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educate citizens changing money and use it before you delete the zeros of


trooper
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You want to talk Turkey? Then look to Turkey like the Iraqis are saying, Turkey removed the zeros from the currency just like Iraq is saying they are going to do-they did not say it was removing them from circulation. Also there it goes again about them having contracted their money supply down to "only" 4 Trillion like that solves the problem? Not even close, not only is there no indication they have done that but it would still be way to large of a figure to solve the problem anyway! Now add to that the Trillions held by speculators and the currency in circulation is still in the multi-Trillions so it doesn't matter if they managed to get that figure down to "only" 4 Trillion, they have to get this thing down into the Billions before any meaningful RV can take place. Their very rich neighbors have Billions, not Trillions, so what makes you think Iraq can just manipulate their exchange rate to make themselves suddenly hundreds of times richer than their neighbors? Think about what you are saying there, resorting to childish insults does not make those impossibly high numbers fit no matter how much you want them to!

Eassssyy now guys.

Yes, Turkey is an example that Iraq may or may not follow.

Yes, things have changed since (2003?) when Turkey revalued. The game is played differently.

Yes, Iraq has money being pumped into it...unlike Turkey.

The story of these countries are different. Its fun to debate --lets just not get weird about it.

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This article can be taken two ways.

(1). They are going to Revalue then Redenominate the old IQD with the new IQD after they educate the citizens on how to exchange their old IQD for the new IQD over a period of time.

(2). They do a straight Redenomination using both the old and new IQD whilst educating the citizens on how to exchange the old IQD for the new IQD and then getting rid of every last old IQD note (3 zero's).

I believe it will be the first rather than the latter.

KeepM, of course they can Revalue the IQD to a 1:1 parity with the USD and then Redenominate.

Your quote above is all wrong, because they won't be deleting (in your example quote above) the 3 zeros from the NEW IQD but rather by pulling in the old 3 zero IQD notes once they Revalue the current IQD and educate the citizens on how to exchange their old IQD for the new IQD.cool.gif

A redenomination would not entail you exchanging one for one....thats where alot of confusion arises because so many have now twisted a redenomination as something that we want or something that has to be done now....and its funny because when I was first invested a redenomination was known as what we dont want and it was said it would never happen....now the truth has become fuzzy for a lot....

If they revalue 1 to 1 with the USD there is no need for a redenomination.....if you RD a 25k dinar note (the way the CBI is describing) that is equal to 25k USD because the exchange rate is 1 to 1 then you would be moving the decimal place over 3 places still and now your 25k dinar is worth 25 new dinar and each new dinar would be worth like 860 USD laugh.gif Thats just not happening......not even in Okies world...that would be a new high record rate for him!

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A redenomination would not entail you exchanging one for one....thats where alot of confusion arises because so many have now twisted a redenomination as something that we want or something that has to be done now....and its funny because when I was first invested a redenomination was known as what we dont want and it was said it would never happen....now the truth has become fuzzy for a lot....

If they revalue 1 to 1 with the USD there is no need for a redenomination.....if you RD a 25k dinar note (the way the CBI is describing) that is equal to 25k USD because the exchange rate is 1 to 1 then you would be moving the decimal place over 3 places still and now your 25k dinar is worth 25 new dinar and each new dinar would be worth like 860 USD laugh.gif Thats just not happening......not even in Okies world...that would be a new high record rate for him!

1 to 1 rate -

25,000 IQD = 25,000 USD

Once they rd,

25,000 iqd = 25 iqd = 25,000 usd

Thus after the RV, if I wanted to buy a 25 IDQ, it will cost a heck of a lot more.

Why couldn't that happen? Its plausible.

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1 to 1 rate -

25,000 IQD = 25,000 USD

Once they rd,

25,000 iqd = 25 iqd = 25,000 usd

Thus after the RV, if I wanted to buy a 25 IDQ, it will cost a heck of a lot more.

Why couldn't that happen? Its plausible.

I believe in that scenario it is just like Keep described... 1 IQD would be worth $860. If they straight up RV with new low denoms, then there is no need at all to RD.

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Excuse my language, but a 25,000 bill is "ugly." Strong currency nations use lower denoms for the most part. They may want to jump on the band wagon.

I have no doubt that you are correct on that.. I think they will introduce low denoms with a much stronger exchange rate... My only question is what will happen to our big denoms? Will they be honored at face value or decreased in value by 1000 times? I think there are arguements to why they could either RV or RD and I don't know which one benefits Iraq and the major world players the most..

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I have no doubt that you are correct on that.. I think they will introduce low denoms with a much stronger exchange rate... My only question is what will happen to our big denoms? Will they be honored at face value or decreased in value by 1000 times? I think there are arguements to why they could either RV or RD and I don't know which one benefits Iraq and the major world players the most..

I think thats where the 2013 article comes into play. They have a year to understand the new rate.

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1 to 1 rate -

25,000 IQD = 25,000 USD

Once they rd,

25,000 iqd = 25 iqd = 25,000 usd

Thus after the RV, if I wanted to buy a 25 IDQ, it will cost a heck of a lot more.

Why couldn't that happen? Its plausible.

Your saying that 25 idq will equal 25k USD.....thats a 1000 to 1 exchange rate in the opposite direction.....it would take 1000 USD to equal 1 dinar....

At least thats what Im getting from your equation....

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Your saying that 25 idq will equal 25k USD.....thats a 1000 to 1 exchange rate in the opposite direction.....it would take 1000 USD to equal 1 dinar....

At least thats what Im getting from your equation....

Whoops!

25iqd = 25 usd.

Still...why not redom?

Thanks for athe catch keep.

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Whoops!

25iqd = 25 usd.

Still...why not redom?

Thanks for athe catch keep.

Redenominations occur before revaluations...... at least they always have been....the only RV i see that could or would occure before athe RD would be taking the value to an even 1000 to 1 first so that when or if the RD is done, the dinar would be exactly the same value as the USD.....

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The problem is in comparing Iraq to Turkey, why even do that? Iraq was never comparing itself to Turkey and they never pointed to Turkey as an example of whether the RD would even work or not, they simply pointed to Turkey as an example of how they intend to carry out the RD, if they indeed do RD, and it has exactly nothing to do with happened to Turkey before or after they RDed. We have to be aware of the fact that Turkey did remove the zeros from their currency and by Iraq telling us to look at how Turkey did this then it should be obvious that Iraq intends to do the same, just as other countries in the past have done. I hope this does not happen but we need to be thinking about how to handle this thing if the RD does occur, there may be several options we could pursue and these should be explored ahead of time rather than wait until the worst happens, if it happens, and then get caught up in the rush. I don't want this RD to happen anymore than anyone else here does but we need to examine what can happen and look at our options rather than just trying to twist what they are telling us to make it fit with what we want to believe.

Thanksgiving is over. The leftovers should be gone by now. Stop talking Turkey!

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First off I am not a newbie just new to the site and I seriously don't see how they could be much clearer, Look to Turkey as an example-what did Turkey do? What have other countries who have RDed their currency done? You know full well you are simply twisting things so go ahead neg me but we both know what removing three zeros mean.

doug im running out of negs,we know how you feel and am getting tired of you trying to ram your opinion down our throats,give it a rest man peace dave

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The fiat currency system is not long for this world. As I stated in another thread, the Australian, Swiss, Norwegian and Canadian currencies, among others, are ALREADY backed by basic materials and other natural resources.

I said the above yesterday with regard to Iraq and the new world "gold standard."

Mr. Adam Montana says the following today:

"Can Iraq afford to cash us out," not "Does Iraq have enough USD?" If you look at the massive amounts of Natural Gas, Oil, and potential that Iraq has - I say absolutely yes, they can afford to RV.

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I said the above yesterday with regard to Iraq and the new world "gold standard."

Mr. Adam Montana says the following today:

"Can Iraq afford to cash us out," not "Does Iraq have enough USD?" If you look at the massive amounts of Natural Gas, Oil, and potential that Iraq has - I say absolutely yes, they can afford to RV.

Indeed! Iraq can afford to do whatever they want to do! And if you dont believe that....well sorry

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Not sure why everyone assumes that Shabbibi, the CBI, the parliament, the Iraqi Government or anyone else will decide what rate and date the revaluation of the IQD will be. None of these players are responsible for this. Shabbibi will put in a request to the IMF and the IMF will approve it or dictate what they can or can't do. No country has the authority to revalue or re-denominate their currency without IMF approval.

