What is the Dinar going to be worth?

Good day, eh :

The term LOP is often used out of Context, for example:

IF you lop 3 zeroes off of 1000 Dinars it becomes 1 Dinar.

IF you LOP 3 zeroes off of the beginning, e.g.: .001 Dinar
becomes 1 Dinar.

That is the only term LOP that fits the Context.

Most people are predicting the former, but some ( yes there
are quite a few ) who believe what is going to happen is
the latter. In incidence 1 you don't make money by holding
Dinars, e.g. if the Dinar is at rate .001 ( 1/10 cent ) you
won't make any money.

However, if they LOP, then you Paid .001usd per Dinar which
becomes $1 usd.

"Lop" is slang for "redenomination".  No matter how you say it or describe it, a redenomination is a revenue neutral event.  There have been 70 redenominations since 1950 none of them made anybody rich.  If and when Iraq redenominates, the $1 (actually it would be more like 86 cents) valuation would apply to the currency that replaces the IQD (the current dinar series) rather than the IQD itself.

Yes, you can lop the currency, e.g.: 25000 Dinars becomes 25 Dinars. Or you can LOP the Rate, e.g.: .001 becomes 1.

Huge difference. Iraq says they won't lop zeroes off the end,
but, will LOP the Rate.

Time will tell.

Can you show us one example of a country that lopped zeros off the rate of their currency and experienced a 1000% (lopping one zero), 10,000% (lopping two zeros), 100,000% (lopping three zeros) ... etc. increase on the same currency series via revaluation?

Algeria, Kuwait,...no not the same, but the same type of outcome.

Mute point you made, history always starts someplace. Pretty much need to go by what the Iraq Government says, it's their currency.

As I have said...we will see. But..this ain't a one sided argument.

You're right, Kuwait wasn't the same.  They didn't revalue.  They redenominated twice without removing any zeros.  I have no idea what you're referring to with Algeria, but their currency has been losing ground against the dollar fairly consistently for twenty years except for the aftermath of the 2008 meltdown. 

The Iraqi government isn't talking about revaluation.  They're talking about a redenomination.  Not only have they described the process of redenomination, Shabibi used the word "redenomination" when he was talking about the currency reform plan when he was in DC in 2011.  This was confirmed by the Department of Justice when they charged Brad Huebner with dinar fraud in 2012, partly because he misrepresented Iraq's currency reform plan. 

So in effect this is a one sided argument.  History, Shabibi, and the DOJ are all on the side of a revenue neutral  redenomination, and there is no history, no Iraqi official, and no American government agency on the side of an unprecedented millionaire creating revaluation.

I'm trying to type, and laugh at the same time.

When anyone looks at the dinar, picture George Whipple squeezing a roll of 'Charmin' { Remember the 1970's television commercial for Charmin 'crapwrap'?}-At least when you wipe, it won't hurt as bad as buying dinar, and it also keeps Clingons from around Uranus.....

I think the Dinar is going to revalue at around $1.20 US...............don't forget the Kuwaiti Dinar went up by a factor of 66 in the span of one day.............

Okay, Nash. Time for your Kuwaiti dinar chart thingy.

Ventura66 wrote:I think the Dinar is going to revalue at around $1.20 US...............don't forget the Kuwaiti Dinar went up by a factor of 66 in the span of one day.............

Reinstatement = no value spike for currency holders.  IQD cannot mathematically go up in value without USD counter-balance, and USD ain't tanking in light of new oil channels.  IQD is massively overprinted.  Sorry to disappoint.

So Reap And Sow73, and Sam I Am..............the two of you seem a bit down on all this Dinar revaluation...........

If I am not being too nosy...........do both of you hold any Dinar ??..........or do you both feel like this is a scam ?...........and own no Dinar ?...........just trying to get a sense of your take on all this.........and thanks in advance by the way.............

I do not own speculative currency, it's an extremely poor investment choice in light of the fact that there has never ever been an overnight value spike of any currency under Bretton Woods.  Weimar, no.  Japan, no.  China, no. Kuwait, no.  There have been more than 2 dozen redenominations, which is how Iraq will address their hyperinflation issue from overprinting.  CBI is extremely limited in how to handle their money problems.

More importantly, it's a goofy notion that a, 'guru' would have any foresight or inside sources on events that cannot mathematically happen.  Economics prevent the idea of an RV.  Gurus, for the most part, all come from MLM backgrounds, and many of them have a history of legal trouble.  Furthermore, I can't recall one single instance where a guru pronounced some event that was to take place, and it actually happened.  They speak with authority but are wrong 100% of the time.  They have no experience investing, or with basic economics.  When they can't explain something as basic as M1 money mechanics, but insist on a massive, unprecedented global monetary event...and claim they have secret sources...well, buyer beware.  It's absolutely a scam - not the actual currency, the idea that overnight gazillionaires will be created by a 35000% value spike of IQD.

ReapAndSow73..............Thank you for your input...........it does seem a bit odd though........that you would spend so much time on here, not owning any speculative currency...........well thanks again for your two cents !!!!!!!!!!!!!

the dinar is worth a tenth of a penny and that's about what it will be. tell me this if  Iraq was so poor why is the gov not doing  somrthiing to improve itself? they are asking every country to invest in Iraq either  loans or building intrastructure. would you  as a busisness person invest in Iraq now? remember no laws passed to protect foreign busisnes   the security to protect is fair the kick backs to do anything is great the value of the currency is toilet paper the goi stealing money is great and the country will not help themselves and you fools actualy believe the dinar is going to rise greatly?

Just buy some Charmin, and you'll be better off, at least that is something you can always use!  The dinar runs a close second.....

Terbo56 wrote:Just buy some Charmin, and you'll be better off, at least that is something you can always use!  The dinar runs a close second.....

NO!!!!  DO NOT make a Charmin run if you are in WSOMN Chat!!!!  You run the risk of being BANNED!!!!  Look what happened to Ted....



 

TED1016 wrote 1m ago

Sorry that WSOMN's Admin Bill has to weed the garden If I am deleted, I want to tell you all how much I have been proud to have been a member of this group.

 

TED1016 wrote 2m ago

Gotta run folks, we have a real emergency here and I need to go to the store. (Ran out of TP) BBL

Oh, shit..... Ssmith you are 100% correct, I hadn't thought about that- I hope Ted 1016 makes it...Reminds me of the book, '100 yard dash to the Outhouse', by 'Willy Make It', and illustrated  by 'Betty Won't'-

:winky winky:  Thank you, Ponee, I like that!!