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

Originally Posted by whatever

...Meanwhile, Loops is doing his "keegle" exercises...

Oh man...that is too much!!! lol

Originally Posted by ourhouse37

Who is this guy? He looks like the dad on "Frasier." (yes, I am an amurican...)

A young pic of FDR I think...

Originally Posted by Offshore-Wealth.com

Help.............

Anyone here know the way to get ahold of Bruce for dinar. I never used him, so I don't want to refer anyone personally, but a few references would be nice for someone who asked me via PM and I didn't have info.

Thanks, Mike

Here's the link. I've had very good, very fast service, and they take paypal for smaller orders, discounts for wire transfers and certified checks.
http://www.iraqidinars.com

Originally Posted by Adster

Hi guys, got little time, so quick post. Really good news this, have a read. Read the title, it's a killer! Also knocks out the lopping of zeros possibility that some worried about!

Be back later in the week.

Adster.


http://translate.google.com/translat...language_tools

Banking and business circles show great interest in the proposal dinar equal dollar
Source : Newspaper Conference - 29 / 06 / 2006
Finance Minister announced a statement of Iraqi boat, "that the ministry and the Central Bank of studying a proposal to raise the value of the Iraqi dinar. and the return to normal ".

The statement dominated the concerns of the minister and commercial banking community, as well as citizens, Fearing exposure to the Iraqi market due to the pressure of the implications of such a procedure could lead to some sort of instability in the terms of trade, In calculating the value of the dinar exchange rate of foreign currencies, especially the dollar. The managing director of the Credit Bank of Iraq Fuad Al-Hosani statement by the Minister of Finance b "very important". However dinar equal dollar, "he said, pointing out that it is pleasant Lnvos Iraqis, who aspire to the restoration of Iraqi currency. as it was before the 1990s of the last century and wondered if the national economy in its current state is able to move to the stage of the equality dinar dollar "? However, well-focused much of the statement of the minister on the boat to support the World Bank proposal, He said : "The study of the current state of affairs makes it have to satisfy to give a final opinion in this matter.

He said the managing director of the International Investment Bank Assyria Zuhair Al-Hafiz. "The proposal of the Minister Al needs to pause and carefully consider the repercussions of the security conditions on the Iraqi economy, which makes it unable to absorb any defects that might affect the business dealings in the absence of the proposed study carefully.

He wondered Alternate Director Basra International Bank for Investment Badi intellectual : "Is that a reduction of Iraq's international debt and increased liquidity resulting from higher oil prices, enough to take such a decision "? He added, "is important in this connection to take into account the study as a result of the decision dinar equal dollar repercussions on the local commercial transactions, and how to avoid any disruption to the transfers of traders and banks.

bumppppppppppppppppppppppppp

Copied this from another forum...really makes sense...

**************************************
Why There Won't Be A Zero Lop After reading the news release stating that the dinar will undergo a currency change, I've come to the conclusion that what the reporter misunderstood the news we read a few days ago. The "1 new dinar will be worth 1000 old" merely reflects the three-decimal place movement in the exchange rate, from .00068 to .68.

The next statement he said is that it would bring it closer to parity with the US Dollar. Well, that's exactly what happened here. And as for the new currency waiting to be printed, how can you eliminate the possibility that he's referring to smaller denomination notes, as they plan on removing the larger bills from circulation?

Obviously if Iraq was going to revalue their currency, they wouldn't publicize it until after it happened otherwise there would be a run on speculation. Can you imagine reading this in a newspaper: "On Wed, August 5th Iraq will increase its currency to .50. A 25,000 note will be worth $12,500 on August 5th." I assure you that you'll never read that anywhere,

This seems like it is some major news. I'd certainly expect it to be in all the other major news sources. MSNBC doesn't tend to always report on current events. It's far more likely they were just informed of the Prime Minister's week old anouncement and are just now crafting a story based on how they interpreted it.

Originally Posted by DLMCFX

Iraqi Diner equality to dollar, Zubaidi suggests
27/06/2006
Source: Al-Sabah

Finance ministry & Iraqi central bank study a suggestion about lifting off the worth of Iraqi diner and returning back as the past.

And the suggestion supported by the international bank. Finance minister Bayan Jabr Zubaidi declared that he suggested on bank governor lifting off three zeros so diner would be equal to dollar. on the other hand, he declared his support for national peace initiative.


http://www.iraqdirectory.com/DisplayNews.aspx?id=1583

Baghdad-Yasser acting Secretary-haven
Finance is operating tens of thousands of unemployed and delivery Retirement Law
The Ministry of Finance and the Central Bank a proposal to lift the value of the Iraqi dinar Iraqi returning to normal, and is this proposal and supported the World Bank. This announcement l (morning), Finance Minister Jabr Al statement said : We have suggested to the Governor of the Central Bank raising three zeroes on the Iraqi dinar and the lifting so that the value of the dinar was equal to the dollar

http://www.google.com/translate?u=ht...&hl=en&ie=UTF8

bumppppppppppppppppppppp

I think it is time to bring this before the forum again. It was from FreeDinar, which most on this forum do not reccomend for buying any dinar from... but none the less are an interesting source of information as Dr. Qaddouri (below) claims to have a relative that is a high level official in the Trade Bank of Iraq, someone who is involved in the discussions on how the CBI, World Bank and others are going to handle the Revalue. Also stated before, none of the various options for bringing the value of the dinar UP TO the value of the USD have anything to do with replacing the existing currency with a whole "newer" currency. If they took a new/existing 25,000 dinar and said you will have to exchange it for a "newer" 25 dinar note and then revalued the "newer" 25 dinar note saying, "This is now worth $25 USD"... that would be the equivalent of bringing DOWN the value of the USD to the level of the dinar. Not going to happen- we all (well, most of us) read the numerous news releases stating otherwise. Anyway, feel free to read/reread the following...
Blessings On YOU! AL

