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US DOLLAR NO LONGER OFFERED AT CBI AUCTIONS NOW SOLD THROUGH BANK TELLERS


carlablum
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I'm thinking if you want folks to stop smuggling dollars into Iran, the best way is to take them off the streets.

It gives Shabs the perfect excuse to de-dollerize the country.

I agree, I should have read Bond Lady's post before this one.

At least it is happening the way she predicted...Go Bond Lady!!

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The comment that struck me is, HOW WILL THE CBI MAKE THEIR MONEY???

Man, you can't buy a ticket and take a ride as fascinating as this!

"We also developed the Finance Committee during its meeting today to host a table each day some of the ministries

in order to stand on their budgets for the actual exchange rate and these measures will help us greatly in raising funds for the Bmnaqltha As we have said to support the retirees."

biggrin.gif

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They couldnt afford to buy the US dollars if their money is only worth pennies."

So what they are doing is one way to get them to use Dinar instead of dollars. "Forget about getting dollars, use the Dinar."

I'm not sure that's good for a potential RV, though. Time will tell.

I understand & respect your opinion,but most people enter into investments looking for positives.Best to all

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They will make their money through oil sales, and it seems lots of Iraqis are tired of not getting a piece of those oil dollars.

I understand & respect your opinion,but most people enter into investments looking for positives."

What's negative about it? As oil sales increase and the country becomes more stable, those dinar will become more valuable. Historically, investing in RV's hasn't been very profitable.

Edited by lotsofdinar
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No, I don't think they would shut down per se, but would be unavailable for a little while to make the adjustments and then continue to sell and or buy at the new rate. That's my opinion.

Thanks, you are right. I didn't word that question correctly, however you got what I mean. So back to this question, I was thinking the same - we will find out as orders are not being met and I have heard in Britain some are not selling at the moment.

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They will make their money through oil sales, and it seems lots of Iraqis are tired of not getting a piece of those oil dollars.

I understand & respect your opinion,but most people enter into investments looking for positives."

What's negative about it? As oil sales increase and the country becomes more stable, those dinar will become more valuable. Historically, investing in RV's hasn't been very profitable.

Im not talkin rv until the hcl is passed. Period. The rest is just like wishing for santa to be real!!

:D:o:blink:

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Dunno how much they have on hand and if they trade using a banking feature that allows huge sums to be exchanged. Guess it depends on their sources for dinar. That said, I wonder, also, if this will cause a sharp reduction of exchanges between both dinar traders and the few banks that still trade w/in the U.S.

Yes, I would look for dinar brokers to put a freeze on sales and if you see this occurring soon.....

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"We also developed the Finance Committee during its meeting today to host a table each day some of the ministries

in order to stand on their budgets for the actual exchange rate and these measures will help us greatly in raising funds for the Bmnaqltha As we have said to support the retirees."

biggrin.gif

I could be making a stretch here but the words actual exchange rate stands out. Then the the word retirees. At first I was thinking why would they talking about retired people but then my though was support the retirees could mean retire the large notes, hence notes with three zero's. Just a thought.

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I don't think so. Many Ministers want the old folks to get a bigger piece of the oil dollars to lift them from abject poverty. They have talked about this for several years.

Basically, these guys are saying, "Look, more and more money is coming in from oil all the time, and the GOI is simply hoarding it. It's time to turn loose of some of it and help everyday folks out a little. "

Edited by lotsofdinar
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IMO, this will completely suck what USD is left off of the "Iraqi street". 40% of the cash used in Iraq is USD, and this will draw the rest of it off, as there will be an even higher premium on it.

Everyday Iraqis will be forced to use the piles of IQD for common transactions, and prompt even more calls to increase the value of the dinar.

Doesn't sound like such a bad thing!

I bet Maliki and Sadr are now embarrassed that they can't help their Iranian but-buddies out with fresh USD !

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I could be making a stretch here but the words actual exchange rate stands out. Then the the word retirees. At first I was thinking why would they talking about retired people but then my though was support the retirees could mean retire the large notes, hence notes with three zero's. Just a thought.

I can understand your thoughts but the article is talking about pensioners so I think it really is about retirees. But considering all of the crazy translations sometimes I just scratch my head. LOL

smile.gif

to find out the details of their budgets and the possibility of granting financial allocations for pensioners and poorer segments of society and to increase bicycle functional and debate with them in how to achieve this through the redeployment of funds allocated to them. "

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THanks Carla for the article! Really makes you go hmmmmmm!

This matches up with the article that was posted here on the 29th, where the CBI was stating that they were going to make changes because of the smuggling ( LINK ), and with an article that was posted on the 14th that the currency auctions were contributing to the smuggling of currency to Syria and Iran ( LINK ).

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I don't think so. Many Ministers want the old folks to get a bigger piece of the oil dollars to lift them from abject poverty. They have talked about this for several years.

Basically, these guys are saying, "Look, more and more money is coming in from oil all the time, and the GOI is simply hoarding it. It's time to turn loose of some of it and help everyday folks out a little. "

The oil money doesn't go TO the CBI. It goes through them from the National Oil Company, and the CBI balances the cash flow in the country, through the bank auctions with what they have in their reserves.

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I can understand your thoughts but the article is talking about pensioners so I think it really is about retirees. But considering all of the crazy translations sometimes I just scratch my head. LOL

smile.gif

to find out the details of their budgets and the possibility of granting financial allocations for pensioners and poorer segments of society and to increase bicycle functional and debate with them in how to achieve this through the redeployment of funds allocated to them. "

Maybe the are going to buy them bicycles. ;)

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