Kaperoni weighs in on LOP and Dr. Bekri paper from cXc Forum emailed to us
Ok, I weigh in…lol
Over the years, there has been several Iraqi Economists, or Parliament or from the CBI directly that have confirmed the plan. The very plan that Dr. Shabibi and Dr. Fadel wrote in 2006. These comments over the past 5 years have never wavered from this original plan therefore I can say with certainty, the plan has not changed. Now what is this plan?
The plan is a re-denomination of sorts if you want to call it that. It is the transition from a larger set of currency notes (3 zeros) to a new set of smaller denominations such as a 1, 5, 10 dinar etc. This is the definition of sorts of a re-denomination. There is a twist though….This is not something that one article can explain, but several over the years assembled to create the clear picture. That being said, there are individual articles from these prominent people that support this theory. From Dr. Fadel himself, to Dr. Bakri. Many think that when they do this transition, they will LOP or change the value of these larger notes. They are not. They are honoring them at full face value. Hence this is a Revaluation as well. Continue reading →
We’ve heard a few rumblings in the community lately of the following theory, we’re not sure who came up with it first, so we’re not really sure who should get proper credit, but we wanted to share this following theory (and article below)….
It is a GOOD thing if they halt the “RE-DENOMINATION” of the IQD Dinar (that is a.k.a. a “LOP”). We think they are halting the “Re-denomination” because they are going to instead “REVALUE” the Iraqi IQD!!!
Understand, a “LOP” or “Re-denomination” is NOT good… Remember the economic disaster that befell Turkey’s economy when they did a “LOP” of their currency!
The theory is that Maliki, Talabani, Allawi and Shabibi have been fighting about this…. Clearly from the news in the last 24 – 48 hours indicates that Shabbs is winning – which is extremely GREAT for us!!! So, hopefully soon we will now get the Revaluation…. and NOT THE LOP!!!
April 13th, 2012 08:39 pm · Posted in NEWS (Iraq & World Currency)
Reuters – [4/13/2012]Iraq has decided to hold off on a plan to knock three zeros off the nominal value of bank notes of its currency because it does not believe the economic climate is suitable, the cabinet secretary said.The central bank said last August it planned to redenominate the Iraqi dinar to simplify financial transactions in an economy that is still heavily centralised and dominated by oil, and where deals are often carried out in cash. (1000dinar is worth about NZ$1)The proposal to restructure the dinar to bring more liquidity into the market has been awaiting parliamentary approval since Continue reading →