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The new RD Currency is sitting in the banks...


Ridewithme38
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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 by Zekiel
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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

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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>

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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 by Markinsa
Language: Please see Forum Rules
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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 by Markinsa
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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 by Markinsa
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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!

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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 :)

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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

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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

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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.

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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.

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