A few terms to know when you read comments from other dinar holders so you are not in the dark.
Monetary Terms
The following are basic terms concerning a monetary System (I will break the meaning of Monetary Systems, Exchange Rate Regimes and others down in my next few Blog)
Revaluation – means a change of a price of goods or products. This term is specially used as revaluation of a currency, where it means a rise of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. Altering the face value of a currency without changing its foreign exchange rate is a redenomination, not a revaluation.
Devaluation – means a decrease of a price of goods or products. This term is specially used as devaluation of a currency, where it means a decrease of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. Altering the face value of a currency without changing its foreign exchange rate is a redenomination, not a devaluation.
Deleting the zeros and other terms concerning the 3 zeros:
Deleting zeros – a term used by Central Banks of countries when they take zeros away from a currency. Russia, Turkey and other countries have just deleted zeros from their currencies to make cash transactions easier.
Removing zeros – can be used the same way as deleting zeros or they can be referring to this when talking about removing the larger zero notes from circulation, or removing from their money supply.
Lifting by 3 zeros – this has been used as well and has been used when talking about purchasing power. Example: Lifting the purchasing power by 3 zeros.
Raising by 3 zeros – again normally used when they talk about the purchasing power.
Slang Terms
Pumping or Pumpers – ones that try to pump sales of the dinars, always coming up with stories to keep people hyped up on the investment by calling the revaluation time after time, etc..
Lop – a slang way of saying deleting the zeros, a negative term that has been adopted by the dinar community. Normally used by Lopsters!
Lopster – a person that only believes that the dinar will not increase in value once the Central Bank of Iraq deletes the zeros or as they say lops the zeros.
“Drinking the Kool-Aid” – the reference to drinking Kool-Aid is used by myself, speculator’s and yes the Lopster’s when referring to people that follow pumpers / guru’s. The Lopster’s though will even say this about the ones like us that look at the facts.
"Drinking the Kool-Aid" is a metaphor commonly used in the United States that refers to a person or group holding an unquestioned belief, argument, or philosophy without critical examination. The phrase typically carries a negative connotation when applied to an individual or group. The phrase derives from the November 1978 Jonestown Massacre where members of the Peoples Temple, who were followers of the Reverend Jim Jones, committed suicide by drinking a Kool-Aid-like drink laced with cyanide.
We see these people when they follow a self-proclaimed guru and they refuse to look at the facts (where is Iraqi right now and what needs completed before they can logically revalue their currency). These people have been known to have Drink way to much of the guru’s Kool-Aid but nothing can make them look at the logical side of this investment.
Real Minded Speculator’s - this is a term I came up with: the ones that believe we have a good chance of the CBI increasing the value at the same time as they delete and remove the 3 zeros by exchanging the larger 3 zero notes with notes that will be less by 3 zeros. We believe that the dinar has been kept undervalued until the time they implement currency reform. We believe that they will increase its value at an equal time that they redenominate with currency with less 3 zeros. Increasing the value of all dinars, new and old. What rate is still to be determined though.
Here are a few of my past Blogs that will help you understand more of the nuts and bolts.
I will add more on tomorrows Blog so not to throw too many at you at one time.
Here is my articles of the day yesterday because I have yet to find one today, news is on the light side: ARTICLE OF THE DAY: A new security system in Baghdad next month
I hope you can join RSS and myself tonight on Stryker WebTV, we will talk about the upcoming parliament meetings
Have a great evening,
Stryker
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