Tlar - The Smalls Are Printed Based On My Involvement And Experiences With This Investment !

[DinarThug]

CNN. Broadcasting Another Chatty Chat (Long) !

 

 

 

Kimberley      Livefree,....I didn't talk to Sam at Dinar Corp.  this morning...  But,  I talked to Anna,  who has been there a long time.....

And she said they don't sell the 50's,  and certainly would  not  be buying them back......   Now if someone talked to Sam maybe they got a different answer.....but I don't think so........

Livefree     Just goes to show how much disinfo there is out there.  People say stuff without giving any details or particulars.  I guess everyone with 50's needs to contact the dealer they bought them from.  Thanks for verifying.  I only bought it over since it was one of the mods at PD who posted it.  Just goes to show...

Phillyman     It continues to be a refreshing experience to listen to the IQD team calls.  The 50's were the first point of discussion and they called Sterling who is willing to exchange them till April 15 BUT only for their customers.  They can be exchanged for IQD or American dollars.  Their opinion it has nothing to do with an RV.
~~~

 

KJWayne     Anonymous - If Kuwait and Jordan's largest note is a 20. Why would Iraq need a 50 note?

If Iran and Syria are craving for dollars because of sanctions. They are smuggling dollars out of Iraq back to Iran and Syria. How do you get the dollars out of Iraq's hands? Iraq does not want dollars on the street.

If there are no dollars on the streets you wipe out money laundering. Anyone want to guess one way you might get those dollar out of the Iraqi's hands and using dinar?

Brule      Per a chat with Sterling on the 50 dinar note:

Chat started on 26 Feb 2015, 07:02 PM (GMT+0)

(07:02:55) Visitor 27743176 joined the chat

(07:02:55) xxxx: hi there

(07:03:04) LaJeanne joined the chat

(07:03:25) xxxx: the cbi is pulling the 50 dinar note.... are you guys going to buy it back?

(07:03:31) LaJeanne: my name is LaJeanne. How can I help you?

(07:03:45) xxxx: the cbi is pulling the 50 dinar note.... are you guys going to buy it back?

(07:05:25) xxxx: are you here?

(07:06:00) LaJeanne: Yes we will.

(07:06:18) xxxx: oh good. is there a time limit on that?

(07:08:18) xxxx and is the rate still $860?

(07:08:18) LaJeanne: You will have Two option.

OPTION 1: Exchange any “50” IQD notes purchased from Sterling on a 1:1 basis for Iraqi Dinar 5K, 10K, or 25K notes ONLY. A $20 shipping & handling charge will be assessed for each 1:1 exchange.

i.                 100 x 50 IQD notes can be exchanged for 1 x 5K IQD note

ii.                 ii. 200 x 50 IQD notes can be exchanged for 1 x 10K IQD note

iii.                iii. 500 x 50 IQD notes can be exchanged for 1 x 25K IQD note

Customers will need to submit a sell request on our website and must specify in the “Customer Notes” field of the form that they wish to exchange their notes for 5K/10K/25K denomination notes.

They must also include a $20 payment (certified funds or personal checks are OK) made payable to STERLING to cover the shipping & handling charge.

All 1:1 exchanges will be shipped to the customer via FedEx Standard Overnight.

-OR-

OPTION 2: Sell the currency back to us at our published exchange rate. Any transaction for the exchange/repurchase of “50” denomination IQD notes MUST be received in our office by April 15, 2015. We will not be exchanging/buying back “50” IQD notes after that date.

I [bondLady] just spoke to DinarInc.com about the same topic...

They will buy back 50's at a rate of $43.75 per 1000 dinar (50's). Minus $20 shipping and handling, of course

Dinarblowyourhorn    Dateline, February 2019. Post rv " hey...remember that time the CBI published the indicative rate for the IQD at .86 to the dollar. It was the actual rv. Mike and LJ said, 'this has nothing to do with the rv in our opinion'...? That was awesome!" OK Keeding

Tlar     Diane, yes it is my speculation.  I feel pretty good that the smalls are printed based on my involvement and experiences with this investment.

 Let me explain. 

In 2012, I was a member of DA and Kap and I were on the same page.  We had talked a few times on the phone and our relationship was good.

 In 2012 articles appeared saying Shabibi intended to release the smalls by September of that year which everyone took to mean that the RV would happen by that same period because he also stated it was in conjunction with the deletion of the zero program. 

Then articles came out saying Shabibi had let 2 contracts to print the currency and coins. 

One to England for bills, one to Germany for coins. 

This was after parliament had studied the designs and approved them in late 2011. 

Maliki turned the heat up on Shabibi attempting to stop him from proceeding. 

The newspapers were filled with article after article from Maliki minions stating they should not do it because of the potential for counterfeiting, which in itself was a stupid argument because the Iranian counterfeiting was rampant at the time. 

A couple of months after Shabibi had said the contracts were let, Kaperoni received an IM from a member on DA stating the guy had a son who worked at one of the branches of de la Rue. 

The son had called the father and reported to him that he had seen many pallets on the dock that were to be delivered to Iraq.  They were covered so he could not definitively say for sure if these were the smalls. 

Kaperoni called me the same day to tell me what had been reported to him.  About a day later the same member IM'd me the same information and he and I had a few conversations on this subject.

A day or two later the same member IM'd me to let me know the pallets were now gone.  Within 48 hours, an article surfaced out of Iraq stating they were shutting down the street in front of the CBI under heavy armed security as many armored trucks were making a delivery.  If Kap is honest and I think he is, he will verify this story.

de la Rue is an English company.  de la Rue prints currencies for countries all over the world. 

