Central Bank plans to launch three categories after deletion of zeros from the Iraqi dinar

[Wheeler]

As I said, they go wherever and do whatever they want around here.

Well, there are other threads on the Forum. And I don't believe I am the only party guilty of a personal attack. But if it works, why fix it?

I think most of us are intelligent to the point where if we do not understand what an article is saying, as, in this instance, the article clearly speaks of a LOP, we will simply, humbly ask: What is this article saying?

Are you new to the dinar world? 90% of people interpret all three zero articles as proof of an RV, including numerous people in this very thread.

We do not need some snarky interloper in a didactic tone "telling" us what we can reasonably read for ourselves. I have thought about how I could combat this phenomenon, and today I tried a new tactic. I think it worked rather well, if I must say so myself.

If you making arguments so devoid of logic that they would make Okie blush = worked rather well, then I agree.

[Sanssouci]

Are you new to the dinar world? 90% of people interpret all three zero articles as proof of an RV, including numerous people in this very thread.

Perhaps. Would you call yourself a dinar veteran? Congratulations. I'm sorry.

If you making arguments so devoid of logic that they would make Okie blush = worked rather well, then I agree.

You paint with a pretty broad brush, Wheeler. I guess you get your work done faster that way.

[truthful1]

Perhaps. Would you call yourself a dinar veteran? Congratulations. I'm sorry.

You paint with a pretty broad brush, Wheeler. I guess you get your work done faster that way.

Is there an off button somewhere???

[fnbplanet]

I still love this article.

Wait. There was an article? What did I miss?

just kidding....

[tigerstripes]

So.......did anybody ask the question about the ten years part?

Could somebody remind me what the average life of a note is in Iraq?

[SSI]

So.......did anybody ask the question about the ten years part?

Could somebody remind me what the average life of a note is in Iraq?

I had posed that a couple of pages back but got virtually no response other than someone telling me that it HAD to be a typo and was irrelevant. Maybe, but I am not so sure.

[zigmeister]

So.......did anybody ask the question about the ten years part?

Could somebody remind me what the average life of a note is in Iraq?

From my understanding maybe a year or so. Because so far it is cash to cash, no cards and so forth.

[tigerstripes]

I had posed that a couple of pages back but got virtually no response other than someone telling me that it HAD to be a typo and was irrelevant. Maybe, but I am not so sure.

Sorry SSI, I had a hard time wading through the 19 pages of......well, you know.

I have two questions about this article.

One. Why ten years? Notes don't last that long.

Two. What do they need a 200 dinar note for? They keep talking about their great new electronic system that is going to take over the cash currency, so why do they need a 200? Just wondering how many people use hundreds in our countries as a matter of daily transactions. I know my wallet doesn't see many of them. Actually, my wallet doesn't often see much over a 20. The occasional fifty, and very, very rarely a hundred.

If the goal is to get the dinar to parity with the $US or better, then pricing for goods is supposed to roughly equivalent as well. Take into account that current average wage is only $5,000.00 and their predicting the average wage increasing to $10,000.00, as well as their great new electronic system, I don't see the need for a 200. Unless they're expecting inflation after they do whatever the hell they plan on doing.

[zigmeister]

Sorry SSI, I had a hard time wading through the 19 pages of......well, you know.

I have two questions about this article.

One. Why ten years? Notes don't last that long.

Two. What do they need a 200 dinar note for? They keep talking about their great new electronic system that is going to take over the cash currency, so why do they need a 200? Just wondering how many people use hundreds in our countries as a matter of daily transactions. I know my wallet doesn't see many of them. Actually, my wallet doesn't often see much over a 20. The occasional fifty, and very, very rarely a hundred.

If the goal is to get the dinar to parity with the $US or better, then pricing for goods is supposed to roughly equivalent as well. Take into account that current average wage is only $5,000.00 and their predicting the average wage increasing to $10,000.00, as well as their great new electronic system, I don't see the need for a 200. Unless they're expecting inflation after they do whatever the hell they plan on doing.

You are right and spot on. The whole article was crap. What country allows ten years? Get outtta here! They don't.

