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Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries


yota691
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This sounds like they are not even considering dinars out of state as a liability.  Not sure what to think of this as CBI does not even mention these dinar 

Hang on as this ride is not over until the fat lady sings.   100,000 dinar note is not out of line.  After all we need  A $200.00 US note because the fed has debased our currency so badly 

$100 will not even provide a dinar and a movie anymore for a family of 4

 

Thanks Butifldrm

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2 hours ago, Butifldrm said:

"On the issue of the currency of the category of 100 thousand dinars, these ideas are traded by the Central Bank, but at the moment, there is a tendency in some countries to reduce the currency categories so as not to be stored or falsified," He said, adding that "currencies And the central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to take deliberate steps, and a stable situation fully so as not to be exploited in the fraud and other.

 

 

 

Here is an excerpt from this past Sunday of a 7:31 pm post from Yota that basically says the same thing:

 

The central bank has recently offered the category of 50,000 dinars, is there an intention to put the category of 100 thousand? - These ideas are traded by the Central Bank, but at the present time, there is a tendency in some countries to reduce the categories of currencies so as not to be stored or counterfeited, and that the currencies of small groups, may lead the citizen to bid farewell to banks for the difficulty of storage.

 

Sorry, folks, I am showing up mentally a little late on all this. I thought I read an article somewhere in the last couple days that they were NOT going to issue the 100,000 Iraqi Dinar note.

 

So reading between the lines is they want to pull the smaller large denomination note out of the Bicraqi Iraqi Citizen's Storage possibly being the 25,000, 10,000, 5,000, and maybe the 1,000 Iraqi dinar notes. This will reduce the amount of Iraqi Dinar notes in circulation/storage and get the older issued notes, as well as the damaged notes, off the streets/storage. This will also flush out all the counterfeit notes that are brought in for exchange to be voided that are held in storage. Better to do this now than when the actual "restructure the Iraqi Dinar" occurs. Sometime ago, it appeared they wanted to put the 50,000 and 100,000 Iraqi Dinar notes out there for that very reason and looks like now is when they want to complete that process.

 

How this all will go down via the CBI and what impacts this will have for the Bicraqi Iraqi and foreign citizens legally holding Bicraqi Iraqi Dinar remains to be seen. It does seem like they are trying to do a refresh with new issue of currency both with the 100,000 and lower denomination notes. I am looking for more clarification on the "lower denomination notes". Articles have suggested 250, 500, and 100. Is the 100 a typo actually meaning 1,000???!!! If so or not so, why has the 100 appeared multiple times???!!! one would think they would publish the corrected version or note the error. The 100 is a new issue not that has not been introduced before after 2003. Seemingly, no news on the 50 Iraqi Dinar note that was pulled from circulation and voided in 2015.

 

So, maybe more surprises along the way the rest of this month and into early October regarding the "lower denominations". I do think this all is looking very, very good with all the news "SUDDENLY" appearing about the "delete the zeroes" and "restructure the Iraqi Dinar".

 

If nothing else, I would like to get my hands on some of those 100,000 Iraqi Dinar notes!!!

 

Just my conjecture, thoughts, opinion, and :twocents: for whatever THAT is worth!!! CAVEAT EMPTOR, Reader!!! :o

 

DISCLAIMER: NOTHING HERE OR ANY OTHER POST IS TO BE CONSIDERED INVESTMENT ADVICE OF ANY KIND!!! CAVEAT EMPTOR EVERYBODY!!!

 

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

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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1 hour ago, SocalDinar said:

This sounds like they are not even considering dinars out of state as a liability.  Not sure what to think of this as CBI does not even mention these dinar 

Hang on as this ride is not over until the fat lady sings.   100,000 dinar note is not out of line.  After all we need  A $200.00 US note because the fed has debased our currency so badly 

$100 will not even provide a dinar and a movie anymore for a family of 4

 

Thanks Butifldrm

 

socal, this is just simply my thoughts but it has always been my understanding the  ( iqd )  that has left the country and legit will be handled by the countries central banks it is exchange in ,, if thats true then the cbi is only concerned what is inside its borders . i have to always remind myself these articles are meant for the iraqi citizen . cheers

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2 hours ago, SocalDinar said:

This sounds like they are not even considering dinars out of state as a liability.

Good point! It is possible we may get hit with the fact that the old are not considered the "international" currency. They want to pull it in, not spread it around in a world that doesn't know what 3 zeros mean. I really hope this is not the case. Has there been any articles about this? 

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6 hours ago, navira said:

This is really good that we have many articles talking about deletion of zeroes and no mention of anymore delay. I hope this means that we are very close to seeing our blessing(hoping to see rv later this month). Cheers dvers

Speaking of Cheers I think it's about time.

 

Starr

 

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Edited by Starrider
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"On the issue of the currency of the category of 100 thousand dinars, these ideas are traded by the Central Bank, but at the moment, there is a tendency in some countries to reduce the currency categories so as not to be stored or falsified," He said, adding that "currencies And the central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to take deliberate steps, and a stable situation fully so as not to be exploited in the fraud and other.

 

You missed something very important that has been brought up and said before as you put it in purple. The clause " the plan needs to take deliberate steps and a stable situation fully as to not be exploited in fraud and other." is an important clause because this statement alone has been stated vaguely before and the "stable situation" part was emphatically discussed by a lot of people. The Governor of the CBI did not state what constituted a stable situation. However, I am further guessing it would not include the GOI not being fully seated at this time, the protesting in southern Iraq and other things. With those two words int his article, the CBI is delaying any kind of RV from happening in the near future, much less this month. When the Governor of the CBI stops saying that his country is not in a stable situation then an RV is imminent. The reason I say this is because of the last part of the clause talking about corruption. The Governor of  the CBI is not confident that an RV can take place in the corrupt climate which exists in Iraq at this time.

Edited by Theseus
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2 minutes ago, Theseus said:

His idea of stable not ours.  I am also surmising he is talking about trying to remove as much counterfeit currency on the market.

I hope it is broad. Trust all is going well with you Theseus. It has been one long ride here on my end. But it does look like some parts of Iraq are doing well. Hard to think what a generating that knows only war is thinking right now. 

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  • yota691 changed the title to Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries

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