Abadi " the start of the new currnecy to replace beginning of 2012"

[lcheung]

keepmwlknfny

do u think it will rv / ri within 30 days?

[joseroque]

I agree with Carrello, we should not encourage him. The date mentioned is the 9th of december, 2011. It is the same here in PR but we have the problem that we also have american english as a second language and as you know, the month goes first so sometimes it gets confusing here!

[Darin]

Yea there will be a RV, but from these articles its after the lop.....the last statement should clue you in on the lop because its saying many other countries have replaced their currency in the same context as what the CBI is explaining and they use the countries France and Turkey....

Well if you look up what those countries did they lopped....all the talk of reducing the money supply from 25 trillion down to the billions is talking about a lop....there will certainly be an RV in the way they are describing things, but it wont be for the old currency that we hold....only the new currency would carry a new higher value...

If we attempt to decipher some of these messages, it appears as if they're trying to get speculators to cash out & prepare to buy in for the new lower denominations upon release. Think about it, if they were to R/V prior to release of lower denominations, than, it is just less they have to pay out against.

For example, if you knew you were going to R/V to $0.86 or 1:1, you would wish to draw in speculative holders. They're the ones who will cash out on you when you R/V. If you make it appear as if it will be a straight up R/D and will strengthen the value down the road, some people may consider exchanging back to their own personal domestic currency & wait for the release of the new currency.

Make sense? Its a potential theory.... And I only throw it out as a theory because it is what I would do if I was Shabbs, find tricky ways to get them 000s back before the R/V.

If they do R/D, I bet you will see their verbage change in the articles... I bet we see a great amount of emphasis on how the people will have 2-3 years to exchange old for new..

This will be their attempt to prevent a run on exchanges from speculators.

Its another move I would do, because I know a run on exchanges at the bank would be a significant impact. Yes! The goal would be to draw those notes in, but not an abundance at one time as you have to exchange them out for something other than your new lower denoms. Reserves will fluctuate & take a hit..

[keepmwlknfny]

Re-Denomination is not bad.

Its bad if your expecting a HUGE return on this investment......redenominations wont make any of us any money....

But Keepm, when one says "old currency", I think of the saddam notes(pre 2004 I believe, don't quote me on it), where the ones we have I would consider "new currency".

Yea we do have the newest currency, but from what they are saying, they are printing a brand new currency to replace what we have now, which would deem ours the old currency.....

No, for 2 years they will have us hold on to the notes? Or rush to exchange for the new? I don't think so. They want them in. 25 trillion to billions. Ok look at this, 25 trillion dinar, to billions of us dollars. It might have a new name, but the new name gives it more power. (value) I know how the Euro went. It was 1 to 1 same value, but if you were a forex trader you held on to it, and your pips made you some money. Even if you exchanged them for the even exchange and held on, it passed the dollar. Besides the point, talking Euro and talking Turkey is whole new ballgames. Because the parliament does not understand and CBI representives have been explaining over and over again about the deleting zeros and using Turkey for their example. Shabibi is going pull in notes, balance the sheets and RV. The words from his mouth. Once they change the value, they change it, It will be sooner, not later. There is about 3 reasons for this. Trade able currency, large transactions, and their own currency. They are a proud people. You should know this. And they want their stature back.

The exchange process will take up to two years like they have said....that way there is no mad rush on the banks to exchange and the process can be more lax and not with such a time restraint making the process easier....

In order for there to be such an even reduction in notes they are taking 3 zeros off every note in the current series, classic lop/rd....your right, talking the euro rd compared to the turkey rd is two different things but unfortunately Iraq only relates their plan to delete the zeros to how turkey, brazil and other countries that have lopped....if they didnt repeat over and over and over about those countries that lopped, then there wouldnt be such an issue on whether or not they are talking about a straight up RV or not.....none of the countries that Iraq mentions, straight up RVd their currency....they lopped, issued a new currency, and only the new currency got the new higher value.....and thats what Shabs and the CBI have been getting at...

keepmwlknfny

do u think it will rv / ri within 30 days?

Nope.....

[lcheung]

Its bad if your expecting a HUGE return on this investment......redenominations wont make any of us any money....

Yea we do have the newest currency, but from what they are saying, they are printing a brand new currency to replace what we have now, which would deem ours the old currency.....

The exchange process will take up to two years like they have said....that way there is no mad rush on the banks to exchange and the process can be more lax and not with such a time restraint making the process easier....