Shabibi stated in early 2012 that contracts had been let, one to print bills with an English company, one to mint coins with a German company. 

Admittedly no article has ever surfaced specifically stating the new bills are printed but there is proof they completed the coin manufacturing as there has been articles about this,

 If the contract that was let to print the coins is verified then I think we can assume the contract to print the bills was completed too. 

Diane, the dinar you hold now is part of the 2003 printing and was printed by de la Rue under an 80 million dollar contact by our Treasury department.

By 2012 counterfeiting by Iran was so rampant that I don't think this printing was more of the same bills printed in 2003.

 The CBI had already stated their intention to print a new currency with high security features.  The CBI had already spent well over a year trying to remove the existing 3 zero currency having started in April 2011.

  Also new designs had been approved indicating that these were different bills, not more of the same.

 In addition Shabibi had indicated in an article that he would release the smalls in September at the same time he was going to launch deletion of the zero program.  So are the smalls printed?

 I will let you decide but for my money I think they are.  Are they sitting at the banks as I write this?  I think they are.  That's the intel part of this. 

We know that the banks have the coins because the CBI held a special auction for those banks that are going to be involved foreign currency exchange. 

USD is a foreign currency to Iraq  and it is what they will be buying once the deletion of the zero program goes into force 

So to me it is logical to think that if these banks have the fils (coins), the cat is already out of the bag. 

So as far as these banks are concerned, they already know what's going on so why not let them have the bills too?  Hope this helps.  tlar

DreamWeaver     Tlar, if I'm remembering articles correctly.  Small denoms were printed in late 2011.  In 2012 Shabibi turned around and had these small denoms reprinted.

 Reason for reprinting the small denoms, as I understand it, was that new law stipulated that all currency must contain the 3 languanges and Shabibi wanted to make sure new small denoms were compliant and all ready to go for release in September 2012.

I'm taking it on faith these new small denoms were reprinted and are sitting somewhere ready for release--though everyone needs to make up their own mind.  After all, it's all conjecture as we've never actually seen photos of the new small denoms.

We do know that some bills were reprinted recently (10,000 note) as we have seen photos of those. 

Also, Iraq's pattern is to announce that they need to reprint the currency sometime down the road when--a short time later--we learn that the bills were most likely already printed when the articles first came out. 

That's Iraq's pattern.  Talk about something as though it is a long way off in the future, when it is already done   OR  talk about things as though they're already done and never get around to implementing them.

 It is dang confusing.  Definitely a "do as I say not as I do" country.     Anyways, that's my take on those old articles.  Best ~ DW. 

Tlar   DW, you have a good memory.  In November of 2010 Shabibi announced that he would re-print the smalls based on a request from the Kurds that they have their lanquage also represented on the money as they felt they were an important part of Iraqi society.  

Originally I though this is why they did not redenominate in 2010 but thought it was just a hold up until these notes (the 3 language notes) were reprinted.  

In honor of that request Shabibi put everything on hold and then submitted requests for new designs of the bills with the three languages.  Once in they were then submitted in 2011 to parliament and as you can imagine parliament took their sweet time before they actually approved the designs in late 2011. 

 In early 2012 Shabibi announced that they would be released in September of the same year.  

There have been not 2 but rather 3 printings of the smalls.  The first was in 2003. 

 In 2006 at a strategic meeting the CBI held it was mentioned that 14 different bills had been printed in 2003.  At the time the same bills we see today were the only bills released.  

The 50, 250, 500, 1000, 5000, 10000, and 25000.   

That left 7 unaccounted for bills that had not been released.  I figured it was the 1, 5, 10, 20, 100 and 2 fil notes, the 250 fil and the 500 fil.  

Since the 50 was already released in 2003 that left only the bills I described as unreleased. 

It was also in June of 2006 that parliament voted on and had decided to use the "1000 fils equals 1 dinar system" rather than "100 dinars equals one dinar system". 

 This to me meant that as far back as 2006 they were thinking about the dinar being a valuable currency.  

Somewhere around 2008-2009 Iran started chronically counterfeiting Iraq's currency starting with the 10,000 dinar note. They did this because they needed hard currency because off the sanctions.   

The US reported to the Maliki government that this was going on but they did not do anything about it nor did they ever make an arrest of any organization related to Iran.  

I surmised at the time this was intentional to the point Maliki was either supportive of the Iranian counterfeiting and part of it, or at the very least he was protecting them and turning a blind eye to it.  

Maliki was the head of the internal security, police etc so he could easily have stopped any investigation that might lead back to Iran.    

We know that as Smart as Shabibi is he would have attempted to secure the currency so it is not far-fetched to assume in 2008-2009 he would have already printed the second printing of the smalls (the 2 language notes), especially considering his intention to release them in 2010.

In 2012 we know Shabibi let contracts to re-print the smalls again..  

So if you figure 2003 the initial printing then printed the smalls, and in 2008-2009 he printed the 2 language notes with security features, and again in 2012 he let new contracts for the 3 language notes, that's a total of 3 printings without release.  Lets hope three times is a charm.  tlar  

DreamWeaver    Thanks, Tlar, for clarifying.  Good stuff.  Wasn't in investment in 2012, so only going from memory reading articles in forums and old posts, including the one about someone seeing the pallets, which I accepted as probably true.   

After reading your post, I'm perplexed as to why they are pulling the 50s -- no longer legal tender -- UNLESS the new small denoms to be released at RV are:  1, 5, 10, 20, and 50   (instead of 100). 

So now it makes sense that they would announce 50 notes will no longer be legal tender after April 30th.

  Why?  Because they will be releasing NEW 50s and they don't want any issue in the future with having to differentiate between counterfeited old 50s and newer notes more secure--especially since Iran could be up and printing counterfeited 50s in no time and pumping them into the marketplace.  

Remember, they told us that old denoms and new will run concurrently for several years.  This way, they neutralize threat of counterfeited 50s completely.  

As it is, Iraqis will have to go into the banks to exchange; and these banks have the new de la rue machines as well as trained staff to spot counterfeited bills.  

Also, post RV, those 250, 500, 1,000, 5,000, 10,000 and 25,000 notes will be worth too much for most merchants to exchange so most citizens will be going into the bank to either deposit them into their bank accounts or exchanging them for new, more secure dinar denominations.  

So the bulk of all denoms circulating in Iraq, post RV--to run concurrent with new bills released--will be making their way into banks, past trained staff and de la rue machines. 

So, Tlar, I'm thinking that  IF  they have decided to RV over $3, as you believe--and which seems to be possible from Flyboy's recent posting as far as words of ex-Governor--then why would they issue a 100 dinar note?  

That 100 dinar note would be worth around $300, which seems way too high.  No need for any denom higher than a 50, as that would be worth around $150--higher than highest US denomination of  $100.  

It makes perfect sense that they would be giving Iraqis 60 days to exchange these 50s for electronic dinar OR to give them the equivalent in other denominations.  

IMO this is a very strategic move by CBI in preparation of releasing new small denoms (1, 5, 10, 20, 50).  It not only neutralizes the threat of Iran counterfeiting concurrently circulating 50s (old and new)-- but it also to get those reluctant Iraqi citizens to set up bank accounts.  Why?   

Banks don't have enough alternative denominations available to accommodate Iraqis turning in their 50s.  

So when people come in to exchange their 50s for other denoms, the bank will simply tell them they are "sold out" of the alternative denoms and only way for them to get credit for every last "penny" they are turning in is to set up bank accounts so electronic dinar can be credited.   

Who isn't going to want every last cent coming to them?  (Even those of us that may have 100 of those 50 dinar notes, worth only about $4 USD, will be returning them to dealers before April 15th, as post RV they may be worth as much as $15,000.)     

How does this theory hit you, Tlar, and everyone?   In my mind it makes perfect  "cents" (LOL) they would be bringing out a new 50 dinar note instead of the 100 they originally printed. 

 If Shabibi's plan was still in effect, as far as delete the zeros staging at around $.86-$1.00, keeping those 100s makes sense.  

But, IMO, there is validation to thought that things have changed and they are planning to RV over $3.  Why do I believe this?  

Because of their recent move to make currently circulating 50 dinar notes illegal tender.  Why do this if they aren't planning to bring out new 50s--and those new 50s will replace the planned 100s. 

Anyway, that's my logic, though open mind to all other theories.  Until then, I'll be hanging around, down here in the rabbit hole, waiting for an RV so I can get the heck out of here and go topside.  LOL.  

Tlar, appreciate all you bring to this site and the dinar community.  Love exchanging thoughts with you and look forward to all of this being in the rear view mirror.  For today, I am really, really optimistic we're well on our way to seeing this RV in the next few days, weeks, or months.  Best to all ~ DW

HandOverFist     Just to confirm, I remember the printing/reprinting of the smalls just as Tlar, DreamWeaver and Brule posted.

[bigwave]

"UNLESS the new small denoms to be released at RV are:  1, 5, 10, 20, and 50"
 

Is there any links that have suggested that the above is true?

 

Anybody?

[sandfly]

OK CLOWN UUURRRRR UP

[DinarThug]

WHAT'S EUROPE GOT TO DO WITH IT ?

[justchecking123]

Ponderous.:-/

[DinarThug]

Here's Some Additional Chat ...

 

 

 

Oldwazhisname  DW, What you speculate on as to the motive and how it might work makes great sense. In fact, of all of the theories/reasons bantered about since yesterday, your's is proabably the most reasonable. 

It could be as simple as they don't wan't/need the 50's because no change is in the works or something like this, which fits handin-glove with what we expect/hope. Thanks for your thoughts.

DreamWeaver   Oldwazhisname, meant to thank you for all your comments of late, but I've been unable to connect easily to internet until late yesterday because of ice storms.    So ... late than never ... thank you for all your posts regarding why CBI may be doing new mechanism, etc.  Appreciate your posts.

I went to bed last night, posing the question to my higher conscious mind, "what in the heck is the CBI up to with these 50 notes being illegal tender?"  LOL.  

Upon awakening, these are the thoughts I had in that regard--which really makes sense to me.  Tonight I plan to pose the question, "just when are they going to RV the Iraqi dinar?"  Will keep you posted as to the answer.     Best thoughts ~ DW
~~~

