Cancelling three zeros from currency soon, MP [DIFFERENT SOURCE]

ok bring it! we have been seeing the deltion of the 000 for sometime. they got as much of the big bills off the streets as they can, lets see the LD 's!!! SOON!

Still don't really understand why they would announce removing the zeros, new currency and stuff ahead of time if they plan to do it soon. Seems that's just an invitation for people to hoard the 000 notes. Sure, they've been saying it for years, but they weren't even close to being ready to do it.......all the political crap and laws that needed to be in place. There will always be political crap, like here at home.....but for the most part, they are making progress politically. The laws needed to move forward with the deletion of zeros have either been done or are on the verge of being done. It's painfully obvious they are soooooo ready for this......so why would they announce it? Seems silly to me.

Unless I'm not seeing something.


It is good news, thank you for posting it playa, just curious what others think is all.

Again, great to see this in the news.

It says here that the Central Bank will COMMENCE cancelling the three zeros. So they are starting the "preparations" to get this done:
"it is supposed that this year will witness necessary preparations to cancel three zeros from the currency"

So, let's chew on this..........in order to remove the three zero notes, the exchange rate will need to be on par or stronger than the dollar. I would even agree that the rate needs to be at least as strong as the purchasing power of the dollar. So, that being the case, this really gives us a better idea of a timeline. The removal of the zeros simply will not happen in circulation unless the dinar is at least close to the value of the dollar. If it isn't the supply of the dinar will be in trouble because, transactionally, the quantity of dinar needed to accomplish anything will be much more than if it were closer to the dollar.

To see this news, and supported by multiple articles, is AWESOME!!

this is great stuff now !!! when they mean lift or remove zero`s ---> also could mean , --> take the zero notes out of circulation, print the lower notes with out the zero`s, but shredd has a good point it would most certianly need to be at the 1 too 1 ratio , even better ----> 2 to 1 just cause it looks better in the bank accounts r.\/ bayyyyy beeeeee

what was it bond lady had said do not pay attention to the news unless --- we see it 3 different articles thanks bond gal

Shredd do you think this will be a RV at or around $1
Or a free float at the program me rate over time up to the dollar

BUMP

Mcduff82 wrote:Shredd do you think this will be a RV at or around $1
Or a free float at the program me rate over time up to the dollar

IMO, I can see how it could work either way. Honestly Id rather see it just come out at a good rate amd be done with it all. Floating and letting the market drive it up makes allot of logical sense to me though. Personally, I feel like it'll float, they may come out around a buck and let the market push it to where it goes.

There's been a few places this has been discussed and a couple people have given examples of the good and bad of either senerio. I believe Scooter went into good detail on this a few times. I seem to remember that a free float would be slower, less shock to the people of Iraq as well as their economy and actually help to build a stronger economy. I know this was aimed at Shredd, I will let him confirm but I think he's leaning towards a free float.


I may be wrong but it seems the longer they wait to actually start letting the market push the value up, the faster it'll go up. All the investment activity, companies waiting to move in for business, oil deals, mining for minerals, homes and buildings being built....basically Iraq moving into the 20th century....once it starts it's gonna be a snowball effect I believe. Waiting sucks.....but I feel like the longer we wait, the faster the value will grow once it starts.

That's just my 2 pennies worth if it helps any.

Thank you Reflection for reply

Reflection! You think they will start the float at $1 and go up from there
The program me rate of 1166 would take a long time to get to a dollar
You probably guessed I am fairly new to this
Thanks again

The last word we got from the CBI spoke of moving to 1000 to 1. Other articles have implied a float. A blended approach makes the most sense to me. A big ol fat RV isn't supported in anything I've read.

Mcduff82 wrote:Reflection! You think they will start the float at $1 and go up from there
The program me rate of 1166 would take a long time to get to a dollar
You probably guessed I am fairly new to this
Thanks again

I'm far from an economist/banker or anything like that. I'm just an average joe (machinist/welder/bricklayer/carpenter) that's been in this a few years. Luckily I've had the pleasure of having people on this site such as Bondlady, Shredd, Miss Timmy, Playa, Mr. Lightning britches, Scooter and a few others to help me learn along the way. If you are looking for facts and knowledge about this investment, you are in the right spot.

This is only my opinion. They want to de-dollarize and have the Iraqi citizens use the dinar right? Well, the only way to do that is make the dinar worth the same or more than the dollar. I would think they would start at a dollar, that's just my opinion though. Hard to say what they'll do....They could do it several different ways. Nobody really knows what they'll do, all we can do is speculate at this point. BUT, the news seems to get better and better by the day. Best thing to do is just read and ask questions, stay grounded and don't get your hopes up that it's gonna happen next week. We are in a very good spot though, stay possitive.

If you can, read some of the chats posted on here. There's some REALLY good breakdowns that really help understand things better. The mods and admins of this site are really great people, have a ton of factual knowledge, are very helpful and happy to answer questions.

Yes I know this is a great site
Love reading Bondlady Tim Shredd and all
Never did much investing been a hospice nurse for years and a patients mom encouraged me to buy some dinars 2 years ago
Been read Bondlady from the beginning and then found her site

Thank you Shredd

IMO , these articles have been put out for years for a reason..... they keep telling you SOON , or IN COMING DAYS ... its kinda like crying wolf they tell you so many time you get to where you think ... Yeah right. So they could literally tell us they would RV\ delete the zeros and raise the value Monday ..... and everyone of us would be like .... suuure !