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Enorrste - "No Lop" - Dinar Alert News Discussion 4/2/18
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Enorrste - "No Lop" - Dinar Alert News Discussion 4/2/18
Dinar Alert
Venezuela to delete three zeros from its currency and Iraq is still afraid of "circumvention"
Punisher: Are you guys really talking about a lop again this late in the game? Palm to face!
Mike: I don't believe Iraq is going to LOP johnbob, so that leads to the question, what does Venezuela have to do with anything? Iraq wants to do it because they want the citizens off the dollar and to reduce money supply while standardizing bank notes.
My question is related to this:
"The subject of deleting zeros from the currency is ready but needs an environment suitable for its application to prevent manipulation and fraud by the owners of vulnerable souls."
What, exactly, are the conditions to begin removing the zero's?
johnbob1: OK Mike I did not think that was the way you were leaning with as much time and thought you put into this investment Thanks for all the research you put into the dinar
Shengwah: I think Venezuela will lop. I don't think Iraq will lop. Lots of countries lop when their currency is in free fall like Venezuela. Iraq isn't in free fall.
They don't have hyperinflation. They just have a bunch of boneheads who don't want to give up the gravy train. And an infinate number of tribal alliances.
And thousands of years of feuds. Venezuela is simply one more populace seduced by the promises of Socialism. If Iraq starts kicking out foreign oil companies it's time to go.
Enorrste: Mike's question is well put: What, exactly are the conditions to begin removing the zeros? The answer to that question, not surprisingly, is really quite simple.
The one condition that is needed is the assurance that the value of the dinar will rise when they move to the international currency market and Article VIII.
The problem with discussing "remove the three zeros" is that it is seen as an event, such as in Venezuela, when in fact it is a process, as will be the case in Iraq.
The ONLY way that the three zeros will be eliminated in Iraq is through a gradual rise in the value of the currency (KAP and others have posted many articles stating just this fact).
It has been shown conclusively that the RV concept is not tenable because there is too much currency in circulation to effect an RV.
The ONLY way to get to our goal is to see the currency move to a float and then see a gradual removal of the large notes as the value of the currency rises. Therefore, "remove the three zeros" can only occur over time with the gradual rise in the value of the currency.
The fact that the most recent articles are stating that the only thing holding the implementation of the project is a "suitable environment" brings us closer to Mike's question. What is the "suitable environment?"
This phrase is a little more specific than Mike's question concerning a "condition" needed. A suitable environment could involve any of a number of factors. We know one of them: security. For well over a year this was what was holding up the implementation of the project.
More recently, however, it seems that the security issue is now either solved or secondary. A second issue might be the coming election. After all, if Abadi doesn't win re-election then the suitable environment will clearly not exist, right?
I personally don't see any other significant factor that would consitute a need for the creation of a suitable environment. A recent article stated that education efforts are once again being implemented to inform the people of what to expect.
This has occurred before, as we know, and seems somewhat minor to be a significant factor. There has been ample education and discussion on this matter.
Where economists used to argue entirely against the project, that has waned and now the arguments are "how" to implement rather that "if" they should implement. So, in that sense, the environment educationally is already suitable.
Therefore I am left with the conclusion that the election is the key. It is a significant factor and could throw a real wrench into the gears if it doesn't go down with Abadi on top.
On the other hand, with a victory, and especially a significant victory, the environment would be suitable for implementation of the plan. Consider it sort of like the Trump election: a lot of promises were made, but only implemented once the election was in his hands.
Venezuela to delete three zeros from its currency and Iraq is still afraid of "circumvention"
Punisher: Are you guys really talking about a lop again this late in the game? Palm to face!
Mike: I don't believe Iraq is going to LOP johnbob, so that leads to the question, what does Venezuela have to do with anything? Iraq wants to do it because they want the citizens off the dollar and to reduce money supply while standardizing bank notes.
My question is related to this:
"The subject of deleting zeros from the currency is ready but needs an environment suitable for its application to prevent manipulation and fraud by the owners of vulnerable souls."
What, exactly, are the conditions to begin removing the zero's?
johnbob1: OK Mike I did not think that was the way you were leaning with as much time and thought you put into this investment Thanks for all the research you put into the dinar
Shengwah: I think Venezuela will lop. I don't think Iraq will lop. Lots of countries lop when their currency is in free fall like Venezuela. Iraq isn't in free fall.
They don't have hyperinflation. They just have a bunch of boneheads who don't want to give up the gravy train. And an infinate number of tribal alliances.
And thousands of years of feuds. Venezuela is simply one more populace seduced by the promises of Socialism. If Iraq starts kicking out foreign oil companies it's time to go.
Enorrste: Mike's question is well put: What, exactly are the conditions to begin removing the zeros? The answer to that question, not surprisingly, is really quite simple.
The one condition that is needed is the assurance that the value of the dinar will rise when they move to the international currency market and Article VIII.
The problem with discussing "remove the three zeros" is that it is seen as an event, such as in Venezuela, when in fact it is a process, as will be the case in Iraq.
