Redenomination - Let's Discuss What This Means!

[armondtoth]

This is about the poorest translation of issuing lower denominated notes. A country simply can not waive it's debt by decreasing the value of bank notes. This has been proven to be fact not opinion. The united states did the very same thing and if you had a us 10k note today the value of the note is still 10k usd the bills have just been romoved from circulation not redenominated. Please consider the integrity of your sources and do not believe everything you read in a chatroom. You can find all these facts will a little research and phone calls.
Think about it what would happen to the countries wealth if this were the case everyone would have to start over.

The U.S has Never re-denominated our currency they make it worth less by printing more. Iraq said they will re-denominate many countries have done this before. Please give yourself a history lesson.

[kaperoni]

They will never devalue the notes. They simply will remove them from circulation over time as stated. And any talk of moving the decimial .00086 to .86 is incorrect as they state remove 3 zeros from "banknotes" not the rate. Steve said it all...just believe!

[shark]

Great post and probably spot on. I agree just keep it real because it is tough to wade through all the hype and pumping. And thanks Studdage to leading me here.

[hopefultxn]

They will never devalue the notes. They simply will remove them from circulation over time as stated. And any talk of moving the decimial .00086 to .86 is incorrect as they state remove 3 zeros from "banknotes" not the rate. Steve said it all...just believe!

As I have mentioned before, it would not have to be an issue of devaluing the 000 notes. They can simply introduce a new edition of the dinar with a set exchange for dinar to dinar. That exchange does not have to be 1:1. It does not make sense that the currency speculation that we are involved in will make us all a windfall - a small return or possibly two to three times our original investment is more likely than everyone that has 25k notes suddenly having those be worth 25k USD in an exchange - would be absolutely fantastic - but economically it makes no sense whatsoever.

I know someone will bring up how much oil Iraq has sitting under it. Take a look at the country that tops the list of both oil reserves and oil production - Saudi Arabia. Their currency the last I looked was worth about 26 cents to the dollar - then you have Kuwait and other countries that have lower outputs than the Saudi's yet have a higher currency value - this proves one simple fact, and that is oil is not the end all be all of what currency is being valued upon.

Lastly, Steve does not have the best track record for accuracy in anything that he has stated in this venture that I have seen. Just because you put things into an ebook or state them in a chat room does not mean that it is the 'gospel' of whatever the subject matter is.

[fat]

This is a post from DD...what does it mean? All,
I just felt I needed to say tonight… Hang in there! I feel there are so many who need this so badly, that it’s difficult sometimes. I’m right there with you. I too am confused by the timing of this, but I want you to know I’m not confused about the eventual end result. Stay strong, and focus on those things that will help you in your own life that you can control now.
The rest, leave in the hands of your Heavenly Father, “the universe”, Allah, or whomever/however you worship or otherwise see the world in which we live.

[fat]

Had a good chat today and may have come up with something...remember this.. “’The current (E changed this to new) exchange rate is reasonable and stable and can be defended by our vast foreign reserves, totaling $43 billion U.S. dollars at the moment,’ Shabibi explained.”

With a LOP or RD...they don't need reserves. They would make out huge right! So a RV only is possible by this statement! GO RV...******