There has been some confusion regarding “zero lopping”. Even though this topic was explained by Dr. Qaddouri and Dan Fadden, it’s still a difficult concept that we will try to explain here.

If you go to the Central Bank of Iraq’s website (http://www.cbiraq.org/cbs6.htm) you will see that the official (bank to bank) exchange rate of the Dinar is 1476. This means that for every US dollar you get 1,476 Iraqi Dinars.

If you look at it in an Iraqi’s eyes they convert it the other way. In other words they convert it to how much one Dinar is worth is US dollars. In this case it’s worth .0006775 USD (United States Dollars).

We know that .01 USD is a penny, so .0006775 USD is much less.
Now this is where “zero lopping” comes into play. If you lop off one zero in the exchange rate of .0006775 USD to one Iraqi Dinar, then you get .006775. If you convert that to how many Dinars to the Dollar, it comes out to 148 Iraqi Dinars.

Now if we apply that to what 1 million Dinars would be worth, it comes out to $6,757 USD. A jump of 10 times, or 1000 percent.

If they “lopped” another zero off, your 1 million Dinars would now be worth $67,570.
Another would be $675,700 and so on.

So the “zero lopping” is not taking zeros off the actual currency, but the exchange rate. This is what was done in Afghanistan on January 3rd of 2003.
Also, for those people that you may contact that still think that they would just lop off zeros from the actual currency, just remember that not only does a 25,000 Dinar note have the actual figure of “25,000” imprinted on it, but it also says “Twenty Five Thousand Dinars”. I would think that this fact alone would counter any arguments to the contrary.

We hope that this clears any confusion that you might have regarding “zero lopping”.

Please pass this information on to all you contact regarding the Dinar, and let them know that this opportunity is coming to an end, so if they are “on the fence” regarding the Dinar they need to jump to one side or the other.

Thank you,
Ompus / FreeDinar
Admin Team

Originally Posted by DLMCFX

Iraqi Diner equality to dollar, Zubaidi suggests
27/06/2006
Source: Al-Sabah

Finance ministry & Iraqi central bank study a suggestion about lifting off the worth of Iraqi diner and returning back as the past.

And the suggestion supported by the international bank. Finance minister Bayan Jabr Zubaidi declared that he suggested on bank governor lifting off three zeros so diner would be equal to dollar. on the other hand, he declared his support for national peace initiative.


http://www.iraqdirectory.com/DisplayNews.aspx?id=1583

Baghdad-Yasser acting Secretary-haven
Finance is operating tens of thousands of unemployed and delivery Retirement Law
The Ministry of Finance and the Central Bank a proposal to lift the value of the Iraqi dinar Iraqi returning to normal, and is this proposal and supported the World Bank. This announcement l (morning), Finance Minister Jabr Al statement said : We have suggested to the Governor of the Central Bank raising three zeroes on the Iraqi dinar and the lifting so that the value of the dinar was equal to the dollar

http://www.google.com/translate?u=ht...&hl=en&ie=UTF8

bumpppppppppppppppppppp

Update............

Well, as many of us have been saying about news, it appears we are not alone, it was a simple fact that translations are a problem for MSNBC as it was for Loops. (g)

I had been hearing news in English for months and in not one conversation was there a mention of a lopping of zeros, not once. This has also been confirmed by other trusted sources in Iraq, just as it is again being clarified on the Free-Dinar call as I post this.

Not to worry, there is no lopping being discussed today, yesterday or last month, it is not an issue. We are still on track for revalue, but now it appears we are going to see it at .67, not .30 to .40 which was what I was told since January. I am not upset to see this new figure for obvious reasons. (g)

Here is what has been going on for those who missed my earlier updates and answers to concerns. What we have been seeing is nothing more than a little market testing of different values thrown about to see what the world reaction would be. We are not seeing any resistance or fear of revalue of up to 3.22, so when they mentioned from .67 to .68 to a dollar, many countries didn't blink over it, so I do believe we will see a higher revalue than initially released, and yes, this was decided upon months ago, so this is all good news.

As Free-Dinar is also saying, it looks positive for this month, and Dr. Q is flying in to AZ office at this very moment, so we should all relax as the good Dr. confirms all that was stated above and in previous posts, so don't worry, there is no lopping or looping going on now or in the future.

Good luck to all, Mike

Thanks Mike, I knew we were right from the start. Now LET IT PEG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!