In case you never saw where the CBI said they would lower the notes in circulation to 1 billion

[new york kevin]

Project will lead to reducing the rate of the national currency in circulation from four billion to one billion notes

Posted by Iraq News Journal on Aug 18, 2014 | Leave a Comment

A member of the Finance Committee MP / coalition of Kurdish blocs / Dler capable, that the relative improvement of the value of the Iraqi dinar against the dollar during the current period, making some states want to deal with it. He is capable of: that the Iraqi dinar is improving day after day, thanks to the new monetary policy pursued by the central bank, prompting some countries such as India and neighboring countries wishing to deal in the business processes. He pointed out that the increase in the confidence of the world in Iraqi dinar will make it difficult international currency, likely that the coming weeks will see an improvement over the value of the dinar against the dollar, and this will enhance the confidence of the world with it. India has approached the Iraqi government the adoption of dealing in local currencies in the process of commercial exchanges of the two countries instead of the dollar and currencies in order to support the Indian and Iraqi forces. The Finance Committee has confirmed that 2014 will see the deletion of zeros from the Iraqi currency, are described: The deleted will be in coordination with the Central Bank. The committee member said Abdul-Hussein al-Yasiri in a press statement: The process of deletion of zeros from the national currency will begin during 2014, through an agreement with the central bank, noting: This project will lead to reducing the rate of the national currency in circulation from four billion to one billion. Added: The value will be reduced to the size of the quarter, and this will enhance the value and easy to transport, pointing out that fraud or manipulation of currency cash, it will be very difficult. The CBI identified earlier in the beginning of this year will see the implementation of the project to delete the three zeroes from the national currency, but the Iraqi government has demanded the bank to wait to apply the project, fearing the emergence of counterfeit currency during the switching process.

 

[dontlop]

Remember that

They said we would see an increase in value on the coming weeks

Geez those gurus took off on that one

They promised us all their intel was calling for a rv every day for a month

These words went postal

international currency, likely that the coming weeks will see an improvement over the value of the dinar against the dollar, and this will enhance the confidence of the world with it

Read more: http://dinarvets.com/forums/index.php?/topic/184754-in-case-you-never-saw-where-the-cbi-said-they-would-lower-the-notes-in-circulation-to-1-billion/#ixzz3AnrtuDwQ

[jcfrag]

"will be reduced to the size of a quarter"  That would be akin to taking a 25,000 dinar note and stating/saying "It is now worth 6,250 dinars!" ....but what is the value of 6,250 dinars?  Do they always have to speak in riddles????    Simply stated, 25,000 dinars will soon be worth 6,250 dinars...that will not enhance the dinar unless each of those 6,250 dinars are actually worth more....  riddles .......  : /

Edited August 19, 2014 by jcfrag

[deniscanada]

smooookkkkkeeeennnnn

 

Thanx

[new york kevin]

Remember that

They said we would see an increase in value on the coming weeks

Geez those gurus took off on that one

They promised us all their intel was calling for a rv every day for a month

These words went postal

international currency, likely that the coming weeks will see an improvement over the value of the dinar against the dollar, and this will enhance the confidence of the world with it

Read more: http://dinarvets.com/forums/index.php?/topic/184754-in-case-you-never-saw-where-the-cbi-said-they-would-lower-the-notes-in-circulation-to-1-billion/#ixzz3AnrtuDwQ

Dontlop: I am not surprised you were the first to leave a reply. Cool. Sorry I couldn't open your link. This article was not from a Guru. I am not a Guru. Its from The Iraqi Journal. Go to their website and check it out for yourself.

[betsy1949]

Ready and waiting!  First week of September is sounding great to me.

[67brand]

Thanks for the post , New York Kevin

[Laid Back]

CBI, Do what you want but increase the exchange rate

[blueskyline]

The CBI has been doing their thing through most of this mess 

[new york kevin]

Everyone I am really hoping that there is some bit of "inside" info that isn't included in this article. Something that would clarify things, answer the questions we have. I don't want a lop, I dont want it to come in at 25% of his current value ie: 6000 dinar for a 25k dinar. Come on $1. Here $1. Dont want to go backwards I want to go forward. Amen.

[new york kevin]

Ready and waiting!  First week of September is sounding great to me.

 

The first week of September will be perfect, remember there are 31 days in December though. Time will tell.

[Steve B.]

"will be reduced to the size of a quarter"  That would be akin to taking a 25,000 dinar note and stating/saying "It is now worth 6,250 dinars!" ....but what is the value of 6,250 dinars?  Do they always have to speak in riddles????    Simply stated, 25,000 dinars will soon be worth 6,250 dinars...that will not enhance the dinar unless each of those 6,250 dinars are actually worth more....  riddles .......  : /

 

If you read a little further, the article states that they are talking about the number of notes, not the value.

 

Also, why would they release new 25K and 10K notes to co-exist with the old ones if they were going to cut the zeros off the notes???

 

Just saying...

