IQD CALLS Chat Early Monday 9-23-19

IQD CALLS Chat Early Monday 9-23-19

Larrykn   Good Morning everyone

larrykn   Al-Halbousi stresses keeping Iraq away from war https://www.thebaghdadpost.com/en/Story/43946/Al-Halbousi-stresses-keeping-Iraq-away-from-war

larrykn   Iraqi President, Pompeo meet on sidelines of UNGA 74 https://www.thebaghdadpost.com/en/Story/43945/Iraqi-President-Pompeo-meet-on-sidelines-of-UNGA-74

larrykn   After Month-Long Standoff…Iran Releases British-Flagged Oil Tanker https://www.thebaghdadpost.com/en/Story/43947/After-Month-Long-Standoff-Iran-Releases-British-Flagged-Oil-Tanker

larrykn   Iraqi gov’t closes 4 camps for IDPs in Nineveh https://www.thebaghdadpost.com/en/Story/43943/Iraqi-gov-t-closes-4-camps-for-IDPs-in-Nineveh

larrykn   Iraq, Jordan, Egypt hold tripartite summit in New York https://www.thebaghdadpost.com/en/Story/43940/Iraq-Jordan-Egypt-hold-tripartite-summit-in-New-York

Doug_W   Silver:$18.49

Chattels   There would seem to be little doubt as to the meaning of " delete the zeroes " if the old article posted by Larrykn is to be believed, eh ?

chattels   " In the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note."

chattels   https://www.rferl.org/a/iraq_said_planning_currency_overhaul_redenomination/24245867.html

chattels   I read where sandyf got maligned again for posting. Sad.

spankie   lopster

chattels   I have no great wisdom at my disposal, but I have experienced and come to believe that there is a great difference between what one knows and what one thinks that they know. We would all do well to allow for the possibility that we are wrong and someone else is right.

futuremoney   chattels that definition speaks of a Lop to me...

chattels   Thus far in this venture no one has been proven right.

chattels   futuremoney Unless one is going to change the meaning of the words.

futuremoney   pretty straight forward

chattels   sandyf takes issue with the use of the word " lop ", but my sense is that the practical economic effect of a redenomination is a " lop ".

futuremoney   that's ben my concern for about a year now...come out with the 25 notes...then give 25000 note holders a certain time frame to redeem their note for the previous amount ...or oose it

futuremoney   3 zeros in general...

futuremoney   they did that when they got rid of the 50 note...

chattels   futuremoney I think that we have to allow for that possibility. Now, whether other things can be done to increase the value of the dinar contemporaneously remain to be seen. Will or can we benefit ? I hope so.

futuremoney   I believe our investment has been a misguided journey

JoeSchmoe   futuremoney are you thinking it's going to lop now too?

chattels   futuremoney A distinct possibility.

futuremoney   don't know

foxmulder   The exchange rate ! Is the main objective for me... drop the zeros whatever.

spankie   time to sell--

JoeSchmoe   I just know that when I first got into this thing 10 + years ago, I remember that one currency site....what was it?....it always said/warned that Iraq was planning an RD.

JoeSchmoe   xe.com

foxmulder   Saleh noted that until 1980 the Iraqi dinar exchange rate was 1 dinar/$3.3 compared to $1/1,168 dinars now due to hyperinflation that occurred during the latter part of the late ousted leader Saddam Hussein's reign.   Newest

futuremoney   JoeSchmoe it used to be in red on the XE currency site

JoeSchmoe   yep

JoeSchmoe   I always figured an RD was what we wanted....new notes

JoeSchmoe   isn't the ld's basically an rd?

futuremoney   look up what google says about RD...aint pretty

JoeSchmoe   yea i know

JoeSchmoe   but could it also be a translational thing too, like much we read from over there?

futuremoney   we might have to trade our 3 zeros for the new notes , then hope the rate goes up

chattels   Head of Iraqi Integrity Commission says he is resigning due to political pressure & the role of all political blocs in continuing to spread corrupt in all areas.

http://mobp.as/dYwQp

futuremoney   if it comes to that,, I will be done

JoeSchmoe   by what we think we know about a LOP, hyperinflation is not an issue...or so we think. So what other reasons do countries LOP?

JoeSchmoe   I mean, would they LOP just because of the amount of notes reported in circulation?

JoeSchmoe   just get this thing over with finally

futuremoney   I heard they would do it just for the book keeping aspect ...getting rid of having to deal with trillion versus billions

JoeSchmoe   well in any case, no one can say they didn't warn us

futuremoney   yep

JoeSchmoe   by record, I was warned 10 years ago

futuremoney   same here but I refused...lol

JoeSchmoe   yep

JoeSchmoe   me too

Doug_W   bottom line is : as always we wait to see

JoeSchmoe   that above article which speaks of this rd, when was it dated

chattels   JoeSchmoe 2011

JoeSchmoe   chattels so there has been nothing more recently, say the past 5 years, that speaks of this?

JoeSchmoe   2011 sounds about the right time frame for when I saw it on xe.com. I've held for 10+ years, but didn't find forums til 2010

chattels   JoeSchmoe Yes, lots or " deleting the zeroes " articles, but that 2011 article is the clearest definition of what " deleting the zeroes " means, IMO.

JoeSchmoe   yea, I know we've heard of dtz A LOT lately.

spankie   wonder if they put this out for propaganda - get peeps to sell or not buy--

JoeSchmoe   back then, were they describing an RD as dtz?

JoeSchmoe   spankie that could be gurubish too

chattels   JoeSchmoe You may recall the debates over ".00086 " and removing the zeroes from the front, etc.

JoeSchmoe   and was hyperinflation a concern back then too?

JoeSchmoe   chattels who wouldn't take that and run though

chattels   JoeSchmoe Inflation has been modest in Iraq since the advent of the new Iraqi dinar.

spankie   chattels seems more likely for iraq to get ahead-

JoeSchmoe   chattels I'm just curious as to if they started talking about an RD/LOP because they might be concerned about hyperinflation possibly

JoeSchmoe   way back then

chattels   JoeSchmoe I have not been able to comprehend it myself.

Doug_W   chattels JoeSchmoe welcome to MY world

JoeSchmoe   chattels which leads me to question any other possible reasons to rd/lop?

JoeSchmoe   maybe if the whole world wasn't involved in this, lol, it would happen>?

JoeSchmoe   or so it seams at times

JoeSchmoe   seems

chattels   JoeSchmoe There are, but arguably none apply to circumstances in Iraq. See https://www.investopedia.com/terms/r/redenomination.asp

JoeSchmoe   Doug_W your wolrld, and many others

JoeSchmoe   chattels the first two reasons in that first paragraph do not apply, thats for sure

JoeSchmoe   well....devaluation from decades ago maybe

chattels   I have been told that Iraq's currency will add value, but one would be have a greater appreciation in the stock market over the same period of time.

spankie   2% a month

JoeSchmoe   This kinda scares me, because of what people say about both notes coinciding for 10 years---After redenomination, old notes may still circulate for a time, but are usually exchanged for the new redenominated currency.

chattels   It has been now almost ten years for me.

chattels   What would my money be worth in stocks ?

JoeSchmoe   this is all beginning to depress me. im outa here

Doug_W   30% more at least "C"

spankie   still everything unknown- guessing

chattels   I have earned the nickname " wet blanket " over time from many.

Zig   Many of us just jumped into this for the wrong reason(s)......we were told by a friend (acquaintance) to hurry up and get in or we would miss out getting filthy rich "overnight".....we did not investigate it before taking the plunge.....and after getting in we listened to the wrong people for a while.....thinking we would be millionaires every week....thinking they were going to RV to $3 overnight.....

chattels   I posted earlier about the Integrity Commission and there is is this " related " article. HOW IRAQ’S PARLIAMENTARIANS CONTRIBUTE TO CORRUPTION

Posted by Iraqi Thoughts | Sep 23, 2019 https://1001iraqithoughts.com/2019/09/23/how-iraqs-parliamentarians-contribute-to-corruption/

Chattels   " In order to tackle corruption in Iraq, soft corruption and informal networks need to be addressed, because they enable the suitable environment for ‘hard corruption.’ This is a difficult task because it is related to a culture that sees in ‘wasta’ an important approach to get things done.

It is very challenging to achieve progress against corruption in such a culture, yet it is not impossible. Decision makers need to inform themselves how nations were able to achieve progress instead of just giving anti-corruption empty lip-service."

chattels   Lots of " lip - service " in Iraq.

chattels   As I am fond of saying, it is the difference between rhetoric and reality.

Doug_W   can be FAR apart "C"

23 Sep 19, 09:05 AM chattels   Work and the privilege of service to my fellow man is calling. Have a fine day all.

Doug_W   Silver:$18.59

Doug_W   Silver:$18.700 that is PLUS .64

Andrewetoldthem   the meeting with united nations started today and finish on the 30th today its about climate change the youth and freedom of religion

Andrewetoldthem   tomorrow its about economic reform unity and global etc...... including iraq the president of iraq its already there and i think mahdi will arrive tomorrow and have a seperate conversation with trump campAIGN ON THE SIDE AFTER

Wilder   We pray for a great report

Doug_W   what did Andrew tell them?

Wilder   Doug_W to show you the money.

Doug_W   Silver:$18.72

Wilder   Silver predicted for $20.00 plus next month. We shall see.

Young_SC   9-23-2019 Newshound Guru Jeff ...Iraq just shifted gears on you...they have to have a permanent completed formed government without proxy positions...the Education Minister has to be voted in and then as of this morning the news is telling you that "temporary" does not mean "stability". They have to get rid of the temporary proxy positions during the month of October...basically they're telling you they have a drop dead date of October 24th...this throws a curve-ball into things...

 

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