[patriotic party girl]

Sorry guys,

but the first 5 pages of this thread had some good ideas, conversations, and logical debate about what this article entailed, since then it has been a disaster. If you have any personal vendettas, discourse over dialogue, one-ups-manship, etc., I think I speak for a silent majority to just take it outside and may the best man win. My time is valuable as is everyones, but I would rather seek information and substance than watching folks try to out-manouver each other. Just my .02

AMEN BROTHER

[40oz]

Don't shoot me. It sounds like they want to have the new 25s = the old 25,000 for a couple of years and then dump the 25ks.

Ya prolly'. Cool man, see you tomorrow...

[Hawaii 50]

IF PEOPLE REMEMBER-Gov Shabibi was the person who TOLD DEPUTY Mohammed Saleh IT COULD TAKE UP TO 2 YRS TO HAVE ALL THE LARGER NOTES TURNED IN . SIMPLY BECAUSE THEY HAD NO IDEA WHERE THEY ALL WERE . THATS WHERE THE2 YR PLAN COMES INTO EFFECT.

Sorry for the caps. Shadow

TRue It is education to the iraq population. The fact still remains that we have purchased our notes for what the face value is 25K note is still going to be 25k they would have to offer something such as an exchange for your notes. There are so many people all around the world invested in this. To put it plain and simple the GOI is not going to make your notes worthless in one swoop. They still will RV then give time before start to switch over the purchasing power of the new denominations.

Ya prolly'. Cool man, see you tomorrow...

Thats what i've been saying all along it holds just as much power as the 25k note, which means we will have our Rv with our 25k notes worth whatever the exchange rate turns out to be.

[keepmwlknfny]

You are right and spot on. The whole article was crap. What country allows ten years? Get outtta here! They don't.

Turkey is.....

Atatürk reappeared on a subsequent series of notes in the early 1950s. The 2½ lira notes were replaced by coins in 1960, with the same happening to the 5 and 10 lira notes in 1974 and 1981. Higher denomination notes were introduced during the 1980s and 90s: 5000 lira in 1981, 10,000 lira in 1982, 20,000 lira in 1988, 50,000 lira in 1989, 100,000 lira in 1991, 250,000 lira in 1992, 500,000 lira in 1993, 1,000,000 lira in 1995, 5,000,000 lira in 1997, 10,000,000 lira in 1999 and 20,000,000 lira in 2001. The higher values of the "E7 Emission Group" banknotes (1992 250,000 TL and later and higher value notes) are exchangeable for new liras at a rate of 1,000,000 lira to 1 new lira at branches of the Central Bank of the Republic of Turkey until 31 December 2015, after which time they will have no value.^[4] The 50,000 lira note ceases to be redeemable on 4 November 2009, and the 100,000 lira note on 4 November 2011.^[5]

[yota691]

THE CIRCUS IS IN TOWN AND ITS IN IRAQ..its free to

Regardless of a RV how abut you go to Iraq an live in them condition, it a shame that you think this is a circus when you have people dying everyday in Iraq. Soldiers that put it on the Line for you, an some made the ultimate sacrifice. Please Think about what you say!!

[zul]

IF Iraq is going to LOP, then why would CBI be giving away 250 million USD daily during aucitons just to get dinar back.....

So...CBI recycled them back by exchanging them with GOI for paying salaries, bill.....and all. But they were doing OK with 150 million USD daily auctions. So what is the daily surplus of 100 million USD for...?

If i am CBI, and i am going to LOP...I see no reason why i would want to part ways with my 250 million USD daily....

Edited January 15, 2012 by zul

[Bumper64]

You guys are going to drive me to drinking!!

Debate without name calling! (Back a few pages)

PLAY NICE!!!!

[yota691]

I still love this article.

me 2

Turkey is.....

Atatürk reappeared on a subsequent series of notes in the early 1950s. The 2½ lira notes were replaced by coins in 1960, with the same happening to the 5 and 10 lira notes in 1974 and 1981. Higher denomination notes were introduced during the 1980s and 90s: 5000 lira in 1981, 10,000 lira in 1982, 20,000 lira in 1988, 50,000 lira in 1989, 100,000 lira in 1991, 250,000 lira in 1992, 500,000 lira in 1993, 1,000,000 lira in 1995, 5,000,000 lira in 1997, 10,000,000 lira in 1999 and 20,000,000 lira in 2001. The higher values of the "E7 Emission Group" banknotes (1992 250,000 TL and later and higher value notes) are exchangeable for new liras at a rate of 1,000,000 lira to 1 new lira at branches of the Central Bank of the Republic of Turkey until 31 December 2015, after which time they will have no value.^[4] The 50,000 lira note ceases to be redeemable on 4 November 2009, and the 100,000 lira note on 4 November 2011.^[5]

The 50,000 lira note ceases to be redeemable on 4 November 2009, and the 100,000 lira note on 4 November 2011, so you swap the currency if you had in possession these last two notes? Edited January 15, 2012 by yota691

[fnbplanet]

IF Iraq is going to LOP, then why would CBI be giving away 250 million USD daily during aucitons just to get dinar back.....

So...CBI recycled them back by exchanging them with GOI for paying salaries, bill.....and all. But they were doing OK with 150 million USD daily auctions. So what is the daily surplus of 100 million USD for...?

If i am CBI, and i am going to LOP...I see no reason why i would want to part ways with my 250 million USD daily....

I couldn't agree more.

[tigerstripes]

Turkey is.....

Atatürk reappeared on a subsequent series of notes in the early 1950s. The 2½ lira notes were replaced by coins in 1960, with the same happening to the 5 and 10 lira notes in 1974 and 1981. Higher denomination notes were introduced during the 1980s and 90s: 5000 lira in 1981, 10,000 lira in 1982, 20,000 lira in 1988, 50,000 lira in 1989, 100,000 lira in 1991, 250,000 lira in 1992, 500,000 lira in 1993, 1,000,000 lira in 1995, 5,000,000 lira in 1997, 10,000,000 lira in 1999 and 20,000,000 lira in 2001. The higher values of the "E7 Emission Group" banknotes (1992 250,000 TL and later and higher value notes) are exchangeable for new liras at a rate of 1,000,000 lira to 1 new lira at branches of the Central Bank of the Republic of Turkey until 31 December 2015, after which time they will have no value.^[4] The 50,000 lira note ceases to be redeemable on 4 November 2009, and the 100,000 lira note on 4 November 2011.^[5]

Smarty. Trust you to have the answer.

I guess that means we don't have to worry about them closing the border then.

Whatcha got for question number 2??????

[MANNY99]

so base on this article the rate should be $.86.

Now if they lop(it is not happening) that's mean their 30TD will go down to 30BILLION DINARS.

we all now that the budget is about $100B =117B IQD after the new rate.

so as you see they will have a big problem with money supply if they lop.that is why cbi will rv and not lop.

you can't compare Turkey to iraq

what was the exchange rate of the turkish lira before they lop?

[magusninex9]

Smarty. Trust you to have the answer.

I guess that means we don't have to worry about them closing the border then.

Whatcha got for question number 2??????

gentlemen .. the circus I spoke of is people believing that a Iraqi politician has stated things based on a big picture reality .. don't take it as if it where a issue of your being a vet and .. sepr fi .. issues .. this was a Iraqi politician saying they are going to LOP their currency ... this is maybe a fact .. they are in control of such things because it now their country not ours any more .. and thats a fact ..

what your all not getting is that their is not enough oil sales to the U.S. specifically to justify the auction deficeit amonts that you are buying the propaganda that the Iraqi is using the oil sales to get the hard cash they are getting for the currency auctions they hold weekly ..

the currency auctions are doing their job appaerently... because your buying this rediqulous game and several of you have stated earlier that OIL SALES PROVIDES THE HARD CASH? .. THEY ARE USING IN THE CURENCY AUCTIONS..