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Not sure why everyone assumes that Shabbibi, the CBI, the parliament, the Iraqi Government or anyone else will decide what rate and date the revaluation of the IQD will be. None of these players are responsible for this. Shabbibi will put in a request to the IMF and the IMF will approve it or dictate what they can or can't do. No country has the authority to revalue or re-denominate their currency without IMF approval.

http://www.ieo-imf.org/ieo/files/issuespapers/041906.pdf

Read page two and three.....

Seems that the IMF's role in exchange rates of a country is to simply offer advice to keep stability present.....its still up to the member country what they wish to do with their exchange rate....the IMF is just there to help....at least thats what Im getting....

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http://www.ieo-imf.org/ieo/files/issuespapers/041906.pdf

Read page two and three.....

Seems that the IMF's role in exchange rates of a country is to simply offer advice to keep stability present.....its still up to the member country what they wish to do with their exchange rate....the IMF is just there to help....at least thats what Im getting....

Really???..I thought the rates were determined by the Gurus

Edited by GotSix
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http://www.ieo-imf.org/ieo/files/issuespapers/041906.pdf

Read page two and three.....

Seems that the IMF's role in exchange rates of a country is to simply offer advice to keep stability present.....its still up to the member country what they wish to do with their exchange rate....the IMF is just there to help....at least thats what Im getting....

Now Keep um....the IMF is just there to help? They can **** their friends but lets not **** each other.

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You are of course right, these articles are what they are and all of them are plainly stating they are going to RD, it does us no good to read into it the way we WANT it to be because that won't change a thing. Our only hope here is that they might be lying to cover their real intentions but that hope is looking more bleak the longer it goes on and with every time a new article comes out.

Dougie...Dougie...

You know the US government says we have the best healthcare system in the world...and they say (in their brochures) joining the Army is a good way to see the world...and we'll be fine 13 trillion dollars in debt...and we are not in the ME for oil....

It's what they say, right? So it must be true. And there is a Santy Claus - his red suit comes from a Coca Cola campaign back in the day...

If we added up all the political lies we've been fed for years, and they were TOOTHPICKS, they would stretch to the moon andback.

Follow the money to Iraq and relax.

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Okay...so here we go. If I take an item in Iraq and it is priced in dinars and dollars...then if I revalue a dinar to a dollar then their is only one price left. Lets dumb it down a bit. Peal the Dinar price off of the item, and only leave the dollar price, and call it a Dinar. Wow! 1 to 1. Now, that is amazing. Education at it's finest. Yep! They need a long time to educate the people of Iraq on that one. LOL! :blink:

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A redenomination would not entail you exchanging one for one....thats where alot of confusion arises because so many have now twisted a redenomination as something that we want or something that has to be done now....and its funny because when I was first invested a redenomination was known as what we dont want and it was said it would never happen....now the truth has become fuzzy for a lot....

If they revalue 1 to 1 with the USD there is no need for a redenomination.....if you RD a 25k dinar note (the way the CBI is describing) that is equal to 25k USD because the exchange rate is 1 to 1 then you would be moving the decimal place over 3 places still and now your 25k dinar is worth 25 new dinar and each new dinar would be worth like 860 USD laugh.gif Thats just not happening......not even in Okies world...that would be a new high record rate for him!

So KeepM you are saying that if they revalue the current IQD 1:1 with the USD then a 25K IQD note is now worth $25,000.00 USD once exchanged.

But you also say that if this does happen, then there won't be a need to Redenominate.....................how can this work?

I mean you are saying if I was an Iraqi and wanted to by a loaf of bread which now cost 1 new IQD and all I had was an OLD 25K IQD note and the baker only had the NEW IQD.........I'm guessing that he wont have the change to give to him since there was ONLY a Revaluation and NO Redenomination?:unsure:

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this article is a rehashed old article, from basically someone who obviously doesn't read reports very well if at all since everything was explained in detail in it according to Shabibi and she basically explained the exact opposite that Shabibi has said is in the report. and yes since they will RV they will have a huge need to RD the currency otherwise carrying around one note in their pocket would be a huge personal security risk since it would be so valuable. It would also be impossible to make change to buy goods that would cost far less. Folks please don't fall into the tired argument that Keepemwalkin continues on with these butchered articles about this lady who is a self proclaimed expert at confusion and not much more. Just keep the faith and the patience you display will be rewarded.

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