Thread: Iraq/Dinar News. 09/05 to 01/14/07

[QUOTE=Loops]

Originally Posted by Raditz

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A statement was made to AL Sabah by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar.


Comon its staring you guys right in the face. Its a zero lop.

Three zeros be taken OFF from the DINAR (e.g. your cash) = a reprint and cash changeover.

You will exchange your 25000 notes for a new 25 dinar note with higher value.

If you can do this you may see a return on your investment around 30-40% or so providing you can exchange in time.

You wont be walking away with millions that is for sure.

Its perfectly clear to me.

But i guess none are so blind as those who WILL NOT see.

I would have thought all the impracticalities of instantly raising the exchange rate to 1-1 would have been understood by now. lol seeing as how ive had to explain it about a million times.

They simply cannot and i repeat cannot no way in hell nada zip zilcho impossible no chance of happening support a rate of 1-1 with the current amount in circulation no matter what any of you think.

Thats all there is to it.


How many times do i have to say this?

Im so unbeleivably confident that i am right that i will buy everyone on this forum a keg of their favorite ale if i am proven wrong and we walk away with millions.

Baker Jaber AL Zubaidi: Iraqi Dinar Value should be Raised 29/06/2006 Source: Al-Sabah

The Ministry of Finance together with the Central Bank are studying a proposal to raise the value of the Iraqi dinar in order to return it to previous levels where one Iraqi dinar was valued at 3.33 US dollars. This was pre 1980 before Iraq became involved in three destructive wars that at one time led to the currency's value dropping to a level of 3,000 Iraqi dinars to one US dollar. The proposal has the support and approval of the World Bank.

A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar. He explained that the financial authorities were set on holding a meeting next month to discuss the matter. The meeting is to be attended by experts and specialists from the Ministry of Finance, the Iraqi Central Bank and the Commercial Bank .

The new Minister confirmed that 2007 would see the preparation of a qualitative budget, the first of its kind in Iraq history, and that the new program would pinpoint economic indicators.

http://www.iraqdirectory.com/DisplayNews.aspx?id=1593

"I would have thought all the impracticalities of instantly raising the exchange rate to 1-1 would have been understood by now. lol seeing as how ive had to explain it about a million times. "


An exchange rate of 1:1 would only be 1/3 of it's prior value. Why is it so out of the realm of possibility to you?

It's not like there is talk of IMMEDIATELY starting the peg/revalue at $3.41. And from what I understand the current amount of Dinars in circulation is not the ONLY factor in determining a new exchange rate.

P.S. Please don't shake your finger at the members, it's impolite...and I'm sure someone is looking for a smiley shaking a 'special' finger at you!

[QUOTE=SoFla]

Originally Posted by Loops

Baker Jaber AL Zubaidi: Iraqi Dinar Value should be Raised 29/06/2006 Source: Al-Sabah

The Ministry of Finance together with the Central Bank are studying a proposal to raise the value of the Iraqi dinar in order to return it to previous levels where one Iraqi dinar was valued at 3.33 US dollars. This was pre 1980 before Iraq became involved in three destructive wars that at one time led to the currency's value dropping to a level of 3,000 Iraqi dinars to one US dollar. The proposal has the support and approval of the World Bank.

A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar. He explained that the financial authorities were set on holding a meeting next month to discuss the matter. The meeting is to be attended by experts and specialists from the Ministry of Finance, the Iraqi Central Bank and the Commercial Bank .

The new Minister confirmed that 2007 would see the preparation of a qualitative budget, the first of its kind in Iraq history, and that the new program would pinpoint economic indicators.

http://www.iraqdirectory.com/DisplayNews.aspx?id=1593

Look a Newbie and welcome to rolclub SoFla. This is so simple and thank you for showing others that a Newbie can read and understand what this thread has been putting out about the equal of the Dinar To the Dollar is coming. Thanks SoFla.

Why wont you understand that it is impossible to pay out even a tenth of the current speculators if they just decide that a 25k bill instead of being worth 17 bucks is now worth 25000 dollars?

IT WILL BANKRUPT THE CBI!

They cannot do it. Not to mention the chaos it would cause in iraq itself.

You think the violence is bad now? Whats going to happen when everyone knows that any old person could have 50000 dollars in their pocket or a child has now thousands of dollars worth of dinar from yesterday?

Muggings will be all over the place.

What about the general purchases in iraq? If they revalued it and didnt issue a new currency then how is anyone going to pay for anything? Ive allready said this but you cant pay for a 1 dollar coke with a 10000 dollar bill.



The CBI is going to do everything in their power to stop us speculators from taking their money. What makes you think they are going to just give away millions or even billions of dollars just like that when they can so easily screw us all over?

Your viewpoint just does not make sense.

Please support your argument with positive economic statements instead of normative ones.

(please google those phrases if you do not understand them).

Ignorance is worse than stupidity. Stupidity has a cure. Ignorance does not.

Actually you've got ignorance and stupidity reversed...Ignorance is rectified by studying and learning. Stupidity is typically more reticent to vacate one's cranial cavity...

I doubt seriously that the "average" Iraqi citizen has 25K notes in his/her possession but let's just say for the sake of argument, the average citizen does...Then "everyone's" money will be worth $25K US. Think of how much more purchasing power the individual would have...There would be no need to "mug" anyone for you've just been "enriched" with the revalue.

You're arguing apples to oranges just for the sake of arguing. Either provide valid points for your antagonism or I'll see to it that you antagonize people here no longer...

EW

Originally Posted by neno

Hey Monica,

Tell you what I just did. I took a 5000k note and rubbed it on a white envolope I had here at the Desk. I rubbed it pretty hard too. Now these are new notes. I did get a Blue Ink smear across where the envolope is put together. But not much.