Guys ..??? they are selling Iraqi Dinars and buying U.S. DOLLARS .. and selling their oil internationally to be able to use some of the revinue for this auction.. but when you run the figures even the cash auction figures versus the ECONOMY COSTS THEY HAVE NOW ... SOMETHING IS DEFINITLY WRONGE .. THIS MEANS THE SENARIO YOUR LED TO BUY AND BELIEVE IS A LIE.. BIG LIE! OK?? don't be stupid .. be smart !

! its ok to be dumb once .. but being stupid is a real problem of ignorance .. and math is a basic to all schooling because its not easily fooled with and not obviouse.. when 2 + 2 .. is sad to be 20 .. because of oil sales so you can cover up Cash shipments to support some fellows taking oil for nothing ?? your stupid if you believe this ..

if we in the U.S. want a R- V ... then stop the hard physical dollar bills being sent to Iraq to support these auctions with ..

this will start a number of things and one will be a R - V .. so the Dinar will be at .86 .. that is 86 cents to a dollar per Dinar .. and this will replace the dollar as the prefured currency in days especially if a high denom note is out their to get .. and take to the C.B.I. and get a plastic carde so you don't get mugged for carrying it ..they all will deposit the high denoms and the C.B.I. is no longer cash poor and then doesn't need the dollar auctions ..

but .. right now the present government has the people dirt poverty and only a few are prospering .. and as long as the U.S. keeps shipping the cash .. and the few in power are in charge of the oil pump .. they have a monogly on the government and this will never change

they don't need to re value right now and don't kid your self's that they are politicians their to represent the Iraqi citizen .. thats totally not whats going on or the ecomomy would be sharing in the oil revinues at the citizen level .. Alaska sends a dividend check to Alaskans .. if your a Iraqi and you want this ecomomy to cure you send each citizen a dividend check on the oil sales and you ..RE EVALUATE YOUR CURRENCY .. THEY THUS HAVE A STOCK IN THE ECONOMY AND IN THEIR CURRENCY .. BUT .. If your a Iraqi politician .. you LOP THE DINAR and you keep the people poor and .. rape the recoarces ..

all on the American Buck ?

also their was a ... WOMAN ACCOUNTANT A IRAQI SHE REPPORTED TO PARLAMENT LAST WEEK THAT THEIR IS TRILLIONS IN BAD ACCOUNTING AS TO NOT MISSING DINAR AS MILIKI THOUGHT .. IT IS SHE SAID BAD ACCOUNTING OF OIL SALES AND THIS MADE IT APPEAR AS PEOPLE HOARDING CASH ASSETS OF THE DINAR ..

THUS YOUR PROOF .. A HONNEST IRAQI ACCOUNTANT REPORTING TO PARLAMENT LAST WEEK .. A WOMAN TELLING THEM THEIR IS BAD ACCOUNTING WITH REGARDS TO THE OPIL SALES ..

AND .. do you really believe ?? .. we the U.S. is the only country buying oil .. .. this would be stupid not dumb.. if youve been over their .. ok?

so if you state the auction is backed by oil sales ? .. REMEBER SIR .. THEY THE IRAQI .. IS SELLING THE DINAR .. TO AQUIR DOLLARS .. THEY ARE NOT AQUIRING DOLLARS FROM OIL SALES TO SELL FOR NINARS TO RUN THEIR ECOMOMY ON ?

that is defined as stupid .. and it defies logic and the truth ? ... its stupid to say they are selling oil to support the auctions ..ok

we need to stop the currency ayuctions and then the curent Iraqi regime-government has no time to re denominate their curerency and they are forced to re value to at least the U.S. DOLLAR ... THIS IS REAL SOLDIER AND THIS IS BUISINESS .. AND THAT IS CAPITALISM AND NOT ANYTHING TO DO WITH NICE OR WHY YOU RISKED YOUR LIFE OVER THEIR ..