In order for there to be such an even reduction in notes they are taking 3 zeros off every note in the current series, classic lop/rd....your right, talking the euro rd compared to the turkey rd is two different things but unfortunately Iraq only relates their plan to delete the zeros to how turkey, brazil and other countries that have lopped....if they didnt repeat over and over and over about those countries that lopped, then there wouldnt be such an issue on whether or not they are talking about a straight up RV or not.....none of the countries that Iraq mentions, straight up RVd their currency....they lopped, issued a new currency, and only the new currency got the new higher value.....and thats what Shabs and the CBI have been getting at...

Nope.....

hey keepmwlknfny

if u think it will loop and wont rv within 30 days, how come u dont sell all your dinars and invest somethings else?

[keepmwlknfny]

hey keepmwlknfny

if u think it will loop and wont rv within 30 days, how come u dont sell all your dinars and invest somethings else?

If I had this thing figured out and I really thought the only option they had was to lop, then I wouldnt be here.....they have options....but the CBI and Shabibi are the ones talking about a lop.....

Just cause I dont think it will RV in 30 days I should sell? WOW!! Thats pretty funny bro....

[frankc]

Its bad if your expecting a HUGE return on this investment......redenominations wont make any of us any money....

Yea we do have the newest currency, but from what they are saying, they are printing a brand new currency to replace what we have now, which would deem ours the old currency.....

The exchange process will take up to two years like they have said....that way there is no mad rush on the banks to exchange and the process can be more lax and not with such a time restraint making the process easier....

In order for there to be such an even reduction in notes they are taking 3 zeros off every note in the current series, classic lop/rd....your right, talking the euro rd compared to the turkey rd is two different things but unfortunately Iraq only relates their plan to delete the zeros to how turkey, brazil and other countries that have lopped....if they didnt repeat over and over and over about those countries that lopped, then there wouldnt be such an issue on whether or not they are talking about a straight up RV or not.....none of the countries that Iraq mentions, straight up RVd their currency....they lopped, issued a new currency, and only the new currency got the new higher value.....and thats what Shabs and the CBI have been getting at...

Nope.....

Keep, from all the articles it does appear they will do a lop/rd which means we will lose about 20 to 30% on our investment cashing back in. Your thoughts.

[jimweld]

nobody knows what they are gonna do I dont even think they know what they are doing

[cbs71]

nobody knows what they are gonna do I dont even think they know what they are doing

You got it my friend...we all have our theories and such, but the bottom line is...no one knows except for a few key folks like Shabs and it's not like they are going to tip their hand and let us know "exactly" what they plan on doing..

Hang in there....

[CrappieShark]

Please let me re-phrase. An Rd with an RV is not a problem. If Iraq honors the RD they had in 2004 and has an RV and then re-denominates with a new currency I am all for it. The reason Iraq is screaming to have all Chapter 7 sanctions lifted is that would give them full enablement to RD without honoring the RD in 04. The RD in 04 was to get rid of Saddam money and print new money to create a cash flow through foreign investment into the re-building of Iraq. If they RD without honoring the 04 RD then we are screwed. But I for one would never invest in Iraq money or anything in Iraq again. The reason behind giving them my USD to work with was to get gain from it and they knew that. To now want to call my investment fraud is one way of screwing me and to RD without honoring the 04 RD is another way. If they RV and then RD I am fine with the RD. However if you did not buy through a reputable source then you may lose your investment to "fraud". Chapter 7 sanctions being lifted pre RV gives them the right to RD and start over with no cares about your investment. There are some very disreputable people that hate foreign everything in this Iraq country. They do not just want to make sure that Kuwait does not get repaired and remunerated but they are wanting nobody to realize from the monetary investment that stabilized the Iraq country during the last few troubling years. Basically they do not want to keep their agreement. So since this is my own take I must say that and yet I feel some want to be honorable whil;e others do not. Do not lift chapter 7 until RV or at least RI.

[keepmwlknfny]

Please let me re-phrase. An Rd with an RV is not a problem. If Iraq honors the RD they had in 2004 and has an RV and then re-denominates with a new currency I am all for it. The reason Iraq is screaming to have all Chapter 7 sanctions lifted is that would give them full enablement to RD without honoring the RD in 04. The RD in 04 was to get rid of Saddam money and print new money to create a cash flow through foreign investment into the re-building of Iraq. If they RD without honoring the 04 RD then we are screwed. But I for one would never invest in Iraq money or anything in Iraq again. The reason behind giving them my USD to work with was to get gain from it and they knew that. To now want to call my investment fraud is one way of screwing me and to RD without honoring the 04 RD is another way. If they RV and then RD I am fine with the RD. However if you did not buy through a reputable source then you may lose your investment to "fraud". Chapter 7 sanctions being lifted pre RV gives them the right to RD and start over with no cares about your investment. There are some very disreputable people that hate foreign everything in this Iraq country. They do not just want to make sure that Kuwait does not get repaired and remunerated but they are wanting nobody to realize from the monetary investment that stabilized the Iraq country during the last few troubling years. Basically they do not want to keep their agreement. So since this is my own take I must say that and yet I feel some want to be honorable whil;e others do not. Do not lift chapter 7 until RV or at least RI.

