Results 1 to 14 of 14

Thread: Japan may drop zeros from yen (rebasing thier currency)

  1. #1
    Join Date
    Jan 2006
    Location
    CT
    Posts
    2,962

    Exclamation Japan may drop zeros from yen (rebasing thier currency)

    I did a search on "rebasing currency" and came across this article from 2001...I'm not thrilled about it.


    ______________________________________________

    Tuesday, 6 March, 2001, 13:37 GMT

    Japan may drop zeros from yen


    The 2,000 yen banknotes could be shrunk to 20 yen


    Japan's ruling Liberal Democrat party is mulling rebasing its currency, according to national press reports.

    The change would mean that a couple of zeros would be lopped of the end of the yen, making one unit worth a hundred times more.

    http://news.bbc.co.uk/1/hi/business/1205023.stm
    The Government has the final say concerning the dinar

    http://www.investorsiraq.com/showthr...ies.&highlight=

  2. #2
    Join Date
    Mar 2007
    Posts
    2,810

    Default

    Quote Originally Posted by Stout Hearted Man View Post





    Dude..... stop man you're killin me...

  3. #3
    Join Date
    May 2006
    Posts
    513

    Default Did Japan do it?

    Did this really happen? I haven't found anything says it did, still digging but the only info I have stops in 2004 and it shows Japan's as:

    1 April 1978 -present
    managed float (IMF: independent float) International Monetary Fund, Board of Governors, Resolution No. 31-4, 30 April 1976 ("Second Amendment") The system of gold par values officially ended by agreement of IMF members. RR: Freely floating.

    Any help on this would be great.....JMO if they didn't do it then maybe they put it out there to run investors off like iraq is trying to do.

  4. #4
    Join Date
    Jan 2007
    Location
    UK, "Soon" to be Whangaroa NZ
    Posts
    1,013

    Default

    Quote Originally Posted by Stout Hearted Man View Post
    I did a search on "rebasing currency" and came across this article from 2001...I'm not thrilled about it.


    ______________________________________________

    Tuesday, 6 March, 2001, 13:37 GMT

    Japan may drop zeros from yen


    The 2,000 yen banknotes could be shrunk to 20 yen


    Japan's ruling Liberal Democrat party is mulling rebasing its currency, according to national press reports.

    The change would mean that a couple of zeros would be lopped of the end of the yen, making one unit worth a hundred times more.

    http://news.bbc.co.uk/1/hi/business/1205023.stm


    making one unit worth a hundred times more. Sounds good to me.............
    ! I did what others Won't, So i can do what others Can't !!

  5. #5
    Join Date
    Dec 2006
    Posts
    2,333

    Default

    Todays rate for Dollar to Yen is 1.00 USD = 110.512 JPY
    so they never went through with it for some reason. Question is why?
    They were also fighting an 11 year recession and were desperate to do something.








  6. #6
    Join Date
    May 2007
    Location
    Detroit MI
    Posts
    1,438

    Default

    Ok so lets look at what currency they have........
    The yen is the Japanese currency unit. There are four kinds of bills (10,000 yen, 5,000 yen, 2,000 yen 1,000 yen) and six kinds of coins (500 yen, 100 yen, 50 yen, 10 yen, 5 yen, 1 yen) used. Japanese currency is designed to facilitate easy use by people with sight impairments. All of the bills and coins are different sizes. For example, the bills descend in size from 10,000 Yen to 1,000 Yen. Each bill also has raised bumps in the bottom, left corner (if looking at the bill from the front).



    8ball

  7. #7
    Join Date
    Jun 2006
    Location
    Central MN
    Posts
    5,026

    Default

    Quote Originally Posted by Stout Hearted Man View Post
    I did a search on "rebasing currency" and came across this article from 2001...I'm not thrilled about it.


    ______________________________________________

    Tuesday, 6 March, 2001, 13:37 GMT

    Japan may drop zeros from yen


    The 2,000 yen banknotes could be shrunk to 20 yen


    Japan's ruling Liberal Democrat party is mulling rebasing its currency, according to national press reports.

    The change would mean that a couple of zeros would be lopped of the end of the yen, making one unit worth a hundred times more.

    http://news.bbc.co.uk/1/hi/business/1205023.stm
    they must have decided against this but it does show rebasing
    is a lop

    Quote Originally Posted by Bear View Post

    making one unit worth a hundred times more. Sounds good to me.............
    I was wondering who would be the first

  8. #8
    Join Date
    Jan 2007
    Location
    UK, "Soon" to be Whangaroa NZ
    Posts
    1,013

    Default

    I may be wrong but i was under the line of thought that!!

    A lop just reduces the value of the Note.....Unless Followed by an RV or the Currency............
    ! I did what others Won't, So i can do what others Can't !!

  9. #9
    Join Date
    Jun 2006
    Location
    Central MN
    Posts
    5,026

    Default

    Quote Originally Posted by Bear View Post
    I may be wrong but i was under the line of thought that!!

    A lop just reduces the value of the Note.....Unless Followed by an RV or the Currency............
    for ease of calculation lets say the yens rate was 100 yen = 1 usd

    Before a lop, rebase or re-denomination
    2,000 yen = $20 usd

    After a 2 zero lop
    The 2,000 yen banknotes could be shrunk to 20 yen

    20 yen = $20 usd

    The number value of the note is reduced but not its worth.