The ONLY way that the three zeros will be eliminated in Iraq is through a gradual rise in the value of the currency (KAP and others have posted many articles stating just this fact).
It has been shown conclusively that the RV concept is not tenable because there is too much currency in circulation to effect an RV.
The ONLY way to get to our goal is to see the currency move to a float and then see a gradual removal of the large notes as the value of the currency rises. Therefore, "remove the three zeros" can only occur over time with the gradual rise in the value of the currency.
The fact that the most recent articles are stating that the only thing holding the implementation of the project is a "suitable environment" brings us closer to Mike's question. What is the "suitable environment?"
This phrase is a little more specific than Mike's question concerning a "condition" needed. A suitable environment could involve any of a number of factors. We know one of them: security. For well over a year this was what was holding up the implementation of the project.
More recently, however, it seems that the security issue is now either solved or secondary. A second issue might be the coming election. After all, if Abadi doesn't win re-election then the suitable environment will clearly not exist, right?
I personally don't see any other significant factor that would consitute a need for the creation of a suitable environment. A recent article stated that education efforts are once again being implemented to inform the people of what to expect.
This has occurred before, as we know, and seems somewhat minor to be a significant factor. There has been ample education and discussion on this matter.
Where economists used to argue entirely against the project, that has waned and now the arguments are "how" to implement rather that "if" they should implement. So, in that sense, the environment educationally is already suitable.
Therefore I am left with the conclusion that the election is the key. It is a significant factor and could throw a real wrench into the gears if it doesn't go down with Abadi on top.
On the other hand, with a victory, and especially a significant victory, the environment would be suitable for implementation of the plan. Consider it sort of like the Trump election: a lot of promises were made, but only implemented once the election was in his hands.
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Ssmith- GURU HUNTER
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Join date : 2012-04-10
Re: Enorrste - "No Lop" - Dinar Alert News Discussion 4/2/18
Really, one of the most ignorant economic and monetary assessments out there. Gradual rise of currency value is not a precursor or monetary requirement for a redenomination (LOP). Iraq has a massive inflation issue, and has borrowed to the hilt - that's why the budget being passed is DOA, it will not change the course of their debt commitments nor their currency value. Enorreste is, really, not educated on these matters at all. Just research RDs, historically, and show me where monetary policy dictated a LOP after a gradual rise in nominal value of a currency...LOL...
ReapAndSow73- GURU HUNTER
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Re: Enorrste - "No Lop" - Dinar Alert News Discussion 4/2/18
Venezuela is getting ready to delete three zeros because they are in the throes of hyperinflation. From XE.Com, one of the better currency investor sites:
On May 2017, the government of Venezuela changed their multi-tier Venezuelan official exchange rate system, as announced by the government on March 2016.
"Essential" goods are exchanged at a fixed mid-market rate of 9.9875 VEF/USD. This rate is called the “DIPRO”. The Venezuelan government decides what "essential" goods qualify for this rate. They include imports for sectors related to food and medicine but also some oil sector companies.
Imports designated by the government as "non-essential" are subjected to a new system called “DICOM”, where the rate is intended to vary over time. On November 7th, 2017, the mid-market rate of the DICOM system was 3,340.819 VEF/USD. DICOM rates are published by the Venezuelan central bank under TIPO DE CAMBIO here: http://www.bcv.org.ve/ or here: https://www.dicom.gob.ve/
Due to the high rate of inflation in Venezuela over the last few years, there is a high demand in the market for US Dollars (USD). However, official access to US Dollars in Venezuela is limited, which has resulted in a third (unofficial) black market exchange rate valued at around 40,000 VEF/USD (November 2017). The black-market rate has increased rapidly over the last year (January 2016: 833, June 2016: 997, January 2017: 3164, June 2017: 6112).
http://www.xe.com/currency/vef-venezuelan-bol%C3%ADvar#additionalinfo
Venezuelan Bolívar History
On May 2017, the government of Venezuela changed their multi-tier Venezuelan official exchange rate system, as announced by the government on March 2016.
"Essential" goods are exchanged at a fixed mid-market rate of 9.9875 VEF/USD. This rate is called the “DIPRO”. The Venezuelan government decides what "essential" goods qualify for this rate. They include imports for sectors related to food and medicine but also some oil sector companies.
Imports designated by the government as "non-essential" are subjected to a new system called “DICOM”, where the rate is intended to vary over time. On November 7th, 2017, the mid-market rate of the DICOM system was 3,340.819 VEF/USD. DICOM rates are published by the Venezuelan central bank under TIPO DE CAMBIO here: http://www.bcv.org.ve/ or here: https://www.dicom.gob.ve/
Due to the high rate of inflation in Venezuela over the last few years, there is a high demand in the market for US Dollars (USD). However, official access to US Dollars in Venezuela is limited, which has resulted in a third (unofficial) black market exchange rate valued at around 40,000 VEF/USD (November 2017). The black-market rate has increased rapidly over the last year (January 2016: 833, June 2016: 997, January 2017: 3164, June 2017: 6112).
http://www.xe.com/currency/vef-venezuelan-bol%C3%ADvar#additionalinfo
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