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The more I read....

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The more I read....

Post  bigdaddytim on Tue Dec 31, 2013 9:45 am

The more I read, the more that I think we are spitting in a box fan.  I know a lot of folks are not gonna like this, and some will simply call me "negative".  But, article after article refer to "deleting the zeroes", "erasing the zeroes", and "raising the zeroes".  If you take a 25,000 IQD bill and remove the zeroes, it is a 25 dinar unit of currency.  That equates to $21.50 US or $860 per current million.  I know there are a lot of folks that refuse to acknowledge the remote possibility of this being the case.  All I know is that it is a possibility and likely a probability.  OK, just for a second, consider that this is correct.  Do you think that ANY and I mean ANY of the gurus will be able to hide from the couple million folks that they have "buffaloed" for the last ten years??  I think not.  The only redemption that they may have, IF I AM RIGHT (and I hope I am not) is that they give their hand to Jesus, because the rest of them is in a bind!
Ok.  I am now ready for my thrashing.

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Re: The more I read....

Post  Kevind53 on Tue Dec 31, 2013 10:44 am

No thrashing here ... I have always considered that a possibility, but not a probability. IMO worse case scenario, we make a modest profit as I think it will still RV to a higher value, very possibly in the $3.50 range. On the other hand, Kap could well be correct in how he interprets what they are actually saying, which case we make a ton. Who is right? In Kap's favor is the fact that he does have access to an interpreter who speaks fluent Arabic and English, not some mindless machine. Time will tell my friend, time will tell.

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Re: The more I read....

Post  Producer1 on Tue Dec 31, 2013 11:21 am

Well....I'm not a negative Nellie, but I think they will lop off the last 3 zeros like a frozen snot on a cold winter's day, and agree with Bigdaddy that the value will be slight. I don't even think it will be that good, as I believe that the Dinar people currently hold will become worthless paper when they demonetize the currency.  (My spell check put "demonize' rather than "demonetize"...maybe it knows something?)

Having said that...no one knows for sure. I'll take this op to wish everyone here a blessed New Year. If you wanna feel real good next year, pay for someones groceries....work at a soup kitchen...stop by Salvation Army and donate your time...do something for those in need.  You don't need a fortune to change your world! Happy New Year, all!

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Re: The more I read....

Post  bigdaddytim on Tue Dec 31, 2013 11:30 am

There is no doubt in my mind that IF the currency becomes worthless, there ain't a dinar dealer on the planet that will have enough lawyers to hide behind.  It will be pandemonium!!

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Re: The more I read....

Post  BritishBulldog on Tue Dec 31, 2013 1:00 pm

I don't understand the whole lop idea so pardon my ignorance....

So what I understand is that if they do a lop then they reduce the value of everything by 1000X?  So a 25,000 dinar note is now worth 25 dinar.  Is this just the notes or Does that mean that if they have a bank account with say 1,000,000 dinar it's now worth 1,000?? Wouldn't that cripple an economy unless the cost of all good and services were immediately reduced in the same way?
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Re: The more I read....

Post  Kevind53 on Tue Dec 31, 2013 1:12 pm

I would say that the cost of goods etc would have to be adjusted accordingly at the same time. Kap's contention is that when they talk of raising the zeros, they are speaking of removing the decimals in front of the decimal point. IF he is correct than a 25K note would still be worth 25K dinar, but the value of each dinar would be 1.166/YSD as opposed to .1166/USD now.

So who's right? Good question, I have a feeling we'll all find out the answer to that one at about the same time.

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Re: The more I read....

Post  bigdaddytim on Tue Dec 31, 2013 4:21 pm

Well, if you simply remove the zeroes, it works for all of the above.  A loaf of bread that is now 1163 dinar would be 1.16 dinar.  A month's rent average in Iraq is 500,000 dinar, then would be 350.  Average inexpensive meal would go from 550,000 to 5.50 and so on it goes.
Check my numbers:  http://www.numbeo.com/cost-of-living/city_result.jsp?country=Iraq&city=Baghdad&displayCurrency=IQD

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