shabbs spoke to congress & the invasion.

They needed a strategic plan...

Invade - take over the airstrip (airport)

Fly in sezied old regime USD currency to prop up the market.

Print & issue new currency to represent a new country..

LOL your right....Im not much for conspiracies, but I do believe it was all part of this plan to overtake Iraq and topple Saddam.....you dont think that the UN would want some kind of plan set for a country wanting permission to invade another and take out its leader and rebuild the country?

I doubt the US would walk in there and just be at the point of taking over the country without a procedure in place for how, why, when, where and who. I mean that document released about the "future plans of Iraq" was made before we invaded so Im quite confident that they had alot of this planned out a couple years in advance....

[Darin]

LOL your right....Im not much for conspiracies, but I do believe it was all part of this plan to overtake Iraq and topple Saddam.....you dont think that the UN would want some kind of plan set for a country wanting permission to invade another and take out its leader and rebuild the country?

I doubt the US would walk in there and just be at the point of taking over the country without a procedure in place for how, why, when, where and who. I mean that document released about the "future plans of Iraq" was made before we invaded so Im quite confident that they had alot of this planned out a couple years in advance....

For the most part, I am in agreement with you, except the timeline..

years in advance? I am sure the plans began in late 2001...

So maybe 2 years, which justifies your plural use of Year.

Just how I see it.

[unirod]

LOL I really hope thats not the case! But it seems to be all that the CBI is talking about lately......

I think venturing into Warka would be a good idea....Im probly gonna send them an email tonight....worse case scenerio and they do follow through with this lop crap, you wouldnt need to worry about exchanging your current bills and you could hold on until the dinar appreciates even more so it would be better then breaking even or losing money....

Decisions decisions.....

Funny, I'm surprised after over 4,000 posts you don't have the insurance of a Warka Account. If they (CBI) attempts to screw us on our 000'S, they cannot with electronic Dinar. We can ride the wave of value increases that are sure to come.

[keepmwlknfny]

Funny, I'm surprised after over 4,000 posts you don't have the insurance of a Warka Account. If they (CBI) attempts to screw us on our 000'S, they cannot with electronic Dinar. We can ride the wave of value increases that are sure to come.

And I have done a little research on that and found that if they do delete the zeros, it wont matter if you have electronic or physical cash because it will all be affected the same. I wish that Warka would safeguard against something like that happening but its simply not the case.....its all affected equally....

But more recently I have been thinking about going that route with at least half of my holdings....

[Sanssouci]

And I have done a little research on that and found that if they do delete the zeros, it wont matter if you have electronic or physical cash because it will all be affected the same. I wish that Warka would safeguard against something like that happening but its simply not the case.....its all affected equally....

But more recently I have been thinking about going that route with at least half of my holdings....

I was going to ask you about your stated intention last night - namely, how exactly would a Warka account be affected differently by a LOP. But more directly, do you think the Iraqi security ministries have sufficient force to withstand the nationwide riots that would ensue if all Iraqis suddenly found their life savings lopped overnight?

Edited October 19, 2011 by Sanssouci

[burn_the_village]

in this article it says it will take 3 years...

In 3 years time the Iraq will gain value and the exchange rate will increase nullifying the floated idea for the past 6 years or so that they will RD like Turkey Brazil Russia etc etc etc...

I am positive about this investment however if I were in their shoes and it was my job to manage this currency, why the heck am I going to pay out a bunch of foreigners at once AND pay them millions? Are you crazy? Because as soon as I RV the currency that's exactly what would happen...you people all at once would cash out because you only exchanged for Iraq's currency for one reason.

Same scenario with a LOP....whew...in that dreaded scenario once we figure out that its done and there is no opportunity to make MILLIONS.....what do you think will happen? Cash out...pretty much all at once....

It took them this long to build their reserves on our pound or dollar....it can take them just a few months to lose a good portion of it in a LOP scenario. In an RV scenario...well lets face it, an RV of anything sniffing a penny would not work.... It doesnt matter what kind of monetary policy you want to apply unless you apply Sadam's monetary policy....Yes....an RV would work with that scenario!

THREE YEARS? See that's enough time for the Dinar to appreciate decently and people will be cashing out and buying in IF they contract their money supply which we wont know is happening until they raise the exchange rate and update their M1/M2 to reflect this at the same time. So anyway, whats decent? waking up one day and finding out that every million you have is worth 5 to 10,000 dollars.

They already knew the condition of the dinar back in 2004 when they came up with the NID. Shabibi was dissapointed that they didnt RD at that time when they came out with Sadam less money....An RD is an easy way out of their mess....what a perfect time to take care of their flabby currency of zeros!!! BUT THEY DIDNT....

The fact thats its been this long and they haven't done a LOP is good fact in itself. I dont want to hear about excuses as to why they didnt...They can do it. CBI has the power to LOP if they want but yet they dont and they wont but they always talk about it.

Look to recent articles, that point to 4Trillion dinar in circulation in Iraq with 55 Trillion reported in their M1 well that's a big big deal if you ask me.....How much did CBI collect? How much are we holding? Maybe 25 to 30 trillion? There was even an article that stated they exported that much dinar earlier this year. Why would a nation about to LOP care so much about what is in local circulation? Also just because CBI collects it doesn't mean it comes off the books. Also notice that the reporting of the M1 and M2 is always a month or two behind....Odd.

This is a small country and this currency has been pumped and pumped and pumped and bought by so many contractors, soldiers, and people online internationally over the past 8 years? Their money supply just increases and increases...Its because of us.

I definitely believe we hold a significant portion of their money and some people say this is bad, well Iraq could have shut the door but they allowed us to do this and at the same time they backed themselves in a corner by allowing us foreigners to buy their dinar over the past 8 years. For us there is strength in numbers! Its a good thing!

Look how china behaved when people thought they were definitely going to revalue in 2006, they denied it for a month and then RV'd...No country likes currency speculators....but in Iraq's case they have the support of the UST, the IMF, and our US DOLLAR as surrogate currency....

Three years will be plenty of time to finish their project but again, don't expect an overnight RV....not happening for the same reason a lop would never happen. Think about it.