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 →