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THE CENTRAL BANK OF IRAQ IS READY TO REVALUE THE DINAR


BBALL99
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He just detailed it to you here. The detetion of the zeros and the increase in value will both happen simultaneously which will be the RV. It doesn't matter if its old news or new news, the fact that it is ready to happen directly after the formation of the government is great news!! Everyone asks this question every day, "How do we know the RV will happen after the GOI is formed", so here it is. Whether you've read it before or are just reading it for the first time its great news.

the post you quoted looks like a statement by someone not tied with the cbi....like an opinion what he thinks needs to happen....it also says new currency and again there have been articles by the cbi saying redenomination which is bad news.

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lmao...thats what my post said before that...your other post said taking off the 3 zeros from the value which is not what the article says at all. it says removal of the aeros from currency which is removal of the gig notes such as 25,000 and 10,000....learn to read

Please understand they CAN NOT remove all the larger

Bills 25K, 10K, 5K, and 1K without revaluing the currency.

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Please understand they CAN NOT remove all the larger

Bills 25K, 10K, 5K, and 1K without revaluing the currency.

lol who said they couldnt...god are you able to comprehend....u said the removal of zeros was taking the 3 zeros off the value of the currency. so from .0085 to .85 and this is not what the article stated at all....it said removal of the zeros from currency...im not saying it wont rv im saying you interpreted the article wrong. bottom line.

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the post you quoted looks like a statement by someone not tied with the cbi....like an opinion what he thinks needs to happen....it also says new currency and again there have been articles by the cbi saying redenomination which is bad news.

I'm staying positive regardless of any negative posts anywhere on this site or any other site. No one will say anything to convince me that the Dinar will not eventually RV and that it will eventually return to its original pre-war value of $3.33 or higher. Doesn't matter to me how long it takes to get there, IT WILL HAPPEN. I believe in Santa Claus, the Easter Bunny, the Tooth Fairy and the RV!

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Old Article. I was excited there for a minute. The first IMF article today about raising the value of the dinar was very to the point, in my opinion. The article like this one posted is confusing and was probably intended to be that way to curb speculation. But, it's getting late in the game and it apprars that the IMF is moving forward with their agenda. Come on RV. this is the article link from the other thread if someone has not read it yet http://articlesofinterest-kelley.blogspot.com/2010/10/imf-asks-iraq-to-promote-value-of-iraqi.html

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I'm staying positive regardless of any negative posts anywhere on this site or any other site. No one will say anything to convince me that the Dinar will not eventually RV and that it will eventually return to its original pre-war value of $3.33 or higher. Doesn't matter to me how long it takes to get there, IT WILL HAPPEN. I believe in Santa Claus, the Easter Bunny, the Tooth Fairy and the RV!

thats good..stay positive....im not sayingit wont rv...im hoping for the best as well...im just sayin im taking this article as saying that it will rv and rd at same time...im not sayin this article is true im just giving my opinion on what i think it means.

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[Asharq Al-Awsat] Do you expect a candidate from the National Alliance to form the government and not Dr Iyad Allawi?

[Talabani] Yes, I think the candidate to form the government will be from the National Alliance. But brother Iyad should play a major role appropriate to his struggle, stature, and large bloc in parliament.

[Asharq Al-Awsat] Are you not worried that the Iraqi people will start wondering about the credibility of the elections if the result in forming the government does not reflect the result of the elections?

[Talabani] The government should reflect the result of the elections because the result of the elections is that the government should be formed by a parliamentary bloc that obtains the vote of confidence of the parliament. If it is not a constitutional government it will not win the vote of confidence of the parliament. In this respect, I am not worried that the Iraqi people may be reluctant about their government that will obtain the parliament's vote of confidence.

Read more:

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thats good..stay positive....im not sayingit wont rv...im hoping for the best as well...im just sayin im taking this article as saying that it will rv and rd at same time...im not sayin this article is true im just giving my opinion on what i think it means.

I know I am taking a chance at all of you bashing me for not knowing what the heck is going on here, but I've read through this thread a couple of times now and one thing(well many things) I don't understand....."if" this removal of 3 zeros happens, and if he rv happens simotaneously or not, will we still get what we thought we were going to get? Meaning.....if it rv's at .85, would my 25,000 note still be worth $21,250? Please do not bash me for my stupidity and slow nature at comprehending this, but I really want/need to know.

Thanks,

Mel

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BBALL99[/b]' date='02 October 2010 - 10:29 PM' timestamp='1286072957' post='212711']

Please understand they CAN NOT remove all the larger

Bills 25K, 10K, 5K, and 1K without revaluing the currency.

BBALL99 is On IT...Gets my vote!

Logically speaking...How else could a "revaluation" of their currency legitimatelly take place...It's not magic...!

The value of a Currency is always directly tied to Supply and Demand!!! That, my friend is called the "Black Gold"...

And it runs deep in Iraq! The Ball is in their Court.....sorta!!! Don't kid yourselves...USA is not in the bleacher seats on this ONE!!![/size]

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at least someone knows what there talking about. thats exalty how i see it

are you sure about that...look at his reputation...its in the negatives for a reason....of course thats how you see it because thats how you want to see it...where does it say smaller denominations...it says new currency (redenomination) ......look back at other articles where the cbi has stated themselves that they will redenominate and your 1000 old dinar would be turned in for 1 new dinar not...hense removal of 3 zeros....nobody knows what will happen..nobody....we get conflicting articles all the time...what the pumpers have said about the revalue has never happened before in the history of time but the redenomination has.

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I'm staying positive regardless of any negative posts anywhere on this site or any other site. No one will say anything to convince me that the Dinar will not eventually RV and that it will eventually return to its original pre-war value of $3.33 or higher. Doesn't matter to me how long it takes to get there, IT WILL HAPPEN. I believe in Santa Claus, the Easter Bunny, the Tooth Fairy and the RV!

AMEN sister! I love it! I agree.

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I'm staying positive regardless of any negative posts anywhere on this site or any other site. No one will say anything to convince me that the Dinar will not eventually RV and that it will eventually return to its original pre-war value of $3.33 or higher. Doesn't matter to me how long it takes to get there, IT WILL HAPPEN. I believe in Santa Claus, the Easter Bunny, the Tooth Fairy and the RV!

mrspen...Me Too!!!

We need PEOPLE like you!!!!

And...In God We Trust!!!

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This could go either way.......but removing the zeros from the currency is NOT speaking about the exchange rate......but, in fact to GRADUALLY remove the larger bills in circulation by introducing smaller denominations, BOTH being legal tender in the marketplace at the same time and HOPEFULLY raising the value of the Dinar at the same time so that we can all cash out......BUUUTTTTT this could also mean that they are going to redenominate (which I really doubt) and we would be forced to exchange our bills immediately for smaller denoms but NOT 1 for 1 like they did before when they removed the Saddam bills from circulation.....Regardless of what happens just because you have your Dinar in an electronic account, it will be affected with any changes in the currency. I dont know why some people think that if they have it in an account that it will not be subjected to redenomination or anything of that nature.......We still really dont know what they mean or what exactly they are going to do....We are just going to have to wait and see and keep our fingers crossed that it works out in our favor!!!

Edited by keepmwlknfny
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at least someone knows what there talking about. thats exalty how i see it

Hey thanks for the reply.

A lot of people don't see it the way we do by removing

the larger notes and at the same time revaluing the currency

then releasing the smaller denominations $1, $5, $10 and the $25

bills that have already been printed and are in the banks now

awaiting the RV.

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This could go either way.......but removing the zeros from the currency is NOT speaking about the exchange rate......but, in fact to GRADUALLY remove the larger bills in circulation by introducing smaller denominations, BOTH being legal tender in the marketplace at the same time and HOPEFULLY raising the value of the Dinar at the same time so that we can all cash out......BUUUTTTTT this could also mean that they are going to redenominate (which I really doubt) and we would be forced to exchange our bills immediately for smaller denoms but NOT 1 for 1 like they did before when they removed the Saddam bills from circulation.....Regardless of what happens just because you have your Dinar in an electronic account, it will be affected with any changes in the currency. I dont know why some people think that if they have it in an account that it will not be subjected to redenomination or anything of that nature.......We still really dont know what they mean or what exactly they are going to do....We are just going to have to wait and see and keep our fingers crossed that it works out in our favor!!!

Keep,

"If" they do any of what you described they could do, would it still mean that we would recieve the value of what our larger bills are worth at time of RV, even if we have to exchange our bills for smaller denoms(which I don't know how I would do tthat...)?

Thanks if you reply to me,

Mel

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Keep,

"If" they do any of what you described they could do, would it still mean that we would recieve the value of what our larger bills are worth at time of RV, even if we have to exchange our bills for smaller denoms(which I don't know how I would do tthat...)?

Thanks if you reply to me,

Mel

If they do a redenomination you will NOT get full value for what the larger bills are printed at....you will only get a fraction of that.......If they simply introduce smaller denominations to the country, then they will RV and you will be able to exchange your Dinar for USD anywhere that the Dinar is accepted.......Actually either way they will raise the value of the Dinar but in the case of a redenomination we wont get face value of our bills when exchanging them for USD OR the new bills

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If they do a redenomination you will NOT get full value for what the larger bills are printed at....you will only get a fraction of that.......If they simply introduce smaller denominations to the country, then they will RV and you will be able to exchange your Dinar for USD anywhere that the Dinar is accepted.......Actually either way they will raise the value of the Dinar but in the case of a redenomination we wont get face value of our bills when exchanging them for USD OR the new bills

Oh no......what would the fraction be? So "if" it RV'd at .85, and I was able to exchange my 25,000 bill in for roughly $21,000, what fraction might it be "if" they introduced smaller denoms? Im sorry to be so duncy about this, but I really don't understand...

Thanks,

Mel

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Here's another from 6 Feb '10:

Iraq Planning Currency Redenomination

16BA1417-D257-4B57-9F88-8B0C4C22BCF1_mw270_s.jpg Iraqi dinars are stacked at a teller's window in a Najaf bank.

February 06, 2010 BAGHDAD -- The Iraqi Central Bank is planning to redenominate the national currency in an effort to ease transactions and allow people to carry less paper money, RFE/RL's Radio Free Iraq (RFI) reports.

Mudhhir Muhammad Salih, a member of a Central Bank advisory panel, told RFI that a plan has been made to remove three zeros from the currency and phase out the current banknotes late this year.

Salih said by the end of 2010 the new banknotes will be fully introduced while the old banknotes will be gradually removed from circulation. He did not specify when the new notes would be issued.

Both will be legal tender in Iraq until the old notes are completely withdrawn.

Iraqi officials have had a long-running plan to redenominate the Iraqi dinar. In 2006, the Finance Ministry recommended to the Central Bank that it carry out such a plan.

Salih pointed out that banks are having a hard time accepting cash savings and deposits, but by dropping the zeros it will make it easier for both the banks to deal with their customers and for the general public to carry money. He said some 80 percent of Iraq's money supply is cash in circulation.

Salih added that in 1990 the value of banknotes in circulation was about 25 billion Iraqi dinars but is currently some 25 trillion dinars.

Economic analyst Hilal al-Tahhan told RFI that the bank's move is overdue. He said he expects the currency change to go smoothly because of the decision to allow both the old and new banknotes to coexist, leading to less turbulence in the economy.

The current exchange rate is 1,167 Iraqi dinars to the U.S. dollar.

... and 14 Sep 10

Central Bank Wants to Drop Zeros from Iraqi Dinar?

Posted on 14 September 2010. Tags: forex, iraqi dinar

Various websites are quoting the Governor of Iraq’s Central Bank, Mohammed Salih, as saying the he wants to delete three zeros from the Iraqi currency after the formation of the new Iraqi government.

In a reported interview with “Alsumaria News”, he said the amount of Iraqi dinars in circulation has increased from 25 billion in 1980 to 27 trillion now, and this has “led to confusion in transactions for large commercial banks”.

Saleh added that “the Bank is fully prepared to delete the zeros from the Iraqi currency once the new Iraqi government is formed … the deletion of zeros is a national issue and may need special legislation”.

Saleh pointed out that “the Bank was able to reduce the level of inflation to 3%, which reflects the success of Iraqi policy”.

The reports also quote a ‘Jamil Antoine’ as saying, “Iraq is not ready for the time being to delete the zeros from the Iraqi currency … the deletion of zeros needed to stabilize the security and political, as well as economic stability … the Central Bank by seeking the deletion of zeros from the Iraqi dinar is intending to give moral force, not physical strength of the dinar … the deletion of zeros needed to create and cultural awareness for the Iraqi people and the Iraqi market.”

IBN has so far been unable to verify these reports

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If they do a redenomination you will NOT get full value for what the larger bills are printed at....you will only get a fraction of that.......If they simply introduce smaller denominations to the country, then they will RV and you will be able to exchange your Dinar for USD anywhere that the Dinar is accepted.......Actually either way they will raise the value of the Dinar but in the case of a redenomination we wont get face value of our bills when exchanging them for USD OR the new bills

thx keepm for clearing this up...i hate when people get all mad when redenomination (lop) is mentioned......it can go either way and we are all hoping for the best outcome....a redenomination is not out of the picture at all and could be done...could.....i as well as you want a straight up rv.....this article posted is misinterpreted by a few people.....all we can do is wait and see what they do.

Hey thanks for the reply.

A lot of people don't see it the way we do by removing

the larger notes and at the same time revaluing the currency

then releasing the smaller denominations $1, $5, $10 and the $25

bills that have already been printed and are in the banks now

awaiting the RV.

nobody has verified if the smaller bills are in the banks or not..its all hearsay and not a fact...and the way you described it is what gurus are interpreting about these articles...it can go that way or it can be redenominated as they stated lots of times in the past

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