$1.00 to $1.00

[pocono]

What Shabibi wants to do is get all the old notes in to the CBI so that he can then release the new denominations. The proces is to RV at whatever rate he determines (1$ for 1 dinar is good) and then intoduce the new denominations over a two year period! Sloth says it is horrible news for us!! I don't see how. His math is what's horrible. If you have a million dinars (you paid less than pennies on the dinar for the million dinars you own) and it RV's at 1 for 1, you will have one million dollars when you cash in, plain and simple!

Agreed..plain and simple ..but it begs the question..Why ? Why would Shabibi pay 1 million dollars for every thousand we invested....would you ? Is it in Iraqs best interest ?

[TFK]

Agreed..plain and simple ..but it begs the question..Why ? Why would Shabibi pay 1 million dollars for every thousand we invested....would you ? Is it in Iraqs best interest ?

This is the same BS that has been spouted for months by the CBI & GOI. He isn't going to pay us anything. Their money will be just worth that much more! Right now there currency is based on a broken down, war torn and beaten country. When it rv's it will be based on the real potential of a thriving democracy with outragious wealth, with a world of investors that will beat down the doors to get into it!!!

For those of you that think it will LOP. Why, why on earth would Iraq want to continue to have a currency that is worthless and rendered virtually untradable. How will Iraq gain wealth and prominence and attract foreign investment by making their currect currency more worthless than it is now?

The only way they will come out of this with the possibility to have a thriving economy is to have a strong re-valuation of their currency. And I don't mean ridiculous amounts. It will revalue at 10-20 cents and build from there.

[reveldog]

Its saying it will RV to 1 Dinar to 1 Us dollar, that rate will hold for 2 yrs before raising in value.

in a nut shell

thats what i got

[suzieQ]

I dont want to speak for SLOTH but I believe his comments of losing 100-300 dollars is resulting from his suspicion that Iraq will lop. taking our million dinar to a thousand dinar... then revaluing to 1 to1.

just a guess. This scenario creates a loss or break even investment for those who spent $1000 or more dollars on 1 million dinar. This doesnt even consider exchange fees etc.

We are all hoping this is not the scenario.

blessings to all!

Ahhhh...ok, well if that's the case, then maybe there will be such a loss, BUT, IMHO I honestly believe it makes more sense to do the $1 to $1 before dropping the 3 zeros. How much easier can it get for Iraqi people? We all know their confusion as it is. I'm sure the government does not want to upset them at this stage. It only makes sense that for the next 2 years (starting Dec 15th hopefully) they will tell their people that the dinar is now equal to the US dollar. The purchasing will not change, only the looks of the money they have been so use to using. A gallon of milk is now 5 IQD instead of 5 USD. During this time frame, CBI can pull in all the US dollars that are being used in Iraq, because now the people no longer need them, and at the same time, pull in the larger notes over the next 2 years, without it taking away, or causing a "loss" to anyone holding dinar....especially the Iraqis. IMO I feel, if I were an Iraqi and had a 25k note and a 500 note and all of a sudden woke up and my 25k basically became 25 dinar, yet my 500 had all kinds of power I would be so confused and upset I'd probably start a war!... If the US told me my $1000 bill (if we still had one) is now only equal to $1, but my $100 bill is still $100, by george I'd be on a rampage of confusion! (If you do hold a $1000 US note, then it is still worth $1000)

Just my thoughts about it....I may be way off base, but logic tells me I'm pretty darn close to the strategy. But then again...I'm no economist, I'm no currency pro...but have a knack of thinking logically outside the box.

[RICK C]

This is the same BS that has been spouted for months by the CBI & GOI. He isn't going to pay us anything. Their money will be just worth that much more! Right now there currency is based on a broken down, war torn and beaten country. When it rv's it will be based on the real potential of a thriving democracy with outragious wealth, with a world of investors that will beat down the doors to get into it!!!

For those of you that think it will LOP. Why, why on earth would Iraq want to continue to have a currency that is worthless and rendered virtually untradable. How will Iraq gain wealth and prominence and attract foreign investment by making their currect currency more worthless than it is now?

The only way they will come out of this with the possibility to have a thriving economy is to have a strong re-valuation of their currency. And I don't mean ridiculous amounts. It will revalue at 10-20 cents and build from there.

I can and DO agree with all you say here EXCEPT your part here < with all respect I DISAGREE = ". It will revalue at 10-20 cents and build from there."

When Gov Shabibi spoke at Harvard University he asked and all heard him say that Iraq would have the strongest Currency in the ME and asked everyone to consider investing in the New Iraq. Because of the newly formed Gov and the stability Iraq RESOURCES.

aND

And WITH ALL THE BIG COMPANY'S OVER THERE for How long now=YEARS, they sure won't loose money and only a strong Revaluation on Par with surrounding countries will accomplish what Iraq is truly after, To become a World player and Prosper so as to Build a New Modern Iraq.Their slow yes, but they will accomplish the Dream. Their dream of a better life for Future Generations to come. Just my own thoughts after waiting all these years. time is AT HAND. Shadow

[Sloth]

I dont want to speak for SLOTH but I believe his comments of losing 100-300 dollars is resulting from his suspicion that Iraq will lop. taking our million dinar to a thousand dinar... then revaluing to 1 to1.

just a guess. This scenario creates a loss or break even investment for those who spent $1000 or more dollars on 1 million dinar. This doesnt even consider exchange fees etc.

We are all hoping this is not the scenario.

blessings to all!

thank you for clarifying. this is exactly what i meant.

[coldwarvet]

Once again, many of us are reading into this what we think they're ayaing. Easy is right on about these translations being horrible. Remember also that the phrase speaking about "the project to raise the three zeroes" includes both the RV and the removal of the larger bills from circulation. Where the speculation in this discussion comes in is about the sequencing of those actions. Let's not read too much into the sequiencing of these phrases; we don't know for sure how this will go down.

Keep in mind that our buddy Mohammed Saleh has always said that there needed to be an education campaign about an RD before it happened. Speaking of which, I think it's significant that Saleh hasn't spoken in public recently. So if there will be an RD first, where's the education campaign? Could it be that Saleh's disappearance from public view means that his viewpoint has been discredited? Hmmm.

Even more important, does anyone know exactly what's in the legislation? That, more than anything else, will tell us what we need to know.