Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by garthstar

even with the abominations of chemical warfare the U.S Military comitted in Vietnam, they still had to give up.


i say euro, cos the dollar has had its day.


with SBP you can retire on 10K anyway, if youre happy to rent for a while...

G

The USA did not use chemical warfare in Vietnam...the only thing we used other than conventional weapons were napalm incendiary bombs. I should know because I was there with the 4th Infantry Division for 12 months in 1968.

I tend to agree that the value of the dollar will diminish substantially over the next 5 years.

What is SBP?

Originally Posted by clueless

What you have done here is lop zeros from both the exchange rate and the note.. they will only lop from the exchage rate.. i.e.

today it is

1 NID = .000685 USD

and after lopping 2 zeros.. it would be

1 NID = .0685 USD

The million is still a million time .0685 = $68,500 USD

Ok, thanks!
I didn't know it's .000685 today...so I didn't understand the thing about lopping from the exchange rate.
I feel better!

An increasing number of Middle East consumer electronics vendors are generating significant sales in Iraq by circumventing traditional route-to-market channels.

Despite the volatile nature of the the country’s domestic economy and ongoing security issues, there remains a huge consumer demand for electronics goods in Iraq, with many vendors developing innovative strategies for expanding their business in the country.

“Iraq represents a potentially huge market for Middle East vendors,” Olympic Group’s regional export manager, Khaled Hegab, told ECN.
http://www.itp.net/news/details.php?id=20997&category=

Originally Posted by karinc

Ok, thanks!
I didn't know it's .000685 today...so I didn't understand the thing about lopping from the exchange rate.
I feel better!

Sorry to be dense, but does it mean that there is lopping and THEN pegging? Or is lopping the equivalent of pegging? (sounds like some weird pirate movie or something...) I don't know whether to be depressed or still expectant. Don't get me wrong, 68K is a pile more dough than I have now, but it's a far far cry from the entire lifestyle-ectomy that a lot of us were dreaming.
help!
kristin

Originally Posted by ourhouse37

Sorry to be dense, but does it mean that there is lopping and THEN pegging? Or is lopping the equivalent of pegging? (sounds like some weird pirate movie or something...) I don't know whether to be depressed or still expectant. Don't get me wrong, 68K is a pile more dough than I have now, but it's a far far cry from the entire lifestyle-ectomy that a lot of us were dreaming.
help!
kristin

Well, i think he missed out on a 0.

0,685 * 1 million = 685,000 not 68,500 that was stated.

Originally Posted by ourhouse37

Sorry to be dense, but does it mean that there is lopping and THEN pegging? Or is lopping the equivalent of pegging? (sounds like some weird pirate movie or something...) I don't know whether to be depressed or still expectant. Don't get me wrong, 68K is a pile more dough than I have now, but it's a far far cry from the entire lifestyle-ectomy that a lot of us were dreaming.
help!
kristin

Funny,

PegLop Pete, the pirate, I remember him too. LOL The lop happens to currency which already has a set value, so it really does not apply here as I see it. If it were to happen, then the peg and lop would happen at the same time, but don't worry about it, I still here the same as before, so PegLop Pete is dead and buried. LOL

Good luck to all, Mike

Originally Posted by Raditz

Well, i think he missed out on a 0.

0,685 * 1 million = 685,000 not 68,500 that was stated.

Zero lopping is just a phrase that has been used to describe one method of "adjusting" the exchange rate. Peg refers to "fixing" the exchange rate at a specific value.

Actually this specific comment was related to the one rumor that Adster had posted with the potential bad news that an early reval might be done at the low rate of just under 7 cents per NID. So, that is .0685 USD per NID or the 68,500 USD per million NID as posted. This rumor sounded like it might be a reval without a peg, i.e. still floating after the original revaluation.

But this is only one possibility and there seems to be more support for a the idea of a peg at a higher rate.

Mike, sorry to be in disagreement with you (not a place i am comfortable to be) but that whole idea that lopping referrs to changing the denomination of the notes is not the real story right? there was a very good post about what happened in Afghanistan explaining that lopping actually was referring to removing decimal places from the exchange rate itself. that matches what Adster posted in the sad rumor about a possible initial reval below 7 cents.

Thanks Mike,
That makes me feel better. I think so were really starting to get worried. That "lop" word comes out and there is panic. Thanks for making that clear.

Coming from where I do, when the word LOP is mentioned, Lorena and John Wayne Bobbit are usually thought of....for a COMPLETELY different reason than currency!

Originally Posted by tiffany

Coming from where I do, when the word LOP is mentioned, Lorena and John Wayne Bobbit are usually thought of....for a COMPLETELY different reason than currency!

That is disgusting.