"Delete the zeros in proportion to the value of the dollar"

[TBomb]

Economist: paper ten thousand dinars of new regulatory action to prevent fraud (BING TRANSLATION).



2014/09/13 16: 51


Baghdad/Obelisk: economic Media Center blamed Dergham Muhammad Ali, on Saturday, the Central Bank issued new paper ten thousand dinars tendimih procedures and prevent fraud, adding that the Central Bank went about restructuring the Iraqi currency and delete the zeros, and issuing a new currency.

He said Muhammad Ali for "Obelisk" that "the issuance of Central Bank paper new 10,000 dinars on the World Bank and within his authority, a regulatory measure is to add icons and logos on paper to increase security and prevent fraud, add watermarks and stamps to imitate".

"The Central Bank deals with solid global companies to issue currency in line with the development in this area."

The President stressed the economic Media Center need to head Central Bank to restructure the Iraqi currency and delete the zeros in proportion to the value of the dollar and raise the value of the Iraqi currency against the currencies of neighboring countries and the world . "

The Central Bank announced Thursday a new sheet of class 10,000 dinars in Iraqi markets, stressing that the citizen can easily obtained.

The new paper and some changes, including changing the image of the Arab world, al-Hasan ibn al-Haytham to the freedom monument, was also amended to Gregorian and Hijri dates 2014 1435 e, as well as the new paper will carry the signature of the Governor of the Iraqi Central Bank official Abdel Basset Turki said.

The paper contains a new 10,000 dinars to thread the buckle in the middle that contains animated effects changes color from gold to green when tilted the paper and wrote the words (the Central Bank), as well as advanced security marked a (transparent window) in the upper-right corner of the paper with a minaret Helicobacter when placed on a white background with showing the amount (10,000) when placed on a dark background, the paper also contains structures against attempts of forgery, reproduction, and the In the paper for the blind is a horizontal straight lines on the left side of the paper.

http://almasalah.com/ar/news/38151/%D8%AE%D8%A8%D9%8A%D8%B1-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A-%D9%88%D8%B1%D9%82%D8%A9-%D8%A7%D9%84%D8%B9%D8%B4%D8%B1%D8%A9-%D8%A7%D9%84%D8%A7%D9%81-%D8%AF%D9%8A%D9%86%D8%A7%D8%B1

Edited September 13, 2014 by TBomb

[dontlop]

There's a picture on this link from aug 8 2014

Don't know if this is it

http://www.banknotenews.com/files/tag-iraq.php

Someone may be able to copy the picture to this link

Cbi link needs translated

http://cbi.iq/documents/press%20for%207-8-2014.pdf

[TBomb]

I WOULD CAUTION EVERYONE TO REMEMBER THAT THIS ABOVE ARTICLE, IS AT LEAST IN PART, AND "ADVISEMENT" ARTICLE - WHAT SHOULD BE DONE.

[blueskyline]

Thanks TBomb. It's good advice .

[dontlop]

Its definatly the new 10,000 note

http://www.banknotenews.com/files/tag-iraq.php

It has the transparent window in it that reveals a minaret Helicobacter when placed on white background

minaret Helicobacter

https://m.flickr.com/#/photos/alhayaly/8621524532/

Edited September 13, 2014 by dontlop

[TBomb]

THANKS DONTLOP

[Rockymtnhi]

So if there is a new 10k note have they said how it will effect the existing 10k notes held throughout the world?

[Calijim]

My guess would be the same as when we introduced the new 100 dollar bill here. The old bills are still worth a hundred dollars,they will just be collected when they hit the banks and replaced with the new bills.

[skeetdog]

Thanks TBomb...They run hand in hand...

[Laid Back]

keep the 000's and increase the exchange rate.

[calkid11]

Thank you

[D. Jeanne]

I fail to understand how deleting the zeros will be good for dinar investors.  Can someone enlighten me?

 

D. Jeanne

[skeetdog]

Not the ones on the ''Notes'' the ones on the ''Rate''......   .00086---- .86....FT...1.68...

[SocalDinar]

I fail to understand how deleting the zeros will be good for dinar investors.  Can someone enlighten me?

 

D. Jeanne

The Central has talked about deleting the zeroes for well over 4 years now D Jeanne. I have never seen an article which says that the deletion of zeroes is off the rate but rather all I've seen speak of deleting zeroes from the currency.  Many articles are not clear, and who knows maybe they do speak of the rate. But articles are just that articles and we really should only listen to CBI officials.

Every economist has a different opinion as we all here on DV do.

 

IMO when they speak of deleting zeroes it is not a good thing and they are talking about a redenomination.  Again just my opinion and I'm just an electrical contractor and by no means an economist.  Of course we hear about conspiracy theories and sure they are fun to listen to. Who knows maybe some are true.  Who really knows what Big Banks , The Fed, The IMF and  all world Central banks really do behind closed doors. I am still in this game for this reason. Afterall the Central would never lead us to believe anything other than a RD.  That would be suicide for the Bank Right?

 

Im thinking ( Again just my opinion ) that this article is talking about getting the rate to 1000- 1 First and then deleting zeroes. This  would be far easier for all concerned if in fact they RD. This transition will make or break he Central so they must get it right.  At 1000-1 the IQD  would be equal to the USD if they delete the zeroes. But again I to do not see this as being a good thing.

 

Now the big wrench in all of this is why introduce a new 10 K note??  The problems have always been with the lower denoms such as the 250s. We have seen  many articles over the years how these lower notes are ripped and torn and in really bad shape. Anyone remember that taxi driver who will no longer accept them. So why just the 10K?  This seems a bit strange to me.

 

Still hoping for  a big win but would be happy with some cherries, Just like a big slot machine.  Put my money in and pulled the handle but those wheels just won't stop spinning

 

[zzztop]

Why bother changing/adding new three zero notes with new security features if you are going to RD?

[Calijim]

How about they just take a baby stem to try it out .0086---- .086

[Azrooster78]

I'm good with any step,....fwd!!!!

[dontlop]

Has any one ever deleted three zeros off the exchange rate to the dollar before ?

What's the exchange rate for the Iraqi dinar to the columbian peso right now?

Three zeros off the exchange rate to what ?

The euro , the Chinese yaun

Japanese yen?

Or just the exchange rate to the dollar?

What if I was sitting in Columbia looking at the exchange rate thinking there going to delete three zeros off the exchange rate and I looked at the exchange rate to the columbian peso and their aren't any zeros to delete ?

That deletion of zeros off the exchange rate doesn't make sense

[dontlop]

India is talkng about trading in Iraqi dinar

1.00 IQD = 0.0523942 INR

Iraqi Dinar ↔ Indian Rupee

1 IQD = 0.0523942 INR 1 INR = 19.0861 IQD

Where's the three zeros at

It's pegged to the dollar I realize that but I've never heard of such a thing to delete three zeros of the exchange rate to the dollar

Any one else ever heard or read about that anywhere except off dinar speculation site ?

[Dinarian64]

Astute observation - delete from currency

Release notes because they aren't moving faster than a turtle

Btw I like that the articles says raise value to neighboring country

Is that perception or actual?

Less currency higher value? Or same currency greater value? The latter is our friend, the former seems more plausible - unfortunately

[vomer]

Dallas Cowboys won a game today.  So an RV is still possible. 

[mokie775]

I agree with SocalDinar; why introduce a new $10,000 Dinar note with enhanced security features and then remove the zeros??? Maybe an RD but not a LOP...GO RV!!!

[TBomb]

Not the ones on the ''Notes'' the ones on the ''Rate''......   .00086---- .86....FT...1.68...

 

Yep, that's it.  Thanks Skeet!

the 10k notes are a stop gap measure - there's many dilapidated bills on the market.  That's all it's meant to be.  Has anyone considered that the 25K notes may be made redundant and the 10K note may take its place at the top of the currency heap, with lower denominations to follow?  We shall see, but it's not impossible.