Zekiel Posted September 13, 2011 Report Share Posted September 13, 2011 (edited) A whole new currency IS bad..... if there is a new ISO, because even IF there is 2 or 3 years to trade in the old for the new...... that is a LOP. What we want to see, is NO NEW ISO...... and a 1 to 1 trade in of old notes for new notes...... meaning you get 1000 new 1 Dinars for a 1000 Dinar Note. If there is a new ISO...... then you would only get 1 New Dinar for 1000 Old Dinar. Better hope there is not a new ISO. If not..... then it would be no different than the US, pulling the $1000 Fed Note out of circulation, for $1000.00. If it turns out to be a new ISO...... welll........ then look at Turkey, Nigeria, France, Zimbabwe, Argentina..... Not to fear...... there is no new ISO for IQD. We have too many eyes and ears out there, for that to get past us.... even for an hour. There is no new ISO. The entire internet would know that within seconds, if it were true. Sorry if I stepped on anyones toes...... not my intent. Knowledge is Power Educate Yo'self Edited September 13, 2011 by Zekiel Link to comment Share on other sites More sharing options...
Ridewithme38 Posted September 13, 2011 Author Report Share Posted September 13, 2011 Total BS.. Which Bank? Very well known bank, like this would be a secret!! Good God... what a bunch of crap! "just arrived at a VERY well known bank about 3 hrs ago" I thought i had already mentioned it was Warka? Link to comment Share on other sites More sharing options...
Papster Posted September 13, 2011 Report Share Posted September 13, 2011 A whole new currency IS bad..... if there is a new ISO, because even IF there is 2 or 3 years to trade in the old for the new...... that is a LOP. What we want to see, is NO NEW ISO...... and a 1 to 1 trade in of old notes for new notes...... meaning you get 1000 new 1 Dinars for a 1000 Dinar Note. If there is a new ISO...... then you would only get 1 New Dinar for 1000 Old Dinar. Better hope there is not a new ISO. If not..... then it would be no different than the US, pulling the $1000 Fed Note out of circulation, for $1000.00. If it turns out to be a new ISO...... welll........ then look at Turkey, Nigeria, France, Zimbabwe, Argentina..... Not to fear...... there is no new ISO for IQD. We have too many eyes and ears out there, for that to get past us.... even for an hour. There is no new ISO. The entire internet would know that within seconds, if it were true. Sorry if I stepped on anyones toes...... not my intent. Knowledge is Power Educate Yo'self You make some good points.......but didnt know if you had seen this........between this rumor and this thread on the link........just got some peeps blood pumping.........GO DINAR Link to comment Share on other sites More sharing options...
Danan Posted September 13, 2011 Report Share Posted September 13, 2011 Lord protect us from Men and their names. My son in law has friends that have names for their children like Fisher (because he fishes) Hunter (self explanatory) and Bass need I say more? Word to the wise, stay away from the birth certificate. Just give it to the wife and leave the room. LOL> Link to comment Share on other sites More sharing options...
OhMyGoodnessKate Posted September 13, 2011 Report Share Posted September 13, 2011 (edited) Excellent, we have a rumor backing a rumor. That's good enough for me. Time to look for my coffee can stuffed with IQD. Oh, hug me. That's why I never initially posted a new thread about it since I had no real substance. My point in this post was to state that I've heard the same thing from someone else, and that's why it's not hard for me to believe it. That's all. Edited September 13, 2011 by Markinsa Language: Please see Forum Rules 3 Link to comment Share on other sites More sharing options...
Danan Posted September 13, 2011 Report Share Posted September 13, 2011 (edited) Oh, hug me. That's why I never initially posted a new thread about it since I had no real substance. My point in this post was to state that I've heard the same thing from someone else, and that's why it's not hard for me to believe it. That's all. You have to take this bunch with a grain of salt. Just let them poke you and move on. Edited September 13, 2011 by Markinsa Language in Quote 1 Link to comment Share on other sites More sharing options...