WE ALL RESPECT WHAT YOU AND OTHERS DID HERE .. BUT YOUR NOW IN THIS FOR A PROFIT AND THIS IS BUSINESS AND WE SHOULD PLAY THIS LIKE ITS BUISINESS AND FORCE A RE VALUATION NOT SITY BACK AND TALK AND WINE ON THE INTERNET ABOUT IT

YOU WRITE YOUR CONGRES MAN AND SENATOR AND YOU EXPOSE THE AUCTIONS AND CASH SHIPMENTS .. STOP THEM AND THE USE OF THE dOLLAR ... YOU HAVE THIS POWER .. THEN ALSO YOU DON'T SAY YOU INVESTED IN THE dINAR .. dON'T APEAR SELF SERVING .. THAT SENATOR THAT IS HOLDING dINAR SURE WON'T APPEAR SELF SERVING WILL HE ?

WRITE YOUR SENATOR AND CONGRESS AND PUT THE HEAT ON .. LET PEOPLE KNOW WHAT THE DOLLAR ID DOING .. SHOW THEM THE AMERICAN PUBLIC THAT WE ARE SANCTIONING {IRAN} BUT WE ALSO ARE SELLING THE DOLLAR TO iRAQ .. AND iRAN IS GETTING IT

STOP THE AUCTIONS AND THE R-V WILL HAVE TO HAPPEN .. OK .. again excuse the spelling and grammar .. and again your sacrifice their is admirable .. but this is buisiness and politics .. play this game right and your R-V IS ASSURED OR THE PRESENT REGIME IN iRAQ WILL BE SHORT LIVED IF THE ECONOMY IS NOT FIXED AND THEIR IAS NO DOLLARS FROM US TO FINANCE IT ..

ITS SELFISH AND RUTHLESS .. BUT THAT IS BUSINESS AND THIS INVESTMENT IS SAME! .. its not a wishing well to be wished for .. ok its buisiness!

[wolfman]

Maybe they want their people to think they are going to lop, so that they will go ahead and spend their large notes. Then as time goes by, and they actually RV, less Iraqi citizens will become extremely rich all of a sudden. They know they can't stop us Rich Americans from keeping our dinars (a million dinars is worth less than a decent weeks wages), so they take that into affect, or effect, whatever it is, and just suck up the loss (minor in my opinion).

I mean, really, the government of Iraq is not going to want it's people to ALL be rich from this, just some of them. Every government seems to think that they have to keep some oppression of the people, because they have to have their seperation of classes. And in reality, there probably does need to be some seperation in classes, but not oppression. People of all walks of life should have the right to be able to work their way up.

I think this thing is going to happen, and I believe there will be an abundance of subterfuge involved as it all progresses.

Just hope they hurry up and do whatever it is, so I can get off this rollercoaster!

[yota691]

almost 24 hrs of debate

[SgtFuryUSCZ]

"the banks will continue to receive the old currency for ten years as rights and not negotiable."

this is the only thing that caught my eyes, ten years, but what does it mean?ts as right and not negotiable, does it mean that you can cash it in up to ten years ?

***///

meaning that it will still be honoured as legal tender to a point and after that it'll no longer be honoured, 'cause they've given you enough time(10 years) to cash it out and make the switch to a viable/acceptable form of their currency....

[lomeygoat]

I am still under the impression that they had to RV as it was one of the stipulations to be removed from chapter 7. I have read it on many posts in the past, I'm not making it up...is this true or not?

I have also read, and no I have looked again and cant find the site/link now, that when the new Dinar was printed they also printed lower denomination notes in the same type of style that were put into storage at the CBI. How can they RV if they didn’t have small denominations to make change.

Maybe,IMO, if they have smaller denomination in Iraq, which I think they must, they may be thinking they could take the larger denominations off the street by trading them for smaller with the people of Iraq. The average Iraqi will want his change back after buying a loaf or bread!!! Traders will have to give change....

De La Rue Currency site, who printed the Iraqi dinar stipulates a new currency issue involves four times the number of notes as a normal annual renewal. Designing a new note takes a year to 18 months. My guess is they already have the lower denominations.....

Link; - http://www.managementtoday.co.uk/news/409548/UK-DE-LA-RUE-STRIKES-NEW-NOTE/?DCMP=ILC-SEARCH