 

Rockstar     Thanks Tlar and DW for the continued discussion down memory lane, it definitely makes total sense to me why they are doing this and I sure hope our reasoning is correct!

Oldwazhisname   DW, That's one post I will definitely look forward to!

Slb     Listen to the first 5 minutes of the most recent video for his take on this issue.

*** removed link | See Forum Rules ***

Mcduff82   Cannot wait. Thanks Tlar DW and Oldswazhisname

gsjr        I am now nervous about my dinar being possibly counterfeit. My first batch of dinar was through a broker and delivered to Wells Fargo Bank. My next batches were bought through Ironstone Bank.

Some look uncirculated and some look well used. Is there a bank anywhere in Texas that has a de le rue machine that I could run my dinar through to check them?

sweed61  Thanks slb.   It sounds like Breitling is now in the float and gradual rise camp.

hi-five      Gene!!  Nice to see you!   Because you bought your dinar through a bank, I assume you are in possession of the real dinar.   If you had purchased from ebay, for example, then I would be more concerned.

If you are really worried about it, you could call a major bank - - Wells Fargo, Chase or BOA, and ask if they have a machine, and if so, could you run some currency through to see if it's legit?

HandOverFist     I believe Tlar is right about lower denoms being 1, 5, 10, 20 and 100. I remember reading this in an article, some time ago.

Oldwazhisname    HOF, I'm thinking if we can get confirmation that the 50 IQD was not in sequence for the lower denoms, we may indeed be closer than not. Once the 50 is out of play, it could happen about then. Can anyone definitely confirm that there was never a 50 IQD in the intended roll-out?

Vision    I have been around long enough to remember not that it matters reading all the art. Back when shabibi / Selah were putting out a lot of info the new nots were supposed to be of some type of Mylar for durability... Here's hoping

Diane     Wow... thanks for the time put into all these replies.  I do remember the Kurds insisting the new bills come out including their language & the redesigning due to that requirement.  I believe my 25K notes have all three languages on them.

As to DW assessment: I think that within Iraq, the three zero  notes will be exchanged as if it's a lop.  The 5K will equal 5 dinars, the 10K will equal 10 dinars & the 25K will spend as 25 dinars.  But due to new pricing, they will have more buying power.  An Iraq citizen will not suddenly be rich.

Tlar,  In order to keep my feet on the ground, I need to "see" the new LD's... hearing it from someone who heard it from someone else, just isn't enough for me to trust they are truly printed & out there ready for use. 

In this day of instant electronic communications, there would be a picture of those bills floating around somewhere.  Pallets & pallets??  Seeing is believing... & I haven't seen them. 

It has nothing to do with your veracity... you are a smart, thinking  man who is trying to make sense out of something that none of us knows for sure. 

I've been in this long enough to have heard most everything at least twice... & much was concocted out of someone's desire for the RV to be right around the corner. 

 However, I've been fooled more than once, been on that damnable roller coaster, & have chosen to get off.   Once again... thanks to all who replied.

GSJR    Thanks Hi-Five !!!!  It is so nice to have friends I can get answers from.  I am leary of the broker my friend used for my first batch. Now to go de le rue shopping.

DreamWeaver    If things have changed since 2012, insofar as they may be doing a higher RV, it only makes sense to me that what they are doing by making current 50 notes in circulation illegal tender is because CBI intends to roll out new 50s with rest of lower denoms when the RV.

 Though they may still include a 100 dinar note, I won't be surprised to see that one missing when new lower denoms are introduced, as it would be over $300 with a $3+ RV.

We will not really know any of this until they do it, as all is speculation, but at least I've put my own mind at ease while simultaneously amping up my excitement as far as them definitely taking steps involved in pending RV.

What I don't want to see are any more announcements that additional dinar notes will be illegal tender after a certain date.  That may make me push the panic button in this investment for the first time.  Not expecting it to happen, but it would definitely not be easily rectified in my mind.

HandOverFist   Good thought, Waz. I'm not at home and posting from my cell phone so I'm unable to check for back articles myself.

Tlar     Don't get confused in the sequence of printings.  It has no bearing on what they are doing today  The last printing in 2012 was all the notes including the new 3 language 50. 

You know it occurred to me that if Iran knows of this plan to drastically change the value of the dinar and I'm sure they do because of their close association with the Maliki government, Iran may have already printed millions of the present 50 dinar notes thinking they could quickly sell these in Iraq for US dollars in the days following Iraq changing the value of their currency. 

The CBI may just be trying to stay one step ahead of the sewer of a state (Iran) having either heard something or thought about this possibility on their own.

 Either way removing the existing easy to counterfeit 50 in advance of an RV is the prudent, cautionary, smart thing to do.  Like I said before, I have no idea if this slows down or puts anything on hold until this is done.  Tlar

DreamWeaver   Diane, I don't agree with your thoughts that Iraqis will exchange 5,000 notes for 5 dinars.  That's a LOP.  Iraqis will be able to deposit their 5,000 dinar notes and get credit for 5,000 dinars in their bank accounts.  Remember, a dinar is a dinar--so in country this RV will only INCREASE purchasing power. ‘

 If our US dollar were to increase, overnight, in value to $1 = $3,000 as far as  exchange rate, we would see no difference.  We couldn't go into a bank and hand them a $1 bill expecting $3,000 dollars returned. 

Just doesn't work that way.  Took me a while to get my head around it and admit it might not be fully grasping all aspects of the concept, but I have finally understood that Iraqis won't be turned into "millionaires" overnight though some holding physical dinar will reaps some benefits in purchasing power.  Best ~ DW

Diane   I didn't include the deleting of the three zeroes in my last post.  That has been in so many articles, I don't doubt that it is a possible scenario that is on the table.

 As I'm thinking about how it might affect the Iraqis in country, I'm also wondering how it will affect those of us holding on tightly to our own dinars with high hopes of an RV that will change our lifestyles.

 Say an RV comes out at 1:1.... am I really going to get paid $25,000 in exchange for my 25K dinar note? 

Or going even further.... at 3:1, will I get $75,000 for it?  That is an event that is "too good to be true"... & we all know what our mothers/fathers told us about those!   Staying hopeful with both feet planted firmly on the ground.

Tlar     Logically speaking Diane, if the scenario you presented of 5000 swapping for 5 in Iraq were to occur while the rest of the world sees an increase in value for the dinars they hold, there would be another even greater smuggling operation created than what we have already seen in Iraq as Iraqi's would try to get all there dinars accross the border.  A currency is a currency.

 They either LOP everyone everywhere, or whoever holds the currency both inside and out of Iraq will see their currency increased.  You can't lop inside the border while RVing outside the country. 

A dinar is a dinar.  What determines its value is the exchange rate.  When they change the rate, every paper dinar will have that new rate everywhere.  Hope this helps. tlar

DreamWeaver     I'm not going to assume that their plan, back in 2012, is still the same as far as rolling out lower denoms of:  1, 5, 10, 20 and 100.

If the plan has changed as far as RV value changing from $.86 to over $3, it's logical for me to assume that the denoms may have also changed to:  1, 5, 10, 20, 50 and possibly a 100.

I absolutely do not believe that this measure to make 50 notes illegal tender is just to prevent Iran from benefiting as I defintely see this as part of CBI's plan to introduce a new, counterfeit-proof 50 dinar note as part of small denoms and RV. 

If I were to only see CBI taking this measure as part of thwarting Iran's counterfeiting, I would be concerned as it may mean they would eventually force Iraqis into bank to exchange their 250 and 500 dinar notes for electronic dinar, etc--also making them illegal tender after 60 days. 

Why stop their?  Why not have Iraqis come into the banks to exchange their 1,000, 5,000, 10,000, and 25,000 notes the same way?

No.  I'm going to have to assume this step by the CBI has been taken in direct preparation of RV and rolling out new lower denoms, including new 50 dinar note--while also thwarting Iran's counterfeting schemes--otherwise, there aren't enough panic buttons on my desk to push. 

JMO and my thoughts.  Not expecting to push any panic buttons as I see this as connected as part of delete the zeros program and indication of forthcoming RV.     

Amargiot   LINK 

 Experts: 50 dinars born "dead" .. and canceled due to fraud and the deletion of zeros

  Range / Amer Mohi      A source in the CBI revealed that the bank has decided to withdraw the currency of 50 dinars from circulation category because of fraud and conflict with other categories when deleting zeros from the currency, and while experts confirmed that the abolition of the small category guide to take prices upward trend, said the 50 dinars born "dead" because they are too small and can not be accepted compared to other groups.

  The Central Bank of Iraq, the day before yesterday, the currency was withdrawn from the category of 50 dinars from circulation due to "low value and stop the audience from the circulation," according to a statement of the bank.

 A source in the CBI told the "term" that "the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last,"

noting that "the central decided to cancel the deal with 50 dinars category formally instructed banks government and private bring this group to the bank in order to burn them. "

 The source, who declined to be named, said "the Bank issued a decision not to deal with a class of 50 because of a major fraud after reprinted in 2003",

adding that "the citizen is no longer handles this category because of the small cluster of cash for this currency, and because the cheapest thing in the market to be sold for 250 dinars for it canceled the same. "

 He pointed out that "the citizen who owns a coin 50 dinars category can replace it in the bank within a specific number, it is impossible to bring people billions of dinars in this category are demanding to replace them because they certainly false."

 For his part, said an expert on economic affairs Maytham Laibi "long" that "the decision to cancel the coin 50 dinars very painful, because it shows that the presence of an upward trend of prices, so that Tfariv currency has become not used in daily use,"

 noting that "after ten years of the 50 dinars coin presence and lack of circulation dramatically means that the Iraqi market tended to handle large groups rather than to deal with small groups, indicating the money supply expanded significantly. "

 Laibi and pointed out that "most of the countries of the world do not put such a condition when you drag the currency market, but they can be non-acceptance of the currency in circulation at the same time be accepted in the banking system, especially as the term is too short, which is up to two months only,"

but he also said "The decision can not be considered wrong in its entirety, because it has become a reality if the result of the use of this currency, and to identify specific timeframe for ending the deal in this category is the only weak point in the resolution."

 In turn, said economist Ahmed Sabih told the "term" that "this group of Iraqi currency issued in the light of expectations down price levels to be smaller class can be traded among the public,"

 noting that "the category of 50 dinars stillborn because it is very small Currency and can not be accepted in circulation compared to other groups that make up some of the complications. "

 He Sabih saying that "the 50 dinars as long as calculated on the Iraqi currency bloc, it is better to replace the category of other more acceptable as a class 250 dinars, which represents smaller currency accepted by the public in circulation",

adding that "this decision administrative true and does not reflect any economic effects is carried at liquidity or a reflection of the state of inflation, but it is a good procedure followed by many banks to get rid of the categories is acceptable in circulation. "

The bank said in a statement received "long", a copy of which, the day before yesterday, that "due to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004".

 The statement added that "banks and branches will begin to replace these banknotes presented to it without fees or commission," he said, adding that "banks will be deposited at the bank and its branches for the purpose of being the equivalent value in the accounts we have."

 Bank pointed out that "the term that will replace these banknotes will begin on the first of March to 30 of April next," noting, "Once the replacement period banknote will be null and void and will not be accepted in Iraq."

 The 50 dinars category smaller paper currency from within the paper categories, which also include 250 dinars and 500 dinars and a thousand dinars and 5 thousand dinars and 10 thousand dinars and 25 thousand dinars. Iraq issued a new currency in 2003 in the wake of dropping the former regime.

Rockstar              Diane also you will never see any of the lower denom notes until after the RV. If they actually showed them it would give everyone a heads up a huge change in value is getting ready to happen! Just by what they are doing now with this 50 note is showing you what they are doing because they cannot hide everything. This is part of the process they have to do before increasing the value in my opinion for what it's worth. Amargiot that is an awesome awesome article thanks for posting!!!

