The tale of two Iraqi Citizens

[Francie26]

And there is the problem with your reasoning, "LOPing their (not there) income".

This is what you do not or will not understnd, their INCOME will not be LOPed! The amount of money or what they can buy with it remains the same after the RD (LOP), the removing of the zeros is in all respects to them just symbolic as far as how much they can buy with either. They don't lose anything except for having to pack around a large sack full of money to buy even small items after all is said and done. Like I told you in the other thread exchanging an old 25,000 Dinar note for a new 25 note would be very similar to exchanging 100 pennies for a $1 bill or coin so how is anyone cheated?

And if you think it's hard for "us" to understand this, try it on an uneducated Iraqi on the streets of Baghdad. lol

[coleman619]

Follow me.

Iraqi citizen 1 gets paid 1 day before RV, received 10,000 Dinar for his work.

Iraqi Citizen 1 take 2 days off after getting paid.

Iraqi Citizen 2 gets paid 1 day after RV, he receives 10,000 of the new currency.

Iraq LOPS there old bills the IQD and issues new currency without the zeros.

So you are telling me the Iraqi citizen 1 now has 10 dinars (minus 000) and the Iraqi citizen 2 has 10,000 of the new currency. Bullsh**. Iraqi citizen 1 will go blow up a building, because that is what they do when p*ssed.

LOP WILL NOT HAPPEN LOPSTERS. IT DOES NOT MAKE SENSE NO MATTER HOW MUCH YOU TRY.

That's your logic??

[Useful Idiot]

10,000 old dinar = 10 new dinar.

What you're describing DOES NOT HAPPEN with a LOP. The funny part is that it essentially WOULD happen with a huge RV.

Citizen 1 in your scenario gets paid 10,000 old dinar. Worth about $8.60. Citizen 2 gets paid 10 new dinar. Worth $8.60. Why would anyone blow up buildings? Why would one of them be irate? There's no difference whatsoever between pre and post RD.

Now think about a scenario that WOULD happen with an RV to 10 cents. Citizen 1 and 2 both work at the same place, both are well to do (for Iraqis). Both have 10,000 USD worth of dinar (around 10 million). Citizen 1 goes out and buys a used Toyota Corolla for 10 million dinar. Citizen 2 doesn't buy anything and leaves his dinar under his mattress.

It RVs to 10 cents.

Citizen 1 has a used Corolla. Citizen 2 has dinar worth 1 million USD. You want buildings blowing up? That'd probably do it.

How about the shop keeper that buys his weekly goods on Wednesday for 1 million dinar, versus the shop keeper that buys his goods on Friday, and the RV happens on Thursday. Shop keeper 1 has 1000 USD worth of goods. Shop keeper 2 has 100,000 USD worth of dinar.

The scenario that you THINK would happen with a lop WOULD NOT happen. It just shows you don't understand the mechanics of a lop.

This.

[zigmeister]

maybe Adam is correct at a low rate, maybe make money on the ride up to 3 pluis value -- { but the only problem which I see is it would need a law to prevent using the US Dollar for daily purchases it would create a black markek for those who don't trust thier currency but at a big discount in value]-- I am going to use reverse thinking here-------there wil be alimited time for the iraqi people to turn in thier dollars for the larger value of dinars after that just international exchange rates--now that's a crap shoot and new in country prices adjusted and all would ride the rate--after all

just a thought

Shabibi mentioned in an interview that to dissuade the Iraqi people from using the dollar they would be penalized via tax.

[trooper]

I don't think it will matter.. They all will be on Ration cards, Food allowance, Gas allowance, And oil dividends all on one card.. E currency... Like anythings over there... Be happy with what you get or be killed..

Edited November 10, 2011 by trooper

[hoopdog]

In addition, we are venturing into contracts. When Iraqi citizen 1 signed a contract, or hired on the fact of agreeing that he or she would be paid 10,000 Dinar for the work that he or she has done. To really think that they would agree to get paid 10 dinar after a so called LOP will work, buildings will be blown up.

So you're saying somebody is going to blow something up? LOL