OhMyGoodnessKate Posted September 13, 2011 Report Share Posted September 13, 2011 You have to take this bunch with a grain of salt. Just let them poke you and move on. I know I know... I just like to occasionally poke back, that's all 2 Link to comment Share on other sites More sharing options...
horns Posted September 13, 2011 Report Share Posted September 13, 2011 (edited) Oh, hug me. That's why I never initially posted a new thread about it since I had no real substance. My point in this post was to state that I've heard the same thing from someone else, and that's why it's not hard for me to believe it. That's all. Edited September 13, 2011 by Markinsa Language in Photo & Quote Link to comment Share on other sites More sharing options...
Papster Posted September 13, 2011 Report Share Posted September 13, 2011 Ha Ha, she said Blow Me. ------- So Says.................DayTrader lol.....GO DINAR Link to comment Share on other sites More sharing options...
umbertino Posted September 13, 2011 Report Share Posted September 13, 2011 (edited) Quote then look at Turkey, Nigeria, France, Zimbabwe, Argentina..... End Quote Different Countries and very different situations.......If I recall correctly, Zimbabwe has Million-denominated Notes.... Edited September 13, 2011 by umbertino Link to comment Share on other sites More sharing options...
Choppermike Posted September 13, 2011 Report Share Posted September 13, 2011 (edited) Ha Ha, she said hug Me. ------- So Says.................DayTrader Hey,hey, hey. I got my "blank" whacked by a moderator for using a four letter acronym that begins with a S and ends with a U. Got verbally warned, I did. Edited September 13, 2011 by Markinsa Language in Quote Link to comment Share on other sites More sharing options...
OhMyGoodnessKate Posted September 13, 2011 Report Share Posted September 13, 2011 Hey,hey, hey. I got my "blank" whacked by a moderator for using a four letter acronym that begins with a S and ends with a U. Got verbally warned, I did. are you a tattle tale? 2 Link to comment Share on other sites More sharing options...
OldSignalOfficer Posted September 13, 2011 Report Share Posted September 13, 2011 Interesting...Maybe they were just trying to get me to stop emailing them over and over again...making up a story about currency being delivered and bank personal being trained...so that they'd sound busy and i'd leave them alone I think your name says it all, you want to take us all on your fairytale ride. By the constitution, parliament has to approve all money that is spent at the CBI. Parliament has not yet approved the purchase of the new currency by the CBI. With today's push-back by some of the factions within parliament, I don't know that funding for the new currency will happen this week or even next. It's all a waiting game. I'm hoping like the rest, but this post was just foolishness. I'm going with your statement that "...they were just trying to get [you] to stop emailing them over and over again..." GO RV! Link to comment Share on other sites More sharing options...
OhMyGoodnessKate Posted September 13, 2011 Report Share Posted September 13, 2011 If that's you in your Avatar I'd love to. Where do I start? Blowing that is It is, it is... Do me a favor and start blowing in the GOI direction... once the RV happens, then we'll talk 1 Link to comment Share on other sites More sharing options...
Heinzy444 Posted September 13, 2011 Report Share Posted September 13, 2011 I think your name says it all, you want to take us all on your fairytale ride. By the constitution, parliament has to approve all money that is spent at the CBI. Parliament has not yet approved the purchase of the new currency by the CBI. With today's push-back by some of the factions within parliament, I don't know that funding for the new currency will happen this week or even next. It's all a waiting game. I'm hoping like the rest, but this post was just foolishness. I'm going with your statement that "...they were just trying to get [you] to stop emailing them over and over again..." GO RV! Good job, well said. No need to blow me Link to comment Share on other sites More sharing options...
LS1Hawk Posted September 13, 2011 Report Share Posted September 13, 2011 Congratulations! Advice from my Uncle (huge Raiders fan)..."Boy or girl, Raider makes the prefect middle name" Hahahaha. Ahhh, let me throw that by my wife and see what she says. Link to comment Share on other sites More sharing options...