Edited February 28, 2015 by Markinsa

[stealthwarrior]

If Iraq reprints their currency then the notes we hold will be worthless.I know nobody wants to hear this but it is a fact.check out all the other countries who have reprinted currency and declared everything before the reprint to be worthless.

[DinarThug]

Here's More ...

 

 

 

Tlar & Members Discussing Iraqi 50 Dinar Note Being  Canceled 


G-Lin    02/27/2015    Experts: 50 dinars born "dead" .. and canceled due to fraud and the deletion of zeros Experts: 50 dinars born "dead" .. and canceled due to fraud and the deletion of zeros

  A source in the CBI revealed that the bank has decided to withdraw the currency of 50 dinars from circulation category because of fraud and conflict with other categories when deleting zeros from the currency, 

and while experts confirmed that the abolition of the small category guide to take prices upward trend, said the 50 dinars born "dead" because they are too small and can not be accepted compared to other groups

The Central Bank of Iraq, the day before yesterday, the currency was withdrawn from the category of 50 dinars from circulation due to "low value and stop the audience from the circulation," according to a statement of the bank. 

A source in the CBI told the "term" that "the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last," noting that "the central decided to cancel the deal with 50 dinars category formally instructed banks government and private bring this group to the bank in order to burn them. "
~~~

 

The source, who declined to be named, said "the Bank issued a decision not to deal with a class of 50 because of a major fraud after reprinted in 2003", adding that "the citizen is no longer handles this category because of the small cluster of cash for this currency, and because the cheapest thing in the market to be sold for 250 dinars for it canceled the same. 

He pointed out that "the citizen who owns a coin 50 dinars category can replace it in the bank within a specific number, it is impossible to bring people billions of dinars in this category are demanding to replace them because they certainly false."

For his part, said an expert on economic affairs Maytham Laibi "long" that "the decision to cancel the coin 50 dinars very painful, because it shows that the presence of an upward trend of prices, so that Tfariv currency has become not used in daily use,"

noting that "after ten years of the 50 dinars coin presence and lack of circulation dramatically means that the Iraqi market tended to handle large groups rather than to deal with small groups, indicating the money supply expanded significantly. "

Laibi and pointed out that "most of the countries of the world do not put such a condition when you drag the currency market, but they can be non-acceptance of the currency in circulation at the same time be accepted in the banking system, especially as the term is too short, which is up to two months only,"

but he also said "The decision can not be considered wrong in its entirety, because it has become a reality if the result of the use of this currency, and to identify specific timeframe for ending the deal in this category is the only weak point in the resolution."

In turn, said economist Ahmed Sabih told the "term" that "this group of Iraqi currency issued in the light of expectations down price levels to be smaller class can be traded among the public,"

noting that "the category of 50 dinars stillborn because it is very small Currency and can not be accepted in circulation compared to other groups that make up some of the complications. "

He Sabih saying that "the 50 dinars as long as calculated on the Iraqi currency bloc, it is better to replace the category of other more acceptable as a class 250 dinars, which represents smaller currency accepted by the public in circulation",

adding that "this decision administrative true and does not reflect any economic effects is carried at liquidity or a reflection of the state of inflation, but it is a good procedure followed by many banks to get rid of the categories is acceptable in circulation. "

The bank said in a statement received "long", a copy of which, the day before yesterday, that "due to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004".

The statement added that "banks and branches will begin to replace these banknotes presented to it without fees or commission," he said, adding that "banks will be deposited at the bank and its branches for the purpose of being the equivalent value in the accounts we have."

Bank pointed out that "the term that will replace these banknotes will begin on the first of March to 30 of April next," noting, "Once the replacement period banknote will be null and void and will not be accepted in Iraq."

The 50 dinars category smaller paper currency from within the paper categories, which also include 250 dinars and 500 dinars and a thousand dinars and 5 thousand dinars and 10 thousand dinars and 25 thousand dinars. Iraq issued a new currency in 2003 in the wake of dropping the former regime.  LINK


D42     I like that they state that this has to do with the removal of the zeros..."in case of deletion of zeros

G-Lin     Yes me too D42. And deletion of 0's from 500. So would 500 become the new 50 or 5?

Schiz      so in other words, they are removing the 50 because when they delete the zero's it will have a negative impact on that value and be unuseable

This is all part of the plan folks. Man i'm batting well at the moment, or possibly fluking it

G-lin, prob 0.50 dinars (50 pence) its 3 zeros they are removing dont forget

Schiz     I expect them to remove the 250 notes too this same way just for accounting purposes, because removing the zero's makes it minus value too. everything else is ok imo,

Schiz    Oh I dunno, my math is terrible. I go corss eyes when trying to deal with numbers. Am numerically dyslexic

G-Lin    Schiz  Hey buddy. I don't know. I thought this was saying a lot. Not sure what. 

"the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last,"

Sounds like they plan on removing some 0's from the 500., What do you think?

HandOverFist     Delete the zeros from 500? That's what it says. How can they do that and what will it mean to us?

Diane     HandOverFist, Another question without an answer.... they certainly keep our gray matter active.

Lotus     No worries and thank you for beginning the thread, G-Lin. It is an incredble article.

Schiz    HOF the only thing that says to me is they are going to give their currency some value deleting the zeros without a huge rate increase is totally pointless as the citizens still wont use the notes as they are still worthless.

I think we are watching this slowly unfold, this isn't a bam moment. Eventually, hopefully in the coming minutes they will get to the good part 

I think we are watching the process of the revaluing of the iraqi dinar.

Schiz    For them to even mention they are in the process of removing the zero's by removing the 50's is HUGE news and i'm really surprised im not streaking down the road in some old y fronts right now.

By all accounts it seems we are watching currency reform unfold. No BAM cos this is iraq and they don't do bam. We watching the RV in slow mo.....I'll be damned if this isn't us watching the end of our journey.

Rockstar    Absolutely agree with you Schiz! They can't tell us hey we are going to RV our currency on this date at this rate, however they have to accomplish a couple of huge items prior to increasing the value and they cannot hide it from us! The ball has really picked up speed, it went over the bump already and is now heading downhill....yeah!!!

Aloha Alex    Wow Schiz, whatever your on I'll have two!

Schiz   I could do without having these types of exciting thoughts right before I go to bed! 

Rockstar    If you think you are going to have trouble sleeping now than wait til after the RV...lol

Schiz    Rockstar    Hopefully we are all going to have a fantastic summer 

Schiz     WOW don't know how I missed this gold nugget in that article....

"confirmed that the abolition of the small category guide to take prices upward trend"

HandOverFist     Thanks, Schiz.  Where does this leave people with 250's and 500's dinars? A relative bought a boatload of these thinking they would be used in Iraq after RV. He's really upset about the 50's and worried about the 250 and 500.

Schiz    I think the 500's will be left as they are but i got a feelin the 250's are gunna go next............but this is just me guessing.

It sucks they are doing it this way but i don't mind losing a few 50's to be able to cash in those 25,000's

Man could your friend take those 50's into a bank or dinar dealer and change them out for larger notes?

Tlar     Everybody is putting too much stock in this article.  They are removing the 50 from circulation.  Present bill is vulnerable to counterfeiting pure and simple if they raise the value of their currency.

  Replacement has already been made for all other bills in circulation except the 50.  Most of the current 50  notes will just disappear and become useless in Iraq because the value is so low most Iraqi's won't bother to take them to the bank. 

If an Iraq had 8 of these 50 dinar notes, he would be holding a total of approximately 40 cents.  Hardly worth going anywhere to deposit. 

If the US government did this exact same thing with the penny, how many of you would rush to the bank to deposit the 20 pennies you have?  

So the important part of this information is not what they are doing, but rather that they have set a date where the current 50 will no longer be in circulation in Iraq (60 days starting March 1st.)  It will no longer be vulnerable to counterfeiting. 

They are saying the current 50 will not be used in commerce after 60 days, but you can still take it to the bank.(but they can be non-acceptance of the currency in circulation at the same time be accepted in the banking system,).

Nobody will confuse the 50, with the 500.  They have different values and different looks both before and after an RV.  Whoever wrote this article did a bad job pure and simple when they wrote this.

 They either did not understand or they were told a crock of crap and just repeated it. 

The statement makes no sense.   "the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last," noting that "the central decided to cancel the deal with 50 dinars category formally instructed banks government and private bring this group to the bank in order to burn them. "

 I think we can be very thankful that this is happening now.  The currency will be 100% protected by April 30th  for the first time since 2003 removing that as an excuse not to do it now by government employees still loyal to numb ***..  tlar 

rDiddy    Tlar - do you think that the article is hinting that the RV is at least 60 days away, or do you think the removal of the 50 note has no bearing on timing?  -mrs rd

Rockstar    I agree with you Tlar especially on the important thing of the date in which these have to be exchanged which is April 30th.

This also tells me we will not see any possible RV until at least that date which is another 60 days! My guess is they have fully looked at all possible scenarios ahead of time and one of them being the ISIS problem and liberating Mosul before April 30th and dealing with Maliki as the other...want to bet?.

.lol... Although I won't do it in the lower denoms..lol as you did with Kap a few years ago! That had to put a smile on your face, I know it did mine when I heard it..lol

HandOverFist     Thanks Schiz and Tlar. He can't return his 50's as he bought them on EBay and from what we understand, Sterling Currency is only buying from previous customers. He thought he was saving money by buying on EBay. So glad I bought mine from Sterling and only 000 notes.

HandOverFist     I agree with you, Rockstar. They are waiting to get rid of Daash and Maliki. They're planning to be rid of them by April 30th. JMO

Flyboy    Thanks Tlar...Rockstar...I have a different take on when they will restructure the dinar...they have created so much smoke over the years...and it continues today... As with the Swiss, it could be tonight, tomorrow, or next year...

However, I just don't think they have come this far to stop now...Abadi needs it to happen now. But...60days is a walk in the park...just sayin Thanks

KJWayne   Central Bank of Iraq (Press Release)  February 27, 2015 Walter    Central Bank of Iraq

“(Press release ) due to stop the public from trading cash paper category ( 50 ) dinars”

02/25/2015    Translation of the .pdf document within the press release here:

http://cbi.iq/documents/press%20for%2025-2-2015.pdf

M / statement issued by the Central Bank of Iraq

Due to stop the public from trading cash paper category (50) Dinara According to the authority vested in Article (36) of the Iraqi Central Bank Law No. (56) for the year 2004 it was decided as follows:

1 – to withdraw cash from the paper category (50) dinars from circulation.

2 – on the banks and their branches replace banknotes presented to it without a fee or commission, and the banks deposit with the central bank and its branches for the purpose of being the equivalent value in our calculations.

3 – The duration of the replacement category above two months starting from 03/01/2015 up to 04/30/2015.

4 – After the replacement for the banknote become null and void and has no legal tender and will not be accepted in the Republic of Iraq.

CBI   Baghdad    02/25/2015

Aloha Alex     HandOverFist  He might be able to become a customer by buying more dinar from them now...worth a shot, I don't think they will refuse business.

Tlar       mrs rd, at this point almost anybodies guess is as good as anybody elses.  I honestly do not understand why they haven't done it already.  tlar

