Why would our notes be viable for exchange?

[vomer]

Let's assume there is an RV. Whether it be .10 cents, $3.33, or $20, or whatever. Why would these dinars we have in our shoeboxes in the attic be used to exchange? I'm not sold on that.

Seems they would be rendered obsolete. Please enlighten me.

[chess]

Why?....so we can get rich. Do you mean "how?"

 

CBI thing is (perhaps?): just too many zillions of 'em out there!?....and, a continual selling cash cow for them.

 

As Bevis and Butthead remarked...."I hate numbers; just too many of them!"

[dontlop]

Iraq hasn't agreed to IMF article 8

Iraq still has payment restrictions

No one has to give you another currency for your currency

You have to have a buyer

Currency is good for paying debts for goods and services

It is not a commodity

Not is it backed by a commodity

Iraq doesn't issue dollars

The USA doesn't issue euros

You can't demand euros from our central bank for our dollars

You can't go to India and make them give you russian ruples for your rupees

They are not an exchange

You can spend them anywhere they are accepted and you can sell them

To anyone who wants to buy them

That's it

I don't see any big demands for buying Iraqi dinar except in Iraq at the daily currency auctions

So you will be paying someone a percentage of what they are worth to get rid of them

There's trillions of them

Iraq buys back around 200 billion a day from its auctions

So we will need to get in line

Central banks do currency swaps to provide liquidity of their currency to other central banks

If there ever is a rv

The central bank of Iraq may deposit some dinar in the federal reserve in exchange for dollars to provide for an exchange of their dinar coming from the USA

We will see

The Iraqi dinar is legal tender issued by the central bank of Iraq on behalf of the Iraqi federal govt

It how country's establish themselves in the world trade community, honoring their country's currency is not a joke

Iraqs entire future depends on the honesty of the govt of Iraq

I wouldn't worry about it

Ya don't dis your own country's legal tender

[chess]

More of a digital mode, then the use of physical currencies.

[jeepguy]

mmmm  going  too differ  with   the  don`t   lop  ,  {  I had  originally purchased my dinar  from  a bank ,  also bought  other  currencies ,  at one time I had been thinking of letting  the other  currencies  go back to the bank ,  they would  take them  but  at  a loss  on my end  in which  I didn`t  wish to do  ,  I  can  use  them else where I can  imagine }   but  also , I do  think  when  and if  the dinar  has  a re-value  of  even .10 cents  per  dinar note  I would  have  too  also  imagine  that  bankers  or other institutions  that deal in cash  will take them {  but  like  my other currency  at  a  loss  ------ well  at .10 per  and they buy  them   back  at  say  .06   per    I do not see this  at  a loss at all   a  nice gain .. } 

[dontlop]

If there's a buyer

You can sell them

[dontlop]

The International War on Cash

http://mises.org/daily/6370/

[gymrat76541]

So what you are saying is: You purchase currency - stick it in a shoe box and it is no longer good currency?

 

The currency that we have purchased since late 2003 is the currency that is official & is still in use today.

 

Should they update their currency, there will be a trade in/transition period to faze in the new, and take out the old. Say 6 months or so.

 

Hopefully we will all have cashed in by that time!

[dontlop]

Sure if Iraq does a change in its currency they will

Exchange dinar for new dinar

Where will Iraq do something like that , all over the world

I would think we will need a currency dealer to travel to Iraq if they are exchanging dinar for new dinar

If they just add lower denominations and rv

Then you will need to find a buyer to buy your dinar

Most likely a currency dealer

Could be banks get involved and then they would use a dealer to unload them

If the us treasury accepts them into their foriegn reserves we will be in good shape

I would think Iraq would need to remove payment restrictions first by accepting IMF article 8 before the treasury even thinks about accepting them

[Yukon Silvermoon]

Because my best friend TNT Tony said so

[umbertino]

Why?....so we can get rich. Do you mean "how?"

 

CBI thing is (perhaps?): just too many zillions of 'em out there!?....and, a continual selling cash cow for them.

 

As Bevis and Butthead remarked...."I hate numbers; just too many of them!"

Beavis & Butthead ...the true Philosophers of our time.....I mean it

[rulesforrebels]

I guess I don't really get why you don't think the notes would be valid. Are you saying they wouldn't be valid because they are outside of Iraq? Because they are owend by US citizens? Because you think they will outmode the old currency and roll out a new currency? What's teh argument our makin?