wmawhite : Well, well ,well...now the U.S. News and World Report is reporting the same thing:.."US News & World Report - Iraqi selling intl bonds and redominating currency...Reacting to the crisis, Iraq plans to issues bonds worth $7 billion — $5 billion in international bonds... Iraq also revived a long-delayed plan to redenominate the Iraqi dinar by knocking three zeroes off the nominal value of its banknotes, said Ihsan Shamran al-Yassiri, the head of Iraq Central Bank Issuing and Vaults Department"
The significance is that the IQD will be on the bond market. The bond market is twice the size of all of the world's stock markets combined.
When the IQD is on the bond market the individual bonds are able to move freely. This is the first step of the IQD reentering the world currency markets. Exciting and nice news.
Q: [...will those bonds be in Dinar...or USD? the international ones?]
wmawhite : The article...reports in IQD.
Q: [is redenominate the same thing as a LOP?]
wmawhite : No...Understanding this, ...a LOP would be going in the opposite direction. Try to understand when a country LOP it is under huge inflation and the currency is losing value daily.
Iraq has very little inflation and even the biggest critic will admit that the value of the IQD is much greater than 1166.
IvanTulafitov : Iraq news summary - Former PM Maliki rejects blame for fall of Mosul ( 2015/8/19 10:30 am ) - Chief police: ISF is advancing on ISIL in all directions in Baiji ( 2015/8/19 11:40 am) - Speaker calls for rapid endorsement of National Guard bill ( 2015/8/19 12:10 pm) -
Four2atous: 10 Money Mistakes Successful People Don’t Make = http://ilifehack.org/articles/money/10-money-mistakes-successful-peopl e-dont-make.html?utm_source=ho_1012&utm_medium=1325493
Whats in your wallet?????? = http://www.investmentu.com/article/detail/46705/foreign-currencies-usd-aint-crazy-to-buy-the-canadian-loonie#.VdRtC5dng6c
Wealthy People Save Money Like This = http://www.lifehack.org/articles/money/wealthy-people-save-money-like-this.html
SassyD : Deputy: the arrival of the new salary system to the Parliament and vote on it within a month -- 19 August 2015 - 9:04 -- http://www.faceiraq.com/inews.php?id=4104252&usg=ALkJrhg47CAbSPbbqSWMdL_TE69W8E5Hmw
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Beny: 10 Stupid Lottery Winners:
Walkingstick » August 19th, 2015, 7:49 am
Venezuela's currency is now so worthless that people are using it as napkins
Aug. 18, 2015
An image is going round that sums up just how ridiculous Venezuela's economy has become.
A Reddit user uploaded a picture on Monday of a man using a 2 bolivar note to hold an empanada.
According to Venezuela's official bolivar-dollar exchange rate, the man using his money as a napkin is wasting about $0.31 (£0.20).
But on the black market, the reality is completely different. You can get 676.88 bolivars to the dollar, according to dolartoday.com. That means holding food with a 2 bolivar note costs the holder less than a third of one US cent.
Dolartoday.com'srt shows just how the value of the bolivar has plunged, with more and more units of the Venezuelan currency required to get hold of a single dollar:
This time last year, the bolivar was far more valuable, and even as recently as May this year, you could still get hold of a dollar for less than 300 bolivars. Today, you need more than twice that.
The country has a spiralling inflation rate. Official inflation is high enough, at 68.5%, but like the official exchange rate, that paints a much rosier picture than reality. Professor Steve Hanke, who runs the "Troubled Currencies Project," a joint program between the Cato Institute and Johns Hopkins University, says in reality inflation is more like 808%.
The country is a major oil exporter, and the plunge in prices is a huge part of what's causing the crisis — as a result, the country is pegged as having the riskiest debt in the world, with the highest likelihood of a future default. Food is increasingly hard to get hold of, shop shelves are often empty, and the country's social order is deteriorating.
The country is heading into a parliamentary election in December, which will not unseat President Nicolas Maduro but could give the opposition a parliamentary majority for the first time since Venezuela's 1999 constitution came into force.
Read more: http://uk.businessinsider.com/venezuelas-currency-is-now-so-worthless-that-people-are-using-it-as-napkins-2015-8#ixzz3jGERzG4Q