You Know when you read the Newspaper on that cheap thin paper and all the ink comes off between the fingers. Well it is pretty freash Ink.

I also just took a brand new $20.00USD bill I just got from the ATM the morning 10 of them and did the same thing. And they are brand new too. And also in sequence as well. "GUESS WHAT"? I got Green and black ink on the envolope too.

Hope this helps. You even made me worry. Had to pull out the USD and check it aswell.

Neno, You are an angel! Thank you so much! I too am a fan of The Matrix, Keanu Reeves is such a hunk, a stud.....oh just plain cute!

[QUOTE=Loops]

Originally Posted by Raditz

--------------------------------------------------------------------------------



A statement was made to AL Sabah by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar.


Comon its staring you guys right in the face. Its a zero lop.

Three zeros be taken OFF from the DINAR (e.g. your cash) = a reprint and cash changeover.

You will exchange your 25000 notes for a new 25 dinar note with higher value.

If you can do this you may see a return on your investment around 30-40% or so providing you can exchange in time.

You wont be walking away with millions that is for sure.

Its perfectly clear to me.

But i guess none are so blind as those who WILL NOT see.

I would have thought all the impracticalities of instantly raising the exchange rate to 1-1 would have been understood by now. lol seeing as how ive had to explain it about a million times.

They simply cannot and i repeat cannot no way in hell nada zip zilcho impossible no chance of happening support a rate of 1-1 with the current amount in circulation no matter what any of you think.

Thats all there is to it.


How many times do i have to say this?

Im so unbeleivably confident that i am right that i will buy everyone on this forum a keg of their favorite ale if i am proven wrong and we walk away with millions.

I haven't posted on ROL for a long time. None of you know me. I am not promoting Free Dinar, but if you go over there and listen to the taped calls by Dr. Quodar (sp?), an economist from Iraq, you will hear his explanation of what zero lopping is. It is not , from what I can tell, what everyone is so afraid of. It is lopping zeros off the exchange rate, which is good.

So loops, why not go over there and listen to someone who has a phd in economics and resides in Iraq and actually knows many of the people being appointed to the new Iraqi govt. I believe this is as close to getting it from the horses mouth as it gets. Better than continuing to get it from the other end, eh?

Bill

Originally Posted by everwiser

Actually you've got ignorance and stupidity reversed...Ignorance is rectified by studying and learning. Stupidity is typically more reticent to vacate one's cranial cavity...

I doubt seriously that the "average" Iraqi citizen has 25K notes in his/her possession but let's just say for the sake of argument, the average citizen does...Then "everyone's" money will be worth $25K US. Think of how much more purchasing power the individual would have...There would be no need to "mug" anyone for you've just been "enriched" with the revalue.

You're arguing apples to oranges just for the sake of arguing. Either provide valid points for your antagonism or I'll see to it that you antagonize people here no longer...

EW

Well well stated EW, I have to agree with you on that.

IF a country wants to rebuild, and give the average citizen the buying power to invest in their own country they are going to have to continue with the status quo. What Loops is proposing is not logical to anyone's thinking.

If they take a 25,000 dinar and lop off the 3 zeros as Loops is saying, that would make it worth 25$, that would mean that 1,000,000 in Dinar would only be worth 1000$usd. Can't happen it would shove the economy into a worse decline than they are in right now. You have to remember that these people right now are stuggling hand to mouth, the government would be remiss if they threw the whole monitary system into a worse sprial than it is in already. They are looking at opening the ISX the first of September. PEPSI isn't going to stand to have their stock valued at $0.30 a share, when it is trading at a much higher rate with the dollar.

Not saying that it can't happen, but it doesn't make the least bit of sense to do that.

This discussion reminds me of the Tax talk involved in PIPS. We never did get to that point that we had to worry about it.

I think I will put Loops on ignore, don't need the frustration. Mike and Adam are doing a wonderful job with the information they are getting, and I would rather spend my time listening to what Mike is actually hearing from those up close and personal than to someone who needs to experience investing a little longer than 1.5 years. Some of us have been in the trenches a long time.

IMHO

[QUOTE=neno]

Originally Posted by SoFla

Look a Newbie and welcome to rolclub SoFla. This is so simple and thank you for showing others that a Newbie can read and understand what this thread has been putting out about the equal of the Dinar To the Dollar is coming. Thanks SoFla.

Thanks Neno... I've actually been around to about 7 different forums over the past year. I went LTCG (Long Term Capitol Gain) on Tuesday. I still frequent all of the other forums to get whatever information I can. I mostly lurk and don't post much. Great things are happening in the Iraqi financial world. For an individual to state that a value such as 1 Dinar to the US Dollar would break that country, it tells me more reading and studying is required. A country wouldn't make such a blunder for the sake of speculators. This is part of a "Master plan" that has taken years to come about. Everyone should know by now that we didn't actually go to Iraq for the WMD's... It's all about OIL and MONEY... We (speculators) are just a very small piece ot the whole picture. I digress....

Thanks <SoFla>

I haven't posted on ROL for a long time. None of you know me. I am not promoting Free Dinar, but if you go over there and listen to the taped calls by Dr. Quodar (sp?), an economist from Iraq, you will hear his explanation of what zero lopping is. It is not , from what I can tell, what everyone is so afraid of. It is lopping zeros off the exchange rate, which is good.

So loops, why not go over there and listen to someone who has a phd in economics and resides in Iraq and actually knows many of the people being appointed to the new Iraqi govt. I believe this is as close to getting it from the horses mouth as it gets. Better than continuing to get it from the other end, eh?

Bill

I in fact did listen to that call, and it was what made me decide to buy another million !

Thank you for putting this back into perspective.