CBI begun contracting process to print new currency

[TonyDownTheShore]

BAGHDAD / Baghdadiya News / .... sources from within the Central Bank of Iraq that the latter already begun the contracting process to print a new Iraqi currency after deleting three zeros of which, Tuesday, March 20, 2012 08:18 Pointing out that the central bank just waiting to give him the green light if there were objections to the drawings and designs. The sources indicated in comments summarized by / Baghdadiya News / "The central bank introduced a draft law to delete the zeros to the Chairman of the House of Representatives Osama Najafi, and ensure that everything about this great project which will start work by the process of offering the new currency for circulation early next year, and will continue to drive the replacement of three years.

"The House of Representatives has no objections to the project except the subject of graphics that will come within the designs, adding there are those favored by nature and one favored by Islamic history"., stressing that the initial indications stating that everyone agreed on the historic monuments in Iraq.

was a member of the Economic Commission parliamentary Nora Salem Albjara described in a statement to / Baghdadiya News / replacement process and delete three zeros to "step" that Iraq must start with, but for many reasons, including elimination of the problems of the current currency, especially after the emergence of the phenomenon of counterfeiting of currency from the category of the ten thousand dinars. "

She said also that "the restructuring of the currency has become an urgent need now, it is reasonable to continue the circulation of currency issued in times of Iraq was then suffering from inflation and the deterioration of Danarh, and this has increased the amounts of money in circulation in the market."

She said "Iraq is currently trading at least 33 trillion dinars, and this is a very huge amount causes a lot of confusion in cash transactions, and more effort and time and a lot of risk in carrying large amounts of banknotes in the pocket, and this is why the Iraqi citizen of the tendency to deal in dollars, to become the market dollarized the Iraqi market, and must be maintained on the national currency. It showed that "new dinar will be printed also groups as large as the 100 dinars, equivalent to the current currency 100 thousand dinars, as well as 50 dinars and twenty-five and categories of the youngest is ten dinars, five dinars, which without it would be a coin will be the favorite being the most traded in return will not be worn out." Atney / 27

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[Abarvets]

Thanks Tony! :)

[kizer8]

I don't understand what they are printing. I thought lower denoms are already printed. Can anyone explain?

[meho]

I don't understand what they are printing. I thought lower denoms are already printed. Can anyone explain?

Have you seen the denoms with your eyes?

[TonyDownTheShore]

I don't understand what they are printing. I thought lower denoms are already printed. Can anyone explain?

Some people including Adam thinks they have been printed already, but we haven't seen solid proof that it has, so we have to go by what they tell us, but you know Iraq doesn't tell us the truth all the time so for now we speculate and hope that it is printed already and just waiting for the green light to release it.

[meho]

Some people including Adam thinks they have been printed already, but we haven't seen solid proof that it has, so we have to go by what they tell us, but you know Iraq doesn't tell us the truth all the time so for now we speculate and hope that it is printed already and just waiting for the green light to release it.

Thanks Tony...excellent response

[sanders2340]

After studying this speculative investment for two years, I have read a few articles, and also have seen a couple of things that made me believe that they printed lower denoms at the same time that they printed the currency that you and I are holding. And no I don't have a link to the articles. Because I have always felt that I don't have to prove to anyone if the dinar will raise in value. Either you believe it or you don't. I'm under the impression that those lower denoms that have already been printed will be used after the RV. They will stay in circulation for the next two years along with the three zero notes. The new currency that is being printed now has the three languages. It will be introduced in early 2013. That my opion. Take it for what it is worth Sorry for any typo!

[TLHUBER]

Im with you sanders2340.

Im with you sanders2340. You know come to think about it when my husband and I got into this investment in June of 2011, we bought our Dinar from DB. I do not remember the 250 note on the purchase page. But, a couple of months later DB had the 250 notes to purchase and of course they where alot more money.

[chevyseller2008]

I don't understand what they are printing. I thought lower denoms are already printed. Can anyone explain?

If in fact the lower denoms HAVE been printed, then this is just smoke. If they ARE printing, then it is to have the Kurdish language printed on it also.

[sanders2340]

Case and point TLHuber

I also believe that denominations lower than 250 were printed. Understand, when this plan was put into motion, they knew they wanted to have the same montery system like the US. 1, 5, 10, 20, 50. and 100. Therefore, I believe some of these were printed. I don't know which, but this is my belief. I think we will see some of these small notes real soon. When we see them, they will have value. And, off to the bank we go :D

Chevy I don't believe it is smoke. They are printing new currency. I believe the law that was given to Parliament stated that the new currency would be printed with thre different languages. (Arabic, Kurdish, and US). Now I don't know if that plan was squashed; but it was presented to Parliament. Shabb has the smaller denom that was printed in 2003 to hold him over until early 2013. IMO

[zigmeister]

Case and point TLHuber

I also believe that denominations lower than 250 were printed. Understand, when this plan was put into motion, they knew they wanted to have the same montery system like the US. 1, 5, 10, 20, 50. and 100. Therefore, I believe some of these were printed. I don't know which, but this is my belief. I think we will see some of these small notes real soon. When we see them, they will have value. And, off to the bank we go :D

You mention a valid point, they want their monetary system to be like ours in the currency denomination. The one and only one that does not fit is the 25. I am surprised they say they are not printing 20's......that is what the people are use to in the US dollar. hmmmm.....there is a possibility they are but not saying it. And those 25k's will be retired just as they are, and or used for banking. I wonder, any thoughts?

[Blu Collar Guru]

"The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools."

~Confucius~

" Let the printing begin " !

[sanders2340]

Zig I wