dstem

I don't post very often at all but I figure I could throw in some input......and believe me when I say that I really don't know how this will all play out but the myriad of articles do also say that "by the end of 2013" so deduction of 6 month phases and total of three phases...well I guess maybe you see what I am getting at in terms of trying to figure out timelines. So my guess is they still have a little time to start the other phases....if of course you believe the articles/statements.

Yeah I never got the lower demon stuff...... currency is currency. He says use different strategies but there is no way around what they are proposing. IMO

Going out on a limb here but I have listened to Breitlings audios, pretty much all of them. BUT I agree with dinarck when he reads the recent articles he totally misses the mark on the potential difference of understanding and does not even mention what the possibilities are IMO. He totally just says what he wants to hear. I respect him but disagree with recent interpretations and would love to call him and call him out some of these possible misinterpretations and have a two way conversation with him backing his statements with FACT.

Drox It seems you could be right on the money with your projection and analysis.....very well written. I do agree with your 100,000 note based on some of the articles and it would seem to ease the burden on some transactions. Thanks so much for the great post.

RIGHT ON!!!!!

Yeah with these latest articles it would seem they have a little bit more of a plan than just to redenominate before an rv.......Which is a good thing lets just hope we can still make the windfall we been hoping for.....I think we will see what happens soon and then we will know for sure.

Yeah I know it seems from one article they would be releasing lowers but in this article it would seem they plan to release a higher demon but WHO KNOWS........

in the short term, larger banknote denominations of the dinar will be issued to simplify major transactions. He said that because so many Iraqis still deal mainly in cash, it is cumbersome to carry bags full of money to pay for expensive items like cars. The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end. He added that large denominations equivalent to around $100 will be issued to simplify major purchases, and new coins and lower denominations will be introduced for smaller transactions. To me that means in the short term add a 100,000 note and maybe a small rv or none at all for a while...imo

Or a 100,000 dinar note but yeah I agree if this is correct

Exactly!!!!

Its saying that in the short term they need bigger bills at the current value of the dinar to use effectively IMO.

$100,000 dinar maybe??? Hard to understand what they really are going to do.

Article 2 BAGHDAD -- A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq (RFI) reports. Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFI on June 23 that in the short term, larger banknote denominations of the dinar will be issued to simplify major transactions. He said that because so many Iraqis still deal mainly in cash, it is cumbersome to carry bags full of money to pay for expensive items like cars. The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end. He added that large denominations equivalent to around $100 will be issued to simplify major purchases, and new coins and lower denominations will be introduced for smaller transactions. In the longer term, Saleh said a redenomination is needed wherein three zeros will be dropped so that the 25,000 Iraqi-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note. He said the change is inevitable, considering the economy is expecting high growth in the coming years with a planned increase in oil production to finance reconstruction projects. Saleh said there are currently some 29 trillion dinars in circulation in Iraq, represented by some 6 trillion banknotes of various denominations, most of them quite small. He said this also causes complications for the central bank and government, as well as commercial accounting departments. Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund (IMF), of which Iraq has been a member since 1945. The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament. Saleh noted that until 1980 the Iraqi dinar exchange rate was 1 dinar/$3.3 compared to $1/1,168 dinars now due to hyperinflation that occurred during the latter part of the late ousted leader Saddam Hussein's reign. Read more: Might not what you Think