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

[Anti This Anti That]

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!

I think you are Dinarck or XYZZY re-incarnated as DougsDinar. You present the same old tired things those two birds promoted. I am now blocking all lopsters because i do not like the attitudes. Know it alls, who know very little.

[Luigi1]

More evidence of a LOP. ID 25,000 will become ID 25. To LOP will not be enough to get ID 40 Trillion down to ID 15 Billion. There will have to be a RV after the LOP.

[iqdheadlines]

More evidence of a LOP. ID 25,000 will become ID 25. To LOP will not be enough to get ID 40 Trillion down to ID 15 Billion. There will have to be a RV after the LOP.

So what you are saying is not correct if it were to happen the way you think.

In order for there to be a Redenomination a Revaluation has to occur at the same time because if a 25K note becomes a 25 note as a result of a Redenomination occurring a Revaluation is occuring as well at the same time because 0.00086 is now 1.00, that since a 25K note becomes a 25 note.

For the CBI to reduce the money supply from 40 Trillion down to 15 Billion there has to be a Revaluation, Redenomination then a 2nd Revaluation.

40,000,000,000,000 Trillion x 1:1 Revaluation/Redenomination = 40,000,000,000 Billion divided by 15,000,000,000 Billion = $2.66 USD per IQD.

So the first Revaluation is $1.00 per IQD from $0.00086 per IQD and the 2nd Revaluation is $2.66 per IQD $1.00 per IQD.

Remember this is face value RV/RD/RV.

[Darin]

First lira

After periods pegged to the British pound and the French franc, a peg of 2.8 lira = 1 U.S. dollar was adopted in 1946 and maintained until 1960, when the currency was devalued to 9 lira = 1 dollar. From 1970, a series of hard, then soft pegs to the dollar operated as the value of the lira began to fall.

Because of the chronic inflation experienced in Turkey from the 1970s through to the 1990s, the lira experienced severe depreciation in value. Turkey has had high inflation rates compared to developed countries but has never suffered hyperinflation. From an average of 9 lira per U.S. dollar in the late 1960s, the currency came to trade at approximately 1.65 million lira per U.S. dollar in late 2001. This represented an average inflation of more than 40% per year.

1966 — 1 U.S. dollar = 9 lira

1980 — 1 U.S. dollar = 90 lira

1988 — 1 U.S. dollar = 1,300 lira

1995 — 1 U.S. dollar = 45,000 lira

1996 — 1 U.S. dollar = 107,000 lira

2001 — 1 U.S. dollar = 1,650,000 lira

2004 — 1 U.S. dollar = 1,350,000 lira

2005 — 1 U.S. dollar = 1.29 new lira (The use of New Turkish Lira, which drops 6 zeros from the currency Turkish Lira, was implemented in 2005)

2007 — 1 U.S. dollar = 1.26 new lira

2008 — 1 U.S. dollar = 1.55 new lira

2009 — 1 U.S. dollar = 1.48 new lira

2010 — 1 U.S. dollar = 1.44 lira

2011 — 1 U.S. dollar = 1.81 lira

In 2010, the name was converted to Turkish Lira, but New Turkish Lira was used as currency until 31 December 2009. In the last decade, the Turkish lira stabilized against the U.S. dollar and the euro, although in 2011 it has been losing value steadily. The Guinness Book of Records ranked the lira as the world's least valuable currency in 1995 and 1996, and again in 1999 through 2004. The lira had slid in value to such an extent that one original gold lira coin could be sold for approximately 120,000,000 lira prior to the 2005 revaluation.

Second lira

In late December 2003, the Grand National Assembly of Turkey passed a law that allowed for redenomination by the removal of six zeroes from the lira, and the creation of a new currency. It was introduced on 1 January 2005, replacing the previous lira (which remained valid in circulation until the end of 2005) at a rate of 1 second lira (ISO 4217 code "TRY") = 1,000,000 first lira (ISO 4217 code "TRL"). With the revaluation of the Turkish lira, the Romanian leu (also revalued in July 2005) briefly became the world's least valued currency unit.

In the transitional period between 1 January 2005 and 31 December 2008, the second lira was officially called Yeni Türk Lirası (New Turkish lira).[3] It was officially abbreviated "YTL" and subdivided into 100 new kuruş (yeni kuruş). With effect from 1 January 2009, the "new" was removed from the second lira, its official name becoming just "lira" again, abbreviated "TL".

So lets get this straight, the media articles refer to Turkey on numerous occassions and the conclusion from their R/D was not exactly favorable.

Look at the history and how they're already starting to depreciate in value.

When the # on the right goes up, that means it takes more of their currency to get a dollar. It does not appear stable, as it has been jumpin up & down since than.

From 1.29 to 1.81

That is an additional 0.52 lira required to get 1 $US dollar from R/D implentation to present day.

To put this in better terms, if you were to have invested in the Lira post re-denomination, present day, you would have lost roughly 40% of your original investment over the duration of 6 years.

And their people are supposed to see the R/D as a good thing?

Heck, at least from 2001 to 2005, it appeared to be appreciating in value... (Althought it had 6 zeros)

[Darin]

So lets get this straight, the media articles refer to Turkey on numerous occassions and the conclusion from their R/D was not exactly favorable.

Look at the history and how they're already starting to depreciate in value.

When the # on the right goes up, that means it takes more of their currency to get a dollar. It does not appear stable, as it has been jumpin up & down since than.

From 1.29 to 1.81

That is an additional 0.52 lira required to get 1 $US dollar from R/D implentation to present day.

To put this in better terms, if you were to have invested in the Lira post re-denomination, present day, you would have lost roughly 40% of your original investment over the duration of 6 years.

And their people are supposed to see the R/D as a good thing?

Heck, at least from 2001 to 2005, it appeared to be appreciating in value... (Althought it had 6 zeros)

To add an additional variable to the mix, the USD has lost value during the 2008 / 2009 era. We printed more USD, and in essence, our USD lost value. See, everytime we print more USD, it takes away value from already existing money. Using this same method in reverse, in theory, should add value to money. But, with the USD, that doesn't happen...

So, I like to believe, that the CBI prints more IQD to replace soiled bills in their economy, but does not remove the liabilities of the pre-existing soiled IQD. Essentially, continously inflating their money supply while having low inflation & keeping a stable rate. Some would argue this theory, but it would help increase the value of their IQD significantly is I was right (Not like the $3++ range many hope for though)...

Just imagine if their money supply was in reality 6 trillion... (A good rough estimate)

They have 60 billion USD (or value equivalent to back it) which would lead to an easy $0.01 exchange with current monetary policies..

Add in additional X-factors, such as demand and that # can only go up.