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Everything posted by alan_coaks_3

  1. what are talking about ? i have never said anything about keep having secret sources. i think you may have me confused with someone else
  2. redenomination refers the removal of zeroes from a currency. dropping zeros enhances book-keeping and reduces the drudgery in transactions, record keeping and banking activities.
  3. if they say ur old dinar will be exchanged at 1000 to 1 that wont change at all in the 2 years. it will always stay the same
  4. zul he means that if the old dinar we have is exchanged at 1000 to 1 new dinar that means the new dinar would only be worth 86 cents. not ours we would have to give 1000 of our dinars
  5. were all betting against Al Shabibi and what he says will happen to the dinar
  6. not really yeah that ONLY the New dinar will be worth 86 cents each not ours
  7. lol i don't get my info from other i get them for the articals that are coming out.
  8. how can so many people not get what this says its so clear. there saying 1000 of are old dinar for 1 new dinar
  9. My link here the link Mahma Khalil, another Member of the Iraqi Parliament and official spokesperson of the Economic Committee says an agreement has been reached about the mechanisms of introducing the new banknotes after a series of meetings and discussions with the CBI Governor Dr. Sinan Al Shibibi. "According to the agreements, the new bill will be printed by a European company and introduced to the market gradually and in a well-planned schedule to ensure it will not result in shocks and would not have a negative impact on the market," explained MP Khalil. He added the exchange rate between the new banknotes and the old ones would be 1:1,000.
  10. Redenomination leads to greater confidence in the currency. After redenomination, businesses and citizens may be more willing to shift their preference to the local currency rather than to an international currency. Hence, the dropping of zeros restores credibility and confidence in the local currency and enables the government and the central bank to reassert their monetary sovereignty. Redenomination is sometimes used to indicate that era of failed economic policies has come to an end and that the economy is poised to start on a new slate. This helps to increase confidence in the economy and sends a signal to both the local community and the international markets that high inflation and general macro-economic instability are a thing of the past. dropping zeros enhances book-keeping and reduces the drudgery in transactions, record keeping and banking activities.
  11. remember when i said that the cbi goal is to make the dinar 1000 to 1 dollar now if they get to that then exchange our dinars at the rate of 1000 to 1 new 1 whice would make the new dinar 86 cents
  12. if they do that 1000 or are dinar for 1 new dinar that would make the new dinar worth 86 cents not ours. when country RD there currency the exchange rate stays the same the only thing that changes is what our old dinar exchange will be worth it will either be 1 to 1 or 10 to 1 or 100 to 1 or 1000 to 1
  13. we all know for sure they will get arid of the 3 zeros on the new banknotes. there was an artical posted about 2 months or less ago about how the Central bank of iraq goal is to get the iraqi dinar exchange rate to 1000 dinars to 1 dollar. they want to make a new currency that is less counterfitable cause there been alot of counterfiter out there that are making the current dinars.
  14. Mahma Khalil Member of the Iraqi Parliament and official spokesperson of the Economic Committee & CBI Governor Dr. Sinan Al Shibib Said agreed the exchange rate between the new banknotes and the old ones would be 1:1,000.