If they RD, most likely the RV will follow for the new currency....not what we hold now. The exchange in 2004 wasent really a redenomination, they just changed the face of the currency and exchanged 1 for 1 (except for the swiss dinar). The process in which the CBI is saying they are pushing to do will not make us any money.....they are talking about RD at a ratio of 1000 to 1 with the new currency....if this bill passes then we will be lucky to break even due to fees paid.....

Not sure what you mean when you say if they RD and dont honor the 04 RD then we are screwed......can you explain that?

Keep, from all the articles it does appear they will do a lop/rd which means we will lose about 20 to 30% on our investment cashing back in. Your thoughts.

Warka.....lol....

[CrappieShark]

Again my take as I said before. When Iraq RDed in 04 1-1 for the now held currency the thought behind me ME investing was to make money on my investment. I am not sure about anyone else. I would not have bought any Iraq money without believing I would get a return. I am sure there are some who just wanted to break even welllll probobly not. If they RD now before RV then you are right it would not be a one to one. It would also be in country. That means again that you would have to ge through a bank or money merchant to exchange for the new dinar. If you can find a bank or money merchant authorized to handle new dinar in the USA. So we are screwed if they do not honor the 04 RD. That was Iraqs way of selling their money to get USD money which is more valuable than the dinar so they would have a way to buy worldwide commodities as the dinar was not a recognized WTO World Bank currency. Now after they begin to get on their feet to say they do not want to buy the dinar back with a re-valued currency is like telling dinar invested persons to get screwed.

[sportfisher]

Watch it play out.

I am in it until the end

[GotSix]

Again my take as I said before. When Iraq RDed in 04 1-1 for the now held currency the thought behind me ME investing was to make money on my investment. I am not sure about anyone else. I would not have bought any Iraq money without believing I would get a return. I am sure there are some who just wanted to break even welllll probobly not. If they RD now before RV then you are right it would not be a one to one. It would also be in country. That means again that you would have to ge through a bank or money merchant to exchange for the new dinar. If you can find a bank or money merchant authorized to handle new dinar in the USA. So we are screwed if they do not honor the 04 RD. That was Iraqs way of selling their money to get USD money which is more valuable than the dinar so they would have a way to buy worldwide commodities as the dinar was not a recognized WTO World Bank currency. Now after they begin to get on their feet to say they do not want to buy the dinar back with a re-valued currency is like telling dinar invested persons to get screwed.

What I just read was pretty "Crappie"

[CrappieShark]

Crappie is a fish Crappy is a term. So are you saying pretty fishy or pretty smelly or both? lol

[GotSix]

Crappie is a fish Crappy is a term. So are you saying pretty fishy or pretty smelly or both? lol

If this was addressed to me ....then very stinky...

Edited December 10, 2011 by GotSix

[truthful1]

A $1.00 rv, would create a M2 value of approx $60 trillion dollars for Iraq, currency in circulation with a value approx. $30 trillion dollars. I think people forget about how outrageous those numbers are. Some just say, with such ease, how Iraq can revalue. I believe Iraq can rv up to about .10 max. It doesnt matter what the exchange rate was before or what Kuwaits value is. Economical its impossible. The inflation that would follow, alone proves to me to be impossible for a dollar rv. Think for one second, how much oil will Iraq decide to give away to reclaim these notes, just to reduce the money supply??? Lets see, Iraq can lop and keep there wealth, RV at a high rate basically giving away oil forever, or rv low and reclaim as much currency as possible before increasing the rate again, while helping the economy and not robbing from it.

Iraq can just issue new notes ( lower denoms) and gradually remove the higher notes, without saying anything. When they say Redenomination, there speaking of a an entire new line of currency. I dont understand why people dont get that. The term rd alone, means one thing. The fact the cbi is educating on a rd, tells me, they mean rd. I dont like it, but thats staight up what they mean.

How can you go from trillions to billions without a lop. you cant. it would take years to lower the currency in circulation. Thats another indicator. Trillions to billions is simple. If you rv at a dollar. You take the value to trillions and keep the currency in circulation to trillions. I honestly see just one way to billion. Dont you guys. I mean all emotions aside.