  10. #10
    Join Date
    Nov 2005
    Posts
    580

    Default

    "But there could also be harmful side-affects, such as opportunistic price rises during the conversion period."

    Sounds like they were concerned about currency speculation. :)


    If Iraq wants to play ball on the international stage, they're going to have to bite the bullet.
    Last edited by rueben; 12-03-2007 at 09:05 AM.

  11. #11
    Join Date
    Nov 2006
    Location
    Southern California
    Posts
    671

    Default

    I started a thread 3 months ago on another forum...

    Japanese Yen is going to RV..
    I will wait and I can wait for it...

  12. #12
    Join Date
    Jun 2006
    Posts
    3,478

    Default

    Global Unilateral Currency Revaluation of 2007!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    Vietnam, South Korean, Bhutan, Loas, China, Japan, Saudi Arabia, Emirates, Iraq, Colombia, Chile, Uruguay, Paraguay, Nigeria, Kazahzstan, Iran, Russia, Indonesia, Taiwan, Hong Kong, Baharain, Qatar.

    Bretton Woods III of 2007

    IMF Executive Board Concludes 2007 Article IV Consultation with Japan
    August 6, 2007
    http://www.imf.org/external/np/sec/pn/2007/pn0796.htm

    Yen is Undervalued and the Effective Real Exchange Rate 2007 at 1USD/64 Yen

    Could happen this year notice the Date of the consultation just like the USD and IQD and many more???????????????????
    Last edited by diamondback; 12-03-2007 at 02:11 PM.

  13. #13
    Join Date
    Jan 2006
    Location
    CT
    Posts
    2,962

    Cool Just back from work

    Quote Originally Posted by Shau - Kenshin View Post



    Dude..... stop man you're killin me...

    Yeah, that photo got me too!
    Don't they look like 25,000 NID notes?



    Quote Originally Posted by MrsCK View Post

    Did this really happen? I haven't found anything says it did, still digging but the only info I have stops in 2004 and it shows Japan's as:

    1 April 1978 -present
    managed float (IMF: independent float) International Monetary Fund, Board of Governors, Resolution No. 31-4, 30 April 1976 ("Second Amendment") The system of gold par values officially ended by agreement of IMF members. RR: Freely floating.

    Any help on this would be great.....JMO if they didn't do it then maybe they put it out there to run investors off like iraq is trying to do.

    I don't know if they did, but I'm sure all countries would say whatever they believed they had to say to discourage speculators.



    Quote Originally Posted by dinarsaurous View Post

    So what is this saying?
    If NID lops three
    1.219
    .0000008
    .81
    25,000
    25.

    JK!

    The Rebasing article that just came out sends "mixed signals" so its hard to say. The only thing I believe in the article is that they will come to a "decision" on how to raise the dinar's value in 3 months...That I'm excited about!



    Quote Originally Posted by JPmonopoly View Post

    they must have decided against this but it does show rebasing
    is a lop

    That's what jumped off the page at me. It definately IS a Lop.



    Quote Originally Posted by rueben View Post

    Sounds like they were concerned about currency speculation. :)

    If Iraq wants to play ball on the international stage, they're going to have to bite the bullet.

    IMO, YES and YES!

    Quote Originally Posted by SunnyGift View Post

    I started a thread 3 months ago on another forum...

    Japanese Yen is going to RV..
    Quote Originally Posted by diamondback View Post

    Global Unilateral Currency Revaluation of 2007!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    Vietnam, South Korean, Bhutan, Loas, China, Japan, Saudi Arabia, Emirates, Iraq, Colombia, Chile, Uruguay, Paraguay, Nigeria, Kazahzstan, Iran, Russia, Indonesia, Taiwan, Hong Kong, Baharain, Qatar.

    Bretton Woods III of 2007

    IMF Executive Board Concludes 2007 Article IV Consultation with Japan

    August 6, 2007
    http://www.imf.org/external/np/sec/pn/2007/pn0796.htm

    Yen is Undervalued and the Effective Real Exchange Rate 2007 at 1USD/64 Yen

    Could happen this year notice the Date of the consultation just like the USD and IQD and many more???????????????????

    I am begining to wonder how many countries have undervalued currency. After this investment comes to its finale I think I will look into it.

    __________________________________


    Just for the record.

    I am still buying NID and ONLY when this investment comes to its conclusion will I return my dinar to Iraq.

    My opinion is that Iraq will not rebase/lop but will revalue their currency. We'll find out in 3 months according to the Finance Minister.
    The Government has the final say concerning the dinar

    http://www.investorsiraq.com/showthr...ies.&highlight=

  14. #14
    Join Date
    Jul 2006
    Posts
    7,981

    Default

    Quote Originally Posted by JPmonopoly View Post
    for ease of calculation lets say the yens rate was 100 yen = 1 usd

    Before a lop, rebase or re-denomination
    2,000 yen = $20 usd

    After a 2 zero lop
    The 2,000 yen banknotes could be shrunk to 20 yen

    20 yen = $20 usd

    The number value of the note is reduced but not its worth.
    Well at least that i good news.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •