Stability of the exchange rate of the Iraqi dinar and some currencies at closing

[Laid Back]

37 minutes ago, js214 said:

Definitely agree with you there.Fingers crossed and in the words of John Lennon- Let it be

Let it be this year

6 minutes ago, ChuckFinley said:

For sure LB. Feeling good as to where we are right now.  

Exciting times ahead my friend.

GoRV

Go 2018

Go $1:1

[ChuckFinley]

For sure -  ⛱️🏝️

[Wiljor]

2 hours ago, Laid Back said:

Ask yourself this question, why so many banks from different countries want to open branches in Iraq ?

 

I will tell you why.... Follow the bankers..... Follow the money.... They know what is coming..... MONEY💰💰💰

 

Go CBI 

Go NMP

Go RV

Go $1:1

 

 

 

 

You are correct brother Laid Back, big things are on the horizon for Iraq, i believe things will begin to pick up after Abadi is re elected. 

In the meantime we patiently wait  

[NEPatriotsFan1]

38 minutes ago, Wiljor said:

You are correct brother Laid Back, big things are on the horizon for Iraq, i believe things will begin to pick up after Abadi is re elected. 

In the meantime we patiently wait  

I hope so, Wiljor! So many plans not enough resources

[Laid Back]

50 minutes ago, Wiljor said:

You are correct brother Laid Back, big things are on the horizon for Iraq, i believe things will begin to pick up after Abadi is re elected. 

In the meantime we patiently wait  

Totally agree my brother, it will get really interesting after the elections

[js214]

4 minutes ago, Laid Back said:

Totally agree my brother, it will get really interesting after the elections

Next week are they not? 

[Goggles]

On Saturday May 12th.  

[pokerplayer]

2 hours ago, NEPatriotsFan1 said:

I hope so, Wiljor! So many plans not enough resources

 

Resources ? I have heard this term before but I have never had any or at least not much of this elusive term you speak. I think that I want lots of it too !!    

 

pp

[Synopsis]

3 hours ago, ChuckFinley said:

For sure LB. Feeling good as to where we are right now.  

 

3 hours ago, Laid Back said:

Let it be this year

Exciting times ahead my friend.

GoRV

Go 2018

Go $1:1

 

2 hours ago, ChuckFinley said:

For sure -  ⛱️🏝️

 

2 hours ago, Wiljor said:

You are correct brother Laid Back, big things are on the horizon for Iraq, i believe things will begin to pick up after Abadi is re elected. 

In the meantime we patiently wait  

 

2 hours ago, NEPatriotsFan1 said:

I hope so, Wiljor! So many plans not enough resources

 

I agree with You Gentlemen AND The Best Of Your Week To You (some with some Tim's, of course)!!! 

 

The news articles are Exceptionally Good!!! 

 

Iraqi citizens getting upset about the lack of reconstruction AND the Kuwaiti Donors getting upset about the lack of reconstruction (too) aught to weigh heavily in our favor!!! 

 

I like all the news articles about "monetary reform" ready for the "right environment" for implementation!!! 

 

I am a fan of the "SUDDENLY" occurrence at the most unexpected time which may be about "NOW" instead of "soon"!!! 

 

In The Mean Time....................................................
 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

[TOMINVEGAS]

So what are the world renowned super ambitious go getters in Iraq up to today? Oh wait, wrong site.....Not to get religious or whatever but isn’t the Antichrist supposed to come from Iraq? Anybody know? Just curious. And.... I forgot why I come to this site.... oh yeah! The... what’s it called?....Oh yeah....The Dinar!  How’s that coming along? I can’t remember things from ten or fifteen years ago like I used to be able to....lol.... peace everyone and may we all see something after the elections!!!!!

 

[Floridian]

15 minutes ago, Synopsis said:

 

 

 

 

 

I agree with You Gentlemen AND The Best Of Your Week To You (some with some Tim's, of course)!!! 

 

The news articles are Exceptionally Good!!! 

 

Iraqi citizens getting upset about the lack of reconstruction AND the Kuwaiti Donors getting upset about the lack of reconstruction (too) aught to weigh heavily in our favor!!! 

 

I like all the news articles about "monetary reform" ready for the "right environment" for implementation!!! 

 

I am a fan of the "SUDDENLY" occurrence at the most unexpected time which may be about "NOW" instead of "soon"!!! 

 

In The Mean Time....................................................
 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

 

Synopsis,

 

I would like to ask your take on this - a question I had from an article in another thread, due to the chunky money:

 

".....Thus, with the activation of the role of the work axes of the National Financial Inclusion Program, in which the introduction of technologies through ATM units, the dissemination of banking awareness and the protection of the public, will play a major role in the withdrawal of the condensed cash mass, Rliun dinars of the total mass of cash issued by the Central Bank, amounting to about forty trillion dinars."

 

This is the "mattress money" they speak of, and a certain Guru insists that there can never be a revaluation of the dinar because of all this "mattress money" still outside the banks.  Forty trillion dinars is a helluva-lot of money.

 

The article is saying that the CBI has a plan to get this money out of the mattresses and into the banks through education of the public and banking incentives.

 

My question is - How long is this going to take?????

 

Please tell me I'm wrong because I don't want to be right regarding the chunky money.

 

Edited May 7, 2018 by Floridian

[Synopsis]

3 minutes ago, Floridian said:

".....Thus, with the activation of the role of the work axes of the National Financial Inclusion Program, in which the introduction of technologies through ATM units, the dissemination of banking awareness and the protection of the public, will play a major role in the withdrawal of the condensed cash mass, Rliun dinars of the total mass of cash issued by the Central Bank, amounting to about forty trillion dinars."

 

The Best Of Your Week To You, Floridian, AND I Trust You Are Having A Great Night!!! 

 

My opinion only, there are some "financial reform" related options to be exercised that appear to have confidence the CHUNKAE' MONAE' will come out of, well, where ever it is stashed and into the banks. The prolific past news articles about "burnt", "punctured", "taped", "partial", etc. notes is seemingly pretty telling "something" is going to happen to bring in the CHUNKAE' MONAE' while of notable mention on how to deal with the counterfeit notes is likewise encouraging.

 

The "total mass of cash issued by the Central Bank, amounting to about forty trillion dinars" could be a reference to EVERYTHING to include what foreigners hold. But, who knows? I can not imagine the bone fide Iraqi Dinar held OUTSIDE of Iraq HAD NOT been issued by the Central Bank. I suspect legitimate currency dealers in Iraq acquired the Iraqi Dinar and exchanged with foreign currency dealers. A statement that came out earlier is 80% of the currency in circulation in Iraq is "stashed". My question is, "How much Iraqi Dinar is in circulation in Iraq?" The CBI currency auctions have been nominally 150 million USD or nominally 150 billion Iraqi Dinar. IF 1% of the Iraqi Dinar is pulled out of circulation for every CBI currency auction, then there would be 15 trillion dinars in circulation in Iraq. 20% (non stashed Iraqi Dinar) of 15 trillion is 3 trillion Iraqi Dinars or about 3 billion USD. For simplicity, lets assume there are 30 million people in Iraq who spend Iraqi Dinar. This is about 100 USD per day. For the amount of business transactions that occur with the same dinar going through the system, this could be plausible. However, I am thinking the actual figure is less than this. All this to say, I think a significant amount of the Iraqi Dinar (CHUNKAE' MONAE') has already been removed from circulation. Coupled with people getting loans for housing, cars, etc., they needed to put up Iraqi Dinar as a down payment. So, I suspect there is a significant amount of the physical Iraqi Dinar of the 40 trillion already removed from circulation and exchanged with foreign currency dealers or destroyed.

 

"the introduction of technologies through the ATM units" is a highly interesting statement coupled with "will play'!!! Looks like, to me, things are lining up nicely for roll out to the Iraqi Citizens!!! Otherwise, why would they communicate at this level with this information???!!!

 

Just me speaking here, I am VERY optimistic this is all going our way. What are the ACTUAL triggers or ACTUAL rate???!!! I dunno. I really think it will be "SUDDENLY" with no fan fare at seemingly the most unexpected time.

 

Just my conjecture, opinion, thoughts, and 

 

In The Mean Time................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

[Floridian]

15 minutes ago, Synopsis said:

 

The Best Of Your Week To You, Floridian, AND I Trust You Are Having A Great Night!!! 

 

My opinion only, there are some "financial reform" related options to be exercised that appear to have confidence the CHUNKAE' MONAE' will come out of, well, where ever it is stashed and into the banks. The prolific past news articles about "burnt", "punctured", "taped", "partial", etc. notes is seemingly pretty telling "something" is going to happen to bring in the CHUNKAE' MONAE' while of notable mention on how to deal with the counterfeit notes is likewise encouraging.

 

The "total mass of cash issued by the Central Bank, amounting to about forty trillion dinars" could be a reference to EVERYTHING to include what foreigners hold. But, who knows? I can not imagine the bone fide Iraqi Dinar held OUTSIDE of Iraq HAD NOT been issued by the Central Bank. I suspect legitimate currency dealers in Iraq acquired the Iraqi Dinar and exchanged with foreign currency dealers. A statement that came out earlier is 80% of the currency in circulation in Iraq is "stashed". My question is, "How much Iraqi Dinar is in circulation in Iraq?" The CBI currency auctions have been nominally 150 million USD or nominally 150 billion Iraqi Dinar. IF 1% of the Iraqi Dinar is pulled out of circulation for every CBI currency auction, then there would be 15 trillion dinars in circulation in Iraq. 20% (non stashed Iraqi Dinar) of 15 trillion is 3 trillion Iraqi Dinars or about 3 billion USD. For simplicity, lets assume there are 30 million people in Iraq who spend Iraqi Dinar. This is about 100 USD per day. For the amount of business transactions that occur with the same dinar going through the system, this could be plausible. However, I am thinking the actual figure is less than this. All this to say, I think a significant amount of the Iraqi Dinar (CHUNKAE' MONAE') has already been removed from circulation. Coupled with people getting loans for housing, cars, etc., they needed to put up Iraqi Dinar as a down payment. So, I suspect there is a significant amount of the physical Iraqi Dinar of the 40 trillion already removed from circulation and exchanged with foreign currency dealers or destroyed.

 

"the introduction of technologies through the ATM units" is a highly interesting statement coupled with "will play'!!! Looks like, to me, things are lining up nicely for roll out to the Iraqi Citizens!!! Otherwise, why would they communicate at this level with this information???!!!

 

Just me speaking here, I am VERY optimistic this is all going our way. What are the ACTUAL triggers or ACTUAL rate???!!! I dunno. I really think it will be "SUDDENLY" with no fan fare at seemingly the most unexpected time.

 

Just my conjecture, opinion, thoughts, and 

 

In The Mean Time................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

 

Thanks so much for your post, Synopsis, however it brought up more questions for me.  (Sorry, ☹️)

 

 

".....Thus, with the activation of the role of the work axes of the National Financial Inclusion Program, in which the introduction of technologies through ATM units, the dissemination of banking awareness and the protection of the public, will play a major role in the withdrawal of the condensed cash mass, Rliun dinars of the total mass of cash issued by the Central Bank, amounting to about forty trillion dinars."

 

1.  I hadn't even notice "the protection of the public" in the above statement before.

I'm thinking this means insured bank accounts, like FDIC.

 

2.  I did not consider that the "mattress money" would consist of "burnt", "punctured", "taped", "partial", etc. notes".

If I was hoarding cash, I would hoard the good notes not the damaged ones.

 

3.  "For simplicity, lets assume there are 30 million people in Iraq who spend Iraqi Dinar."

I thought they used dollars in Iraq, not so much dinars.

 

4.  "Coupled with people getting loans for housing, cars, etc., they needed to put up Iraqi Dinar as a down payment."

This I have not heard before.  Are you sure they HAVE TO use dinar and cannot use dollars as down payments?  This would be great, if it's so.

 

Again, sorry for all the questions that came to mind.

 

 

 

 

[Joe Sutherland]

Hey guys, I was skimming articles here on DV today and I saw one that had something reading like... "Now that the dinar is equal in value to that of the dollar..." But I can't find it. Any help?

[Rmc10]

44 minutes ago, Joe Sutherland said:

Hey guys, I was skimming articles here on DV today and I saw one that had something reading like... "Now that the dinar is equal in value to that of the dollar..." But I can't find it. Any help?

 

"Local Produce and Foreign Exchange Rates" It said that the value of the dinar is worth more than the value of the dollar from what I read.

Edited May 8, 2018 by Rmc10

[Rmc10]

http://www.alsabaah.iq/ArticleShow.aspx?ID=156687

 

Yota posted it I believe.

Edited May 8, 2018 by Rmc10

[Joe Sutherland]

4 minutes ago, Rmc10 said:

http://www.alsabaah.iq/ArticleShow.aspx?ID=156687

 

Yota posted it I believe.

Thanks so much for that!

[chinadawg]

2 hours ago, Floridian said:

 

Synopsis,

 

I would like to ask your take on this - a question I had from an article in another thread, due to the chunky money:

 

".....Thus, with the activation of the role of the work axes of the National Financial Inclusion Program, in which the introduction of technologies through ATM units, the dissemination of banking awareness and the protection of the public, will play a major role in the withdrawal of the condensed cash mass, Rliun dinars of the total mass of cash issued by the Central Bank, amounting to about forty trillion dinars."

 

This is the "mattress money" they speak of, and a certain Guru insists that there can never be a revaluation of the dinar because of all this "mattress money" still outside the banks.  Forty trillion dinars is a helluva-lot of money.

 

The article is saying that the CBI has a plan to get this money out of the mattresses and into the banks through education of the public and banking incentives.

 

My question is - How long is this going to take?????

 

Please tell me I'm wrong because I don't want to be right regarding the chunky money.

 

but is 40 trillion dinar that   has a  value of about  39 billion dollars really a lot of money ???  considering all the low hanging fruit in Iraq .

[Synopsis]

28 minutes ago, Rmc10 said:

http://www.alsabaah.iq/ArticleShow.aspx?ID=156687

 

Yota posted it I believe.

 

I really like the article so Thank You, RMC10, And The Best Of Your Week To You!!! 

 

I really like this excerpt!!!

 

In economics and finance, the value of needs increases mainly on the increase in demand and vice versa. The value of the dollar is lower than the value of the dinar adopted by the Ministry of Commerce to buy flour as a domestic crop and sugar as a crop and a national product .

 

Here is the whole article:

07/5/2018 12:00 am    Walid Khaled Al-Zaidi  Foreign exchange rates in each country are affected by demand and demand. We in Iraq do not go out of this economic process. Foreign currencies such as the dollar or the euro are rising and their exchange rates fall mainly on the amount of demand by state institutions, private sector companies or individuals To facilitate the process of obtaining goods or services from abroad or in the case of travel to the countries of the world  Different.  What is important in this area is the request of the State institutions for foreign currency as the largest source for these currencies, because of its wide circle in economic relations and trade exchanges with different countries of the world dealing with foreign banknotes, which we have difficult currencies, or values of purchase   High.   Among the things that the Ministry of Commerce needs from foreign originators are the ration card items, which are available only through the purchase of companies specialized in the supply of food mainly, to deal in foreign currencies, especially the dollar most traded in the world markets, where Iraq believes the ration card items from abroad Over the past period, it is necessary to buy (withdraw) large amounts of the dollar from the foreign exchange market to fill the   purchase.  Which keeps the exchange rates of the dollar and the rest of the foreign currencies for the exchange rate of the Iraqi dinar is   relatively high .  The recent action of the Ministry of Commerce, which decided to secure the flour and sugar from the local product for the purpose of distribution within the ration items to citizens.  The most important of which is the process of buying these materials from two local crops depending on the national currency (dinar), which reduces the amount of demand for amounts as funds allocated in dollars and other foreign currencies To buy these articles of global origin and ease the financial burdens that weigh heavily on the state treasury   . In economics and finance, the value of needs increases mainly on the increase in demand and vice versa. The value of the dollar is lower than the value of the dinar adopted by the Ministry of Commerce to buy flour as a domestic crop and sugar as a crop and a   national product .  Such behavior is an important fact that raises a very important issue for the nature of external and internal factors, which contribute to a large extent to the actual need to fall within the framework of national public requirements of domestic payments.  It should be recalled that a group of experts and specialists in financial and economic affairs have been encouraged to process the revaluation of the Iraqi dinar against the value of the dollar and other foreign currencies depending on the frequent circulation in the purchase of ration items and not limited to international purchases that rely on foreign currency from external sources, Is a practical way out of some of the dilemmas suffered by the Iraqi national economy related to the large foreign exchange of the proceeds of Iraqi oil sold in the world crude oil markets.  Iraq, which has risen and overcome many of the challenges and difficulties on the path of emancipation is today in a better way than to open the way for reforms and economic treatments studied that would rid the country of many constraints and self-reliance and the activation of benefits based on  national capabilities and capabilities  .

 

In The Mean Time...................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

[Synopsis]

1 hour ago, Floridian said:

 

Thanks so much for your post, Synopsis, however it brought up more questions for me.  (Sorry, ☹️)

 

 

".....Thus, with the activation of the role of the work axes of the National Financial Inclusion Program, in which the introduction of technologies through ATM units, the dissemination of banking awareness and the protection of the public, will play a major role in the withdrawal of the condensed cash mass, Rliun dinars of the total mass of cash issued by the Central Bank, amounting to about forty trillion dinars."

 

1.  I hadn't even notice "the protection of the public" in the above statement before.

I'm thinking this means insured bank accounts, like FDIC.

 

2.  I did not consider that the "mattress money" would consist of "burnt", "punctured", "taped", "partial", etc. notes".

If I was hoarding cash, I would hoard the good notes not the damaged ones.

 

3.  "For simplicity, lets assume there are 30 million people in Iraq who spend Iraqi Dinar."

I thought they used dollars in Iraq, not so much dinars.

 

4.  "Coupled with people getting loans for housing, cars, etc., they needed to put up Iraqi Dinar as a down payment."

This I have not heard before.  Are you sure they HAVE TO use dinar and cannot use dollars as down payments?  This would be great, if it's so.

 

Again, sorry for all the questions that came to mind.

 

 

 

 

 

1. Hard to say what they mean by "the protection of the public". I suspect it means to prevent theft of the CHUNKAE' MONAE' from the citizens where the CHUNKAE' MONAE' is stored somewhere other than being deposited in the banks. They may be trying to advertise the bank is the best place to keep the money. Possibly, there has been some legislation passed to protect the bank deposits much like the FDIC. I vaguely remember something said about that but I do not remember what happened there.
2. Hard to say what the Iraqi mentality is with regard to the quality of the CHUNKAE' MONAE' they are holding. These "stashes" may have been accumulated, stored, moved, broken up, recombined, etc. over the years so the "integrity" may have been compromised with who knows the quality of Iraqi Dinar. Some past articles mentioned "buried" Iraqi Dinar so not sure if those notes were in contact with moisture, etc.
3. My understanding is the basic Iraqi is paid in Iraqi Dinar and uses Iraqi Dinar for daily transactions. The USD exchanged for Iraqi Dinar for the Iraqi Citizen is mostly for international travel like $3,000 USD or so.
4. Since Iraqi Dinar is the local currency, I suspect most of the daily transactions occur in Iraqi Dinar. If there are loans from the bank, the news articles suggest they are in Iraqi Dinar. I suspect any foreign currency, like the USD, would be converted to Iraqi Dinar for the down payment or subsequent payments. Alternately, this may be a means to get the CHUNKAE' MONAE' into the banks!!! A little math as an example. Say there is 12 Trillion Iraqi Dinar stored as CHUNKAE' MONAE'. For a 20% down payment, that would mean a total of 60 Trillion Iraqi Dinars. If the maximum on the load was 20 Million Dinar, then there would be 3 Million Loans. There is likely above 1/5 of Iraqis above the age of 20 or around 8 million people (nominally 40 million people in Iraq) who may be able to get a loan. Funny numbers here but may suggest the plausibility of a significant amount of Iraqi Dinars being sucked in due to loans granted.

Don't worry about all the questions. That is how we all get perspectives and answers. Thank You, Floridian, For ALL Your Input!!! 

 

Just my speculation, thoughts, opinions, and 

 

In The Mean Time................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

Edited May 8, 2018 by Synopsis

[Floridian]

25 minutes ago, Synopsis said:

 

1. Hard to say what they mean by "the protection of the public". I suspect it means to prevent theft of the CHUNKAE' MONAE' from the citizens where the CHUNKAE' MONAE' is stored somewhere other than being deposited in the banks. They may be trying to advertise the bank is the best place to keep the money. Possibly, there has been some legislation passed to protect the bank deposits much like the FDIC. I vaguely remember something said about that but I do not remember what happened there.
2. Hard to say what the Iraqi mentality is with regard to the quality of the CHUNKAE' MONAE' they are holding. These "stashes" may have been accumulated, stored, moved, broken up, recombined, etc. over the years so the "integrity" may have been compromised with who knows the quality of Iraqi Dinar. Some past articles mentioned "buried" Iraqi Dinar so not sure if those notes were in contact with moisture, etc.
3. My understanding is the basic Iraqi is paid in Iraqi Dinar and uses Iraqi Dinar for daily transactions. The USD exchanged for Iraqi Dinar for the Iraqi Citizen is mostly for international travel like $3,000 USD or so.
4. Since Iraqi Dinar is the local currency, I suspect most of the daily transactions occur in Iraqi Dinar. If there are loans from the bank, the news articles suggest they are in Iraqi Dinar. I suspect any foreign currency, like the USD, would be converted to Iraqi Dinar for the down payment or subsequent payments. Alternately, this may be a means to get the CHUNKAE' MONAE' into the banks!!! A little math as an example. Say there is 12 Trillion Iraqi Dinar stored as CHUNKAE' MONAE'. For a 20% down payment, that would mean a total of 60 Trillion Iraqi Dinars. If the maximum on the load was 20 Million Dinar, then there would be 3 Million Loans. There is likely above 1/5 of Iraqis above the age of 20 or around 8 million people (nominally 40 million people in Iraq) who may be able to get a loan. Funny numbers here but may suggest the plausibility of a significant amount of Iraqi Dinars being sucked in due to loans granted.

Don't worry about all the questions. That is how we all get perspectives and answers. Thank You, Floridian, For ALL Your Input!!! 

 

Just my speculation, thoughts, opinions, and 

 

In The Mean Time................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

 

 

Again, thanks so much for the answers.  😊

 

I'm shocked that you feel the Iraqis use dinars in daily transactions, when I am positive they use dollars. 

We've got to find out which one of us is right (and I hope it's you). LOL LOL

 

If you are the one who is right, we've got an RV coming any minute.

If it's me, they still have to take in 40 trillion dinar before anything happens.

 

Does any one know for sure which currency is used daily by the average citizen in Iraq?

How do we find out?  Don't we have a couple of DV members in Iraq?

Handy is in Iraq, I think.  Can anyone contact him and ask?

 

 

Can't seem to get rid of this image.  It was something I was looking at for another topic.  Does not belong here, but can't delete.

Edited May 8, 2018 by Floridian

[ChuckFinley]

3 hours ago, Synopsis said:

 

 

 

 

 

I agree with You Gentlemen AND The Best Of Your Week To You (some with some Tim's, of course)!!! 

 

The news articles are Exceptionally Good!!! 

 

Iraqi citizens getting upset about the lack of reconstruction AND the Kuwaiti Donors getting upset about the lack of reconstruction (too) aught to weigh heavily in our favor!!! 

 

I like all the news articles about "monetary reform" ready for the "right environment" for implementation!!! 

 

I am a fan of the "SUDDENLY" occurrence at the most unexpected time which may be about "NOW" instead of "soon"!!! 

 

In The Mean Time....................................................
 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

I agree with the increase of out side pressure to get things done is on our favor. Things should really start to move after the election. My concern is that they move into the holiday period and loose the momenton. Best of the week to you too. 

[ChuckFinley]

3 hours ago, Synopsis said:

 

The Best Of Your Week To You, Floridian, AND I Trust You Are Having A Great Night!!! 

 

My opinion only, there are some "financial reform" related options to be exercised that appear to have confidence the CHUNKAE' MONAE' will come out of, well, where ever it is stashed and into the banks. The prolific past news articles about "burnt", "punctured", "taped", "partial", etc. notes is seemingly pretty telling "something" is going to happen to bring in the CHUNKAE' MONAE' while of notable mention on how to deal with the counterfeit notes is likewise encouraging.

 

The "total mass of cash issued by the Central Bank, amounting to about forty trillion dinars" could be a reference to EVERYTHING to include what foreigners hold. But, who knows? I can not imagine the bone fide Iraqi Dinar held OUTSIDE of Iraq HAD NOT been issued by the Central Bank. I suspect legitimate currency dealers in Iraq acquired the Iraqi Dinar and exchanged with foreign currency dealers. A statement that came out earlier is 80% of the currency in circulation in Iraq is "stashed". My question is, "How much Iraqi Dinar is in circulation in Iraq?" The CBI currency auctions have been nominally 150 million USD or nominally 150 billion Iraqi Dinar. IF 1% of the Iraqi Dinar is pulled out of circulation for every CBI currency auction, then there would be 15 trillion dinars in circulation in Iraq. 20% (non stashed Iraqi Dinar) of 15 trillion is 3 trillion Iraqi Dinars or about 3 billion USD. For simplicity, lets assume there are 30 million people in Iraq who spend Iraqi Dinar. This is about 100 USD per day. For the amount of business transactions that occur with the same dinar going through the system, this could be plausible. However, I am thinking the actual figure is less than this. All this to say, I think a significant amount of the Iraqi Dinar (CHUNKAE' MONAE') has already been removed from circulation. Coupled with people getting loans for housing, cars, etc., they needed to put up Iraqi Dinar as a down payment. So, I suspect there is a significant amount of the physical Iraqi Dinar of the 40 trillion already removed from circulation and exchanged with foreign currency dealers or destroyed.

 

"the introduction of technologies through the ATM units" is a highly interesting statement coupled with "will play'!!! Looks like, to me, things are lining up nicely for roll out to the Iraqi Citizens!!! Otherwise, why would they communicate at this level with this information???!!!

 

Just me speaking here, I am VERY optimistic this is all going our way. What are the ACTUAL triggers or ACTUAL rate???!!! I dunno. I really think it will be "SUDDENLY" with no fan fare at seemingly the most unexpected time.

 

Just my conjecture, opinion, thoughts, and 

 

In The Mean Time................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

 

2 hours ago, Floridian said:

 

Thanks so much for your post, Synopsis, however it brought up more questions for me.  (Sorry, ☹️)

 

 

".....Thus, with the activation of the role of the work axes of the National Financial Inclusion Program, in which the introduction of technologies through ATM units, the dissemination of banking awareness and the protection of the public, will play a major role in the withdrawal of the condensed cash mass, Rliun dinars of the total mass of cash issued by the Central Bank, amounting to about forty trillion dinars."

 

1.  I hadn't even notice "the protection of the public" in the above statement before.

I'm thinking this means insured bank accounts, like FDIC.

 

2.  I did not consider that the "mattress money" would consist of "burnt", "punctured", "taped", "partial", etc. notes".

If I was hoarding cash, I would hoard the good notes not the damaged ones.

 

3.  "For simplicity, lets assume there are 30 million people in Iraq who spend Iraqi Dinar."

I thought they used dollars in Iraq, not so much dinars.

 

4.  "Coupled with people getting loans for housing, cars, etc., they needed to put up Iraqi Dinar as a down payment."

This I have not heard before.  Are you sure they HAVE TO use dinar and cannot use dollars as down payments?  This would be great, if it's so.

 

Again, sorry for all the questions that came to mind.

 

 

 

 

Great question and great response. Also, Laid back did a quick related response to this in another thread. I think basically with what is out there and what assets they have they could RV at over 1 to 1 easily. If I find it I will post the link. Evening to you both. 

[Synopsis]

10 minutes ago, ChuckFinley said:

I agree with the increase of out side pressure to get things done is on our favor. Things should really start to move after the election. My concern is that they move into the holiday period and loose the momenton. Best of the week to you too. 

 

2 minutes ago, ChuckFinley said:

 

Great question and great response. Also, Laid back did a quick related response to this in another thread. I think basically with what is out there and what assets they have they could RV at over 1 to 1 easily. If I find it I will post the link. Evening to you both. 

 

AND The Best Of Your Evening To You, Too, ChuckFinley!!! 

 

In The Mean Time.................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

   

[ChuckFinley]

Here is that link from Laid Back.

 

 

Thanks Synopsis.