Edited December 10, 2011 by truthful1

[truthful1]

If an RV is the solution to the World crisis. Why dont they just rv the EURO to $4.00 and all the worlds problems are fixed.

[CrappieShark]

If this was addressed to me ....then very stinky...

Well both fish and crap are very stinky. It may be debatable which smells the most and the longest. I believe it would be fish as crap seems to go the organic way much sonner than fish. Just saying. But debatable. That is why I clean my fish and sanitize my crap through sewage alternatives. The leftovers from my fish I bury so that it can be productive. The leftovers from my crap I flush so it will just go away. What do we do with this fishy crap. Bury it or flush it?

[GotSix]

Well both fish and crap are very stinky. It may be debatable which smells the most and the longest. I believe it would be fish as crap seems to go the organic way much sonner than fish. Just saying. But debatable. That is why I clean my fish and sanitize my crap through sewage alternatives. The leftovers from my fish I bury so that it can be productive. The leftovers from my crap I flush so it will just go away. What do we do with this fishy crap. Bury it or flush it?

Dude...if you really want to be "productive"...take both "your crap and your fishes crap"...insert them direclty in your aress...then "flush" so then "you'll just go away"

[imgesing]

I wish it could happen that way.....but who is going to give us face value for our dinars when the central bank of Iraq wont even give that to its own people?? The bank wont cash you out at face value if the currency is being lopped.....if it lops in country, then it lops for everyone else too

In your humble oppinion. The truth is we just dont know what they are exactly doing.

We can see that our hopes will be fulfilled soon enough but how is something so guarded that all we can do is speculate.

The best part of this site is reading everything as if someone knows something better than the rest of us. Few are more educated or informed in some way but most of us THINK we know.

Go RV and I hope we all do well and soon.

Peace...

[truthful1]

In your humble oppinion. The truth is we just dont know what they are exactly doing.

We can see that our hopes will be fulfilled soon enough but how is something so guarded that all we can do is speculate.

The best part of this site is reading everything as if someone knows something better than the rest of us. Few are more educated or informed in some way but most of us THINK we know.

Go RV and I hope we all do well and soon.

Peace...

so true........we all want a rv and none of us knows what will happen. but theres nothing wrong with throwing speculation, thought, theories, and questions around to think of all the angles and possibilities.

[keepmwlknfny]

In your humble oppinion. The truth is we just dont know what they are exactly doing.

We can see that our hopes will be fulfilled soon enough but how is something so guarded that all we can do is speculate.

The best part of this site is reading everything as if someone knows something better than the rest of us. Few are more educated or informed in some way but most of us THINK we know.

Go RV and I hope we all do well and soon.

Peace...

We dont know exactly what they are doing, but from the statement I said thats not really just my opinion, no central bank is going to RD their currency for the country, and then give the rest of the world face value for the bills they hold....

What bank do you know that you could walk into and get paid 1000 times more then what something is worth?? When you find out, let me know cause I got an account to open!!

[CrappieShark]

So glad six you got my message. Be a good boy and play by the rules. Or just come to Ok. We have laws that apply to peeps like you.

[zul]

We dont know exactly what they are doing, but from the statement I said thats not really just my opinion, no central bank is going to RD their currency for the country, and then give the rest of the world face value for the bills they hold....

What bank do you know that you could walk into and get paid 1000 times more then what something is worth?? When you find out, let me know cause I got an account to open!!

Hey Keep... Assuming they LOP and then RV the new denom, say 1 : 3 USD. ~ you did say they will only RV the new currency (new denom).

What bank do you know...would takes in 25,000 IQD worth 21.50 USD ( @ 0.00086) and gives you a new 25 dinar with a purchajing power of USD 75.00. (during the exchange process)

Bank takes in USD21.50...and you walk away with USD 75.00?? Not going to hapen, my fren. Considering they have almost 16 trillion dinar for their 25k notes alone ( roughtly about 640 million pieces of 25K notes in total).....

If they LOP but dont RV their new denom.....what incentive would the normal Iraqis have, to exchange their 25,000 note for a newb 25 dinar notes...they dont have to ~ because CBI said the new and the old currency would co-exist.

Anyway....Saleh (CB) did say this : Salih said by the end of 2010 the new banknotes will be fully introduced while the old banknotes ==> will be gradually removed from circulation. <===He did not specify when the new notes would be issued..

http://************.com/2010/12/17/flashback-feb-26-2010-iraq-planning-currency-redenomination/