[Theseus]

"will be reduced to the size of a quarter"  That would be akin to taking a 25,000 dinar note and stating/saying "It is now worth 6,250 dinars!" ....but what is the value of 6,250 dinars?  Do they always have to speak in riddles????    Simply stated, 25,000 dinars will soon be worth 6,250 dinars...that will not enhance the dinar unless each of those 6,250 dinars are actually worth more....  riddles .......  : /

The article did not say "a" quarter but "the" quarter. The semantics play a big part here. If you took the current excange rate of 1166 and multiplied that by .25 you would enhance the rate of the dinar to a rate of 1:279. This is all speculation on my part. "the quarter" comes into pay by the reference from taking three-quarters of the dinar out of circulation thus leaving the quarter of the dinars in circulation. So the reference here is "the quarter of dinars left in circulation". Law of Supply and Demand comes into play. Less Supply more demand the price increases for that product. I am merely hypothesizing and could be sooo totally wrong. But should this transpire, the dinar could go at a rate of 1:279 by the time this is through (1166*.25 = 279). The mileage may vary on this and I could be 100% absolutely wrong.

[Steve B.]

Don't know what happened to my original post...

 

The number of notes will be reduced to a quarter of their current number: 4 billion down to 1 billion...  NOT the value.  Also, why would the CBI have new 25K and 10K notes printed just to cut the zeros off of them?

[Theseus]

"will be reduced to the size of a quarter"  That would be akin to taking a 25,000 dinar note and stating/saying "It is now worth 6,250 dinars!" ....but what is the value of 6,250 dinars?  Do they always have to speak in riddles????    Simply stated, 25,000 dinars will soon be worth 6,250 dinars...that will not enhance the dinar unless each of those 6,250 dinars are actually worth more....  riddles .......  : /

The article states "the quarter" not "a quarter". This could be a translation error who knows. However, my hypothesis on this (which could be absolutley 100% wrong) is that "the quarter" is the author is talking about is "the quarter of dinars left in circulation" So if we took three-quarters of the dinars out of circulation and are left with the quarter of dinars in circulation, this could (hypothetically) enhance the rate by multiplying the rate by .25 (a quarter). This would the leave the dinar rate at 1:279 which would be an enhancement. "the quarter" plays to the the quarter of the dinars left in circulation not a quarter of the stated dinar note. Also the drawdown of notes from circulation would take time and as such the enhancement of the rate would also follow suit as dinars are taken out of circulation. This would be a final rate once all the notes have been withdrawn from circulation; not an overnight rate. More of a goal rate than anything else.

 

(This is my opinion and is hypothetical. I could be absolutely 100% wrong.)

[kostaske]

"will be reduced to the size of a quarter"  That would be akin to taking a 25,000 dinar note and stating/saying "It is now worth 6,250 dinars!" ....but what is the value of 6,250 dinars?  Do they always have to speak in riddles????    Simply stated, 25,000 dinars will soon be worth 6,250 dinars...that will not enhance the dinar unless each of those 6,250 dinars are actually worth more....  riddles .......  : /

This is where we get lost in the translation...  My take on this is like so:

The previous sentence is this: This project will lead to reducing the rate of the national currency in circulation from four billion to one billion

following the:"will be reduced to the size of a quarter", so from that I deduce that they want to mean: the number of notes in circulation will be reduced to one quarter.

Ofcourse that is my opinion and they may mean something different.

Edited August 19, 2014 by kostaske

[jcfrag]

If you read a little further, the article states that they are talking about the number of notes, not the value.

 

Also, why would they release new 25K and 10K notes to co-exist with the old ones if they were going to cut the zeros off the notes???

 

Just saying...

I've never been a believer in them actually "lopping off zeros" but the only reason I could see two 25,000 dinar notes co existing is the newer one literally showing up on the market with 3 zeros lopped off.... It would literally be equal with dollar as that is what I paid for my 25,000 dinar notes. They would be confused for sure as that would not make the dinar more valuable, but would only prove it ain't worth much. Once again, riddles......

[MyLadiesDaddy]

Correct me if I'm wrong, but I don't ever recall seeing an article stating specifically

the central bank's desire to print newer $25000 dinar notes.

I have seen the new $10,000 note and read several articles stating their intention to

print the smaller denoms.

[sandfly]

LOOK BACK TOO MAY ARE APRIL THEY ONLY HAD ONE BILLION OUT

[new york kevin]

The article did not say "a" quarter but "the" quarter. The semantics play a big part here. If you took the current excange rate of 1166 and multiplied that by .25 you would enhance the rate of the dinar to a rate of 1:279. This is all speculation on my part. "the quarter" comes into pay by the reference from taking three-quarters of the dinar out of circulation thus leaving the quarter of the dinars in circulation. So the reference here is "the quarter of dinars left in circulation". Law of Supply and Demand comes into play. Less Supply more demand the price increases for that product. I am merely hypothesizing and could be sooo totally wrong. But should this transpire, the dinar could go at a rate of 1:279 by the time this is through (1166*.25 = 279). The mileage may vary on this and I could be 100% absolutely wrong.

Sounds good to me for a interpretation Theseus.

[Tripphood]

Interesting if this happens first week of September because there was a recent article about the dong stating some new decree to begin September 5th.

[MyLadiesDaddy]

Interesting if this happens first week of September because there was a recent article about the dong stating some new decree to begin September 5th.

Yep. Made me get some.