Mailman17: More Thoughts On Iraqi Currency

[djgabrielie1]

Mailman17   WHEN IRAQ FIRST INTRODUCED THE NEW NOTES BACK IN 2003 THEY HAD 3 CATEGORIES OF COINS. 25, 50 AND 100. 

IF MEMORY SERVES ME THEY HAD A MAJOR THEFT OF THE 50, AND CUT THAT COIN PERIOD, OUT OF EXISTENCE, AND NOT MENTIONED IN THE LIST OF ACTUAL CURRENCY EITHER IN CIRCULATION OR NOT. 

LEAVING THE 25 AND 100 ON THE BOOKS BUT NOT IN CIRCULATION. 

BUT...THE MONEY ALLOCATED TO BACK THOSE 3 COINS AND THEIR VALUE... REPEAT...AND THEIR VALUE...WAS LEFT INTACT. 

DO NOT CONFUSE THE 50 DINAR COIN AND THE 50 DINAR NOTE. 

THEIR FUNDING IN THE M2 WAS SEPARATE.  WITH THE INTRODUCTION OF THE SMALLS...1,5,10,MAYBE A 20 AND FILS...

THE ONLY BACKING NEEDED IS FOR THE 20 AND DOWN...NOT EVEN PUTTING A DENT IN THE M2. 

WITH FUNDS ALREADY ALLOCATED FOR THE 3 NON CIRCULATED COINS, THEY WOULD HAVE NO PROBLEM EXCHANGING THAT VALUE FOR THE LITTLE 250 AND 500 STILL ON THE STREET...USABLE DAILY CURRENCY...ENTER THE 1-1.
 

[idplzr]

Mailman17 WHEN IRAQ FIRST INTRODUCED THE NEW NOTES BACK IN 2003 THEY HAD 3 CATEGORIES OF COINS. 25, 50 AND 100.

IF MEMORY SERVES ME THEY HAD A MAJOR THEFT OF THE 50, AND CUT THAT COIN PERIOD, OUT OF EXISTENCE, AND NOT MENTIONED IN THE LIST OF ACTUAL CURRENCY EITHER IN CIRCULATION OR NOT.

LEAVING THE 25 AND 100 ON THE BOOKS BUT NOT IN CIRCULATION.

BUT…THE MONEY ALLOCATED TO BACK THOSE 3 COINS AND THEIR VALUE… REPEAT…AND THEIR VALUE…WAS LEFT INTACT.
DO NOT CONFUSE THE 50 DINAR COIN AND THE 50 DINAR NOTE.

THEIR FUNDING IN THE M2 WAS SEPARATE. WITH THE INTRODUCTION OF THE SMALLS…1,5,10,MAYBE A 20 AND FILS…

THE ONLY BACKING NEEDED IS FOR THE 20 AND DOWN…NOT EVEN PUTTING A DENT IN THE M2.

WITH FUNDS ALREADY ALLOCATED FOR THE 3 NON CIRCULATED COINS, THEY WOULD HAVE NO PROBLEM EXCHANGING THAT VALUE FOR THE LITTLE 250 AND 500 STILL ON THE STREET…USABLE DAILY CURRENCY…ENTER THE 1-1.
~~~

Edited May 15, 2015 by Markinsa
Merged Topics

[chess]

As stated, 1:1.................................and I'll drop my paper route!

[djgabrielie1]

I already posted this earlier.

 

http://dinarvets.com/forums/index.php?/topic/202559-mailman17-more-thoughts-on-iraqi-currency/

Edited May 15, 2015 by djgabrielie1

[idplzr]

I already posted this earlier.

http://dinarvets.com/forums/index.php?/topic/202559-mailman17-more-thoughts-on-iraqi-currency/

Sorry about that, must have overlooked it.

As stated, 1:1.................................and I'll drop my paper route!

I'll drop a deuce.

[djgabrielie1]

idplzr, you go ahead and post MM's stuff. Sorry I jumped the gun. Just happened to be on that site when I saw it come in.   

[EagleEye]

1-1 and I'm done !!

[djgabrielie1]

1-1 and I'm done !!

I'm getting to the point EE that any change up or down and I'm done. Enough of this already. Even the news is boring anymore.

[umbertino]

I'm getting to the point EE that any change up or down and I'm done. Enough of this already. Even the news is boring anymore.

 Agreed DJ.