Heinzy444 Posted September 13, 2011 Report Share Posted September 13, 2011 (edited) It is, it is... Do me a favor and start blowing in the GOI direction... once the RV happens, then we'll talk Sweet, I'm blowing like a Hoover sucks - very efficiently. Please wait up Edited September 13, 2011 by Heinzy444 Link to comment Share on other sites More sharing options...
caz1104 Posted September 13, 2011 Report Share Posted September 13, 2011 Hey,hey, hey. I got my "blank" whacked by a moderator for using a four letter acronym that begins with a S and ends with a U. Got verbally warned, I did. No one likes a snitch If that's you in your Avatar I'd love to. Where do I start? Blowing that is Cold shower needed on isle 9 1 Link to comment Share on other sites More sharing options...
jbest Posted September 13, 2011 Report Share Posted September 13, 2011 a whole new currency is bad.... My thoughts exactly. How can exchanging a 25,000 note for a 25 note be good news? Even if the new currency is worth 1000x more, if you have 1000x less of it, the net value is the same. Link to comment Share on other sites More sharing options...
Heinzy444 Posted September 13, 2011 Report Share Posted September 13, 2011 No one likes a snitch Cold shower needed on isle 9 LOL LOL ...yes ...quick. Link to comment Share on other sites More sharing options...
Ridewithme38 Posted September 13, 2011 Author Report Share Posted September 13, 2011 My thoughts exactly. How can exchanging a 25,000 note for a 25 note be good news? Even if the new currency is worth 1000x more, if you have 1000x less of it, the net value is the same. Yes, its a neutral move....But don't forget its a direct exchange within a limited time frame....What this means is they are ONLY giving out what they get back in...Right now my estimate is that there is about 30 trillion physical dinar and 30 trillion random(bank accounts, etc.) in circulation with about 58 billion foreign reserves backing it....now is EVERY SINGLE dinar is exchanged...its down to 30 billion...But odds are every single one won't be exchanged...lets assume 99% gets exchanged...now its only 27 billion in circulation and 30 billion random with the same 58 billion backing it now lets look at the math 60 trillion dinar with 58 billion backing it is .00096 or 1034 to 1 with 57 billion dinar with 58 billion back it....it goes to 1.01 or about .98 to 1 Now lets look a little deeper to how it REALLY effects the exchange rate in the long term Lets say Iraq was about to raise their reserves by 2 billion...lets see how that effects exchange rate 60 trillion dinar with 60 billion back it.... is .001000 or 1000 - 1 an increase of .14cents per dinar 57 billion dinar with 60 billion backing it ... 1.05 or Wow, i think all my numbers are off! Damn it! I'm gonig to have to repost this...the point i was making is with less physical currency in circulation, small increases in reserves can have a BIG impact of Exchange rate Link to comment Share on other sites More sharing options...
jmw Posted September 13, 2011 Report Share Posted September 13, 2011 the point i was making is with less physical currency in circulation, small increases in reserves can have a BIG impact of Exchange rate Thanks for the original post and the follow ups....personally I think you are on to something...and you make a very good and important point...as their reserves increase it will allow a much quicker growth in value with a lower M2. Not going to get people rich but turn a nice profit. Link to comment Share on other sites More sharing options...
RER10 Posted September 13, 2011 Report Share Posted September 13, 2011 Source & well known bank? Link to comment Share on other sites More sharing options...
sfredieu Posted September 13, 2011 Report Share Posted September 13, 2011 Cbi did not jump the gun, the new currency was approved long ago when they settled the issue about letting Maliki be pm,they agreed to print a new currency with the kurdish language on it,that was one of the issues that was settled.they have to print that new currency.now what the parliament is approving is the deletion of the 0's.,it doesn't matter if the remove the zero's or not they had to print the new currency,they also keep saying how they need to do this right away,so it is not a surprise that shabibi already printed those small denoms because without them he can't change the exchange rate and he knew what his deadline was to get this RV done and he is a very smart and successful man and he plans ahead that's why he have the job he got. Link to comment Share on other sites More sharing options...
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