  15. 7 - 4 - 2012 Iraqi Dinar Investments: Opportunity or Scam? Better Business Bureau (BBB) is warning consumers across the country to be wary when considering any foreign currency investment, particularly the Iraqi dinar. Over the years, BBB complaints nationwide about dinar investments allege a number of scams surrounding the profit potential of dinar currency investments. For this reason, BBB advises consumers looking to buy dinar to familiarize themselves with the most popular scams involving Iraqi dinar and recommends making an informed decision. According to the U.S. Commodity Futures Trading Commission (CFTC), the growing number of investment opportunities in recent years has been accompanied by a spike in foreign currency trading scams. While there are legitimate firms that trade foreign currency in foreign exchange markets, others utilize promises of large profits, religious associations, and charity affiliations to take consumers’ money. “The web is filled with promises of making millions of dollars by investing in Iraqi currency,” said Catherine Ralls, BBB Trade Practices & Investigations Specialist. “Consumers should know that investing in promises of fast profits from currency trades could lead to potential losses.” BBB provides the following tips to those considering investing in Iraqi dinar: ● Verify the product: To avoid buying counterfeit foreign bank notes, purchase currency from dealers registered with the U.S. Treasury as a Money Services Business (MSB). However, registration is not a reflection of experience in trading currency nor does it entail any qualifications on the part of the dealer, other than basic anti-money laundering requirements. Also, make sure you are receiving new dinar introduced in 2003; old dinar has a picture of Saddam Hussein. ● Be informed about exchange rates and fees: Iraqi dinar sells online in various denominations for a wide range of prices. Since Iraqi dinar does not trade freely in international markets, it is difficult to find objective exchange rates. The current exchange rate at the Central Bank of Iraq is 1170 dinars per US dollar. Consider the fees charged by dealers, which ultimately affect the price paid for dinar. Sellers have made a substantial amount of money through currency conversion fees they charge buyers. ● Be skeptical about predictions: The announcement that Iraq wants to delete three zeros from its currency has many believing the ‘revaluation’ will instantly give them 1,000 times the profit on their original investment. However, it is likely Iraq will issue new currency, exchanging 1,000 dinars for one new dinar if they delete three zeros. While some sellers foresee the Iraqi currency substantially increasing in value, currency investors face considerable risk. If Iraq inflates its currency or devalues it, the value of the dinar could plummet. Further civil strife may also put downward pressure on the Iraqi currency. ● Don’t mix apples with oranges: Some sellers hype the dinar as an investment opportunity by citing the rise in the value of the Kuwaiti dinar after the Gulf War and the German mark after WWII. Neither Kuwait nor Germany had a free-floating currency. Their value was mostly a function of official policy. An economy in Iraq’s situation - with an unstable government, acts of terrorism and widespread corruption - is likely to experience a currency crash or international devaluation. ● Watch out for unsubstantiated, sweeping statements on religious or charity affiliations: Statements such as “pray for advice from God before making a purchase” or “our company has committed 10% of the profits towards providing for military based charities,” can be used in an attempt to connect with consumers and entice them to invest in dinar. Other statements such as “everybody will want to get in on this,” are also used. However, remember there is currently no active market for dinars - you can buy them, but can you sell them? Consumers are advised to avoid “opportunities” marketed by unregistered advisers to inexperienced currency investors. Legitimate opportunities should disclose all risks and avoid modifying or fabricating performance history to make an opportunity look better than it is. My link
  16. 7 - 4 - 2012 Member of the parliamentary Finance Committee and a Deputy from the Kurdistan Alliance organization that controls established by Mustafa Central Bank on the currency changeover took place in coordination with the Iraqi Government. Mustafa/JD/that "Central Bank instructions and controls on new currency switch process in coordination with the Iraqi Government and informed deputies to reduce forgery during the replacement process. "The Finance Committee discussed with the Central Bank's controls for process easily and smoothly without negatively affected the price of the new currency or allow fraudulent currency trading.". Mustafa said "the Committee also discussed how to help mode that allows the application of the replacement currency without falsification.".Without that reveals these controls, which are confidential cases.. The Central Bank said the new Iraqi currency a day after deleting zeros in January ... Central Bank Governor Sinan Al-Shabibi/JD/"Bank will put up new Iraqi currency after deleting three zeros in 1/1/2013.". The Central Bank Governor said "there are many procedures and many misgivings on its implementation of the Bank is keen to be a safe and easy exchange.". The parliamentary Finance Committee revealed earlier Central Bank contracted with major companies to print the currency of high quality paper. " She is a member of the parliamentary Finance Committee Magda Tamimi "cost actions devoted to switch currency at 150 million dollars. She noted that the "switch currency withdrawals be gradual through the check-in process at banks," "currency be withdrawn gradually and not once as in the previous switch.". Tamimi noted that "the Finance Committee as a follow-up to the work of the Central Bank and abreast of what is going on with the printing of the new Iraqi currency. "The Finance Committee member of" parliamentary speech, "Central Bank Governor Sinan Al-Shabibi" deposit in banks when switching the currency would be in one place and controlled to protect the currency from counterfeiting. My link
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