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fnbplanet

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fnbplanet last won the day on March 3 2012

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About fnbplanet

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    VIP Wise Guy

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    Medina, Ohio
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    Retiring VERY Soon!

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  1. Is it possible that they need to reduce the "chunky cash" in order to increase the value? Seems so. Makes sense that they want LESS of it out there when they get everything else done.
  2. Agree, chump change won't change their minds. The distrust in their banks trumps their nationalistic pride at the moment. Gotta see $1 plus to move them, and the CBI knows it.
  3. That is exactly how it will go down. To them, it's a wash, but they wouldn't need a wheelbarrow to carry the new denoms to go grocery shopping. My question is: what happens if they go online and buy Euros or even USD? In Iraq, their prices will adjust to the new currency, and the 3 zeroes will be ignored on the old (current) currency. Would Iraq be able to pay it's debts at the new rate? Wouldn't rebuilding Mosul cost less with imported materials purchased with the new rate?
  4. When I posted this article, seems like a month now, I didn't associate a new rate, only that Iraq was clamping down on the movement of dinar. Some members have pointed out that large amounts CAN still be moved in or out if the "proper forms" are submitted. In Iraq, submitting a form does not mean permission has been granted - until it has been ACCEPTED AND APPROVED (may include bribes). My point was that they have a system in place to restrict the flow of dinar. $10,000 USD is an international norm for our dollars and most other currencies. IMO, the 200,00 dinar threshold is artificially low - as in being restrictive. What reason is there, right now, for a tourist OR a businessman to carry dinar outside of the country where it CANNOT be used (except to sell to speculators!)? They can shut it down now (as much as possible, legally) by: 1. not accepting the proper forms 2. not granting permission, or limiting the amounts (the forms must ask WHY you need useless currency elsewhere) 3. not providing the forms in the first place. Aside from money laundering, which the IMF discourages, I believe that they are at the stage of preventing more speculation before the value changes.
  5. He has a lot on his mind alright, probably hashish. They ripped him like he was Trump.
  6. I think this whole thing is a negotiating ploy. The referendum is not binding (more of a show of hands- "who wants this?"), but would be something to threaten Baghdad with in order to get their "fair share" of the budget. If the GOI/CBI need them on board to be compliant with the IMF/World Bank/UN, they will give them their 17%+ and pay what's owed. The GOI will always have the option to cut their 17% off if they declare independence. Once the people are getting a share of the oil money pie, they won't want to leave.
  7. link BAGHDAD / The General Authority for Customs announced on Tuesday new instructions and controls for the declaration of funds when they are introduced and exported across the Iraqi border issued by the Central Bank of Iraq / Council against Money Laundering and Financing of Terrorism. "According to the provisions of Paragraph (4) of Article (7) and the provisions of Articles (34) and (35) of the AML / CFT Law No. (39) for the year 2015, we issued the controls," the Customs Authority said in a statement received by Al-Ghad Press. The following: The provisions of the declaration of funds when entering and removing them across the Iraqi border on the basis of the provisions of the paragraph and the two articles relating to the obligation of each person upon entering or leaving Iraq, upon the request of the representative of the General Authority of Customs on the carrying of funds, currencies or negotiable instruments to be held or transferred to Iraq Or by means of a person, a postal service, a shipping service or by any other means. The permit includes the value of such currencies or instruments. Based on the approval of the AML / CFT Council at its meeting in July 2017, it was decided that: 1. Every traveler who enters or exits Iraqi territory must declare the following: (A) The money which exceeds ten thousand dollars or the equivalent in other foreign currencies. Precious stones and precious metals if their value exceeds (10,000) ten thousand US dollars. (C) negotiable financial instruments of its holder or transferred inside or outside Iraq through a person, postal service, shipping service or any other means in excess of US $ 10,000. 2. The passengers shall declare to the employees of the General Authority for Customs at the airport or the border crossing points in the Republic of Iraq according to the form attached to these regulations and that the limits mentioned in item (1) apply to persons who are 18 years of age or older, For (18) years, the money in their possession must be added to the limit allowed to the guardian. 3. The entry and exit of the Iraqi currency shall be limited to and from Iraq, except to the permitted limits of (200000) two hundred thousand Iraqi Dinars. In the event of transfer of an amount higher than the said limit through a person or postal service or shipping service or by any other means, Above the limit and fill out the declaration form and send it to the AML / CFT office. 4- Each customs department at airports and border crossings shall take the following measures: (A) The development of sufficient guidance boards and languages (Arabic, Kurdish and English) in high and visible places showing the provisions of these regulations. (B) To require the passengers to fill out the above-mentioned permit form if they have cash or negotiable financial instruments for their bearer, the amounts of which exceed ten thousand (ten thousand) US dollars or the equivalent in other foreign currencies and if they have more than (200000) ) Two hundred thousand Iraqi dinars and if they are in possession of precious stones and precious metals worth more than (10000) C - Provide appropriate numbers of authorization forms at all border crossings to provide passengers arriving and departing for the purpose of declaring the cash and financial instruments and precious stones and precious metals in their possession. (E) The maintenance of regular records in which all cases of authorization made by the Customs Department and cases in which the passenger has not made the required authorization in accordance with the provisions of the Money Laundering and Terrorism Financing Law and these regulations are maintained and kept for five years or more depending on the nature of the cases. (F) Request additional information from travelers about the source of the funds and the purpose of their transfer in the event of a false declaration or in the absence of a declaration, with no convincing reason for not declaring or in case of suspicion. (G) Providing the AML / CFT Office with the authorization forms and any information it requests. 5 - In addition to what is stated in item (3) above, the staff of the General Authority for Customs at the border crossings to seize cash and negotiable financial instruments and precious stones and precious metals for any of the following cases: (A) The passenger does not permit the discovery of money exceeding the limit specified in item (1) above or giving false information about it. The staff of the General Customs Authority shall investigate the reasons for not requesting the form. The reservation shall be made in case there are no actual convincing reasons. Convincing the absence of suspicion is filled out form and release the amount. (B) There is sufficient evidence to suspect that the money described in item (1) above is derived from an original crime, money laundering offense or a terrorist financing offense or is intended for that purpose. 6. The Anti-Money Laundering and Terrorism Financing Office issues a recommendation to remove the reservations from the reservations stipulated in item (5) of these regulations in the case of reinforcements confirming the validity of the checks or referring them to the items within seven (7) days from the date of notification of the decision. For customs purposes. 7. Cash and negotiable financial instruments, precious stones and precious metals issued and delivered by mail, shipping service or other means shall be stated in accordance with item (1) and (2) above. OK, tell me if this sounds like they're about to put a squeeze on further speculation on the dinar. You can enter OR leave Iraq with ANY currency in the amount/value of $10,000.00 USD - EXCEPT: Iraqi Dinar. You can only enter or leave with 200,000 Iraqi Dinar (currently about $200.00 USD worth). Am I reading this correctly? I'd really be interested in my esteemed dinarian family's thoughts on this. Thanks!
  8. I thought they meant Michael Moore!
  9. You can BET the Euro union likes this - imagine: refugees moving back to the middle east to become Iraqis, and get free money!
  10. Um.........does anybody else think this sounds like SOMETHING very HUGE is about to happen? Not sayin' it's THE announcement we've all been waiting for (but it could be). If not the RV, then at least a major step towards it? Away from it?
  11. Wouldn't the "HIGH" number be lower than the "LOW" number? Less dinars to the dollar would be worth more.
  12. I-I-I-I-I-I-I'm thinkin' everybody has the notion that Iraq is steppin' up to serious "player" staus soon, and they want to be nicey-nicey to stay in their "good graces"....
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