safetymankwj

My cousin works for a bank clearing house in Louisiana and she sent me a text Wed saying Ez4x will stop buying Dinar april 30th. She said she did not for how much just getting the deadline email but here is a number that was on the email for questions 877-393-6739 if anyone wants to see i have not had time to call yet

maybe i have a different take on this but in my mind they would rv to increase the value for the people then as stated they will faze out or remove the large denomination bills hence removing 3 zeros form the currency.

actually when i created this thread It was meant to debunk the lop and I believe they will reval the dinar. The intent was to show that they could not do the same as venezula because they are not set up for it. My read is when they reval the 25K bill will not equal the $25 dinar note. It will equal 1000 $25 notes. you will have to trade it in to get the smaller denomination bills thus the cbi pulling them out of circulation. My counter to the LOP is they already have the smaller denominations in circulation and we have heard nothing to say they have printed "new" dinar. We would have heard this and the companies using the Delarue machines would have received a software upgrade to accomodate this new bill with different security features. Have not heard any news on this. They are having storage problems with the current currency and i cannot imagine how they would handle storage with two different currencies at the same time for a year.

yes but my point is as in the venezula redom they printed a completely new currency different design and everything the note Iraq is discussing is from the same issue as what is current. Countires cannot arbatraliary deciede (unless they care nothing obout their people) that on Friday the 1 dollar note that already exist will on Monday be the same value as the 1000 note. My understanding these notes alrady exist in Iraq but not used frequently due to the exchange rate. The $50 dinar coin would overnight become worth the same as the 5000 dinar note. If this would be the case then everyone would be making a mad rush in country right now for the small denom bills before it would Redonomination.

If it is drying up then who bought the 186 million us dollars of it yesterday at auction?

one thing to remember is that in all of the redenomination articles there was new bank notes introduced into the system and they were called a different name. They were used in the same period as the larger notes and the "new" currency was equal to the old or previous currency. http://www.cbi.iq/index.php?pid=Banknotes This would lend credence to to fact that they will not loop but they will both be legal tender at the same time. It will naturally move to the lower denomination due to the purchasing power of the 25k note which will not be used as much (no one will want to keep change for it in small shops)and will be traded in at the banks for the lower deniomination notes as a matter of convenience. I really do not believe they will even get rid of the permnetly but hold them and otther countires will hold them as foreign currency reserves. But this is just my opnion. Would look forward to hearing opnions either pro or con to the above information.

wish I could spell better trying to get thoughts out of my head.

one thing to remember is that in all of the redenomination articles there was new bank notes introduced into the system and they were called a different name. They were used in the smae period as the larger notes and the "new" currency was equal to the old or previous currency. The naotes that the iraq governemnt is speaking of usiin is not a new note and was printed at the same time the previous notes were printed. There is no new name or term ofr them and they are leagal tender right nowe you can go see them on the CBI website. This would lend credence to to fact that they will not loop but they will both be legal tender at the same time. It will naturally move to the lower denomination due to the purchasing power of the 25k note which will not be used as much (no one will want to keep change for it in small shops)and will be traded in at the banks for the lower deniomination notes as a matter of convenience.

this should be it so yea.....

I would think even in this day and age with electronic movement of money you still have to have the hard asset (paper money) in a bank t back the electronic money. And I would also think that the larger bills would be kept but moved out of circulation and into those banks as hard assets. Here in the US they still print and use large value currency but it is strictly used for movement between banks and never used or released to the general public. I would think they would draw the lrge denominations in duringthe RV and store them and then print the small denomination bills as they need them. I just wonder if there is a static amount of money and as they print smaller denominations they would have to take out the same amount in large bills to always insure they have the backing to cover a set amount. I am not sure what Iraq uses as backing for their money but I am scared if it is the same as ours. Does anyone know what backs their money. I do not think it would be gold anymore but what?

heres looking foward to chatting some

i guess my last post did not go through

hey that cool this gets me halfway there tooooooo

At least everyone sounds up beat and having fun with this

I would assume that the pay would reset itself in line with the new rate according to the origional intent for the value of this position. Is sounds like members of their parliment or kinda like state legislatures in the fact this is not their primary occuaption. When you have to get the police to escort them and insure they make the meeting and votes it sounds like it is not a primary occupation. State legislatures herein the US only go to the capitals for sessions and this is not their only source of income.

For some reason I thought after reading the info on the what it will take for removal of Chapter 7 was to have an established recognized tradeable currency before the chapter 7 was removed and right now they don't.

Has China agreed and signed off on the bebt forgiveness or they still negotiating the issue? I thought i read they were still negotiations.

Hi All, Just wanted to get the 10 post counted and see what is up in the chat room. Have enjoyed reading the info here for a while and finally coming out of reading only status.