HandOverFist     Great idea! Thanks Alex. I'll suggest it to him  

Aloha Alex    Rockstar, I understand the new April 30th date you mention, but it would seem like the GOI is broadcasting a secret to everyone...not sure they're gonna do that.

 I'm thinking there will be a float from 1166 prior to that date, or nothing til after that date; can't rv prior to that date since it will give the 50's an increased value. Like everyone everywhere, I could be wrong.

jackbauer32960     Another way to look at this, is the value of those notes destroyed has to go somewhere...right?    It also lowers the note count at the same time

Pjsllc   Rockstar    Right, how can anything change prior to April 30th?  Not going to happen as long as the $.04/50 IQD are all collected, or void.   That said,  must be some reason for a deadline.  Or why bother?

Preacher Man   Experts: 50 dinars born "dead" .. and canceled due to fraud and the deletion of zeros

 27/2/2015    Range / Amer Mohi

A source in the CBI revealed that the bank has decided to withdraw the currency of 50 dinars from circulation category because of fraud and conflict with other categories when deleting zeros from the currency, 

and while experts confirmed that the abolition of the small category guide to take prices upward trend, said the 50 dinars born "dead" because they are too small and can not be accepted compared to other groups.

The Central Bank of Iraq, the day before yesterday, the currency was withdrawn from the category of 50 dinars from circulation due to "low value and stop the audience from the circulation," according to a statement of the bank. 

A source in the CBI told the "term" that "the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last," 

noting that "the central decided to cancel the deal with 50 dinars category formally instructed banks government and private bring this group to the bank in order to burn them. "

The source, who declined to be named, said "the Bank issued a decision not to deal with a class of 50 because of a major fraud after reprinted in 2003", 

adding that "the citizen is no longer handles this category because of the small cluster of cash for this currency, and because the cheapest thing in the market to be sold for 250 dinars for it canceled the same. "

He pointed out that "the citizen who owns a coin 50 dinars category can replace it in the bank within a specific number, it is impossible to bring people billions of dinars in this category are demanding to replace them because they certainly false."

For his part, said an expert on economic affairs Maytham Laibi "long" that "the decision to cancel the coin 50 dinars very painful, because it shows that the presence of an upward trend of prices, so that Tfariv currency has become not used in daily use," 

noting that "after ten years of the 50 dinars coin presence and lack of circulation dramatically means that the Iraqi market tended to handle large groups rather than to deal with small groups, indicating the money supply expanded significantly. "

Laibi and pointed out that "most of the countries of the world do not put such a condition when you drag the currency market, but they can be non-acceptance of the currency in circulation at the same time be accepted in the banking system, especially as the term is too short, which is up to two months only,"

 but he also said "The decision can not be considered wrong in its entirety, because it has become a reality if the result of the use of this currency, and to identify specific timeframe for ending the deal in this category is the only weak point in the resolution."

In turn, said economist Ahmed Sabih told the "term" that "this group of Iraqi currency issued in the light of expectations down price levels to be smaller class can be traded among the public," noting that "the category of 50 dinars stillborn because it is very small Currency and can not be accepted in circulation compared to other groups that make up some of the complications. "

He Sabih saying that "the 50 dinars as long as calculated on the Iraqi currency bloc, it is better to replace the category of other more acceptable as a class 250 dinars, which represents smaller currency accepted by the public in circulation", 

adding that "this decision administrative true and does not reflect any economic effects is carried at liquidity or a reflection of the state of inflation, but it is a good procedure followed by many banks to get rid of the categories is acceptable in circulation. "

 The bank said in a statement received "long", a copy of which, the day before yesterday, that "due to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004".

The statement added that "banks and branches will begin to replace these banknotes presented to it without fees or commission," he said, adding that "banks will be deposited at the bank and its branches for the purpose of being the equivalent value in the accounts we have."

Bank pointed out that "the term that will replace these banknotes will begin on the first of March to 30 of April next," noting, "Once the replacement period banknote will be null and void and will not be accepted in Iraq."

The 50 dinars category smaller paper currency from within the paper categories, which also include 250 dinars and 500 dinars and a thousand dinars and 5 thousand dinars and 10 thousand dinars and 25 thousand dinars. Iraq issued a new currency in 2003 in the wake of dropping the former regime.   LINK


Preacher Man     Bank pointed out that "the term that will replace these banknotes will begin on the first of March to 30 of April next," noting, 

"Once the replacement period banknote will be null and void and will not be accepted in Iraq."

The 50 dinars category smaller paper currency from within the paper categories, which also include 250 dinars and 500 dinars and a thousand dinars and 5 thousand dinars and 10 thousand dinars and 25 thousand dinars. Iraq issued a new currency in 2003 in the wake of dropping the former regime.

Rockstar    Great discussion and I do not believe they will do anything with the currency value until after April 30th at this point, just my opinion. 

They will want to get all these notes off the street first and lastly I do not believe they will float this currency period. It will be a managed float IMO from all the research I have ever done. 

There is no reason to do so many things that they have done if they were just going to float the currency. 

It a huge complicated process but in no way are the gurus correct on this, they will make the full adjustment and do a managed float. 

They may start at the $1.17 rate first and then eventually wind up higher in the $3+ range or just go straight there but in no circumstance do I see them just free floating the currency period IMO. 

I could be wrong whatever but I have been in this too long and read and researched all the reasons why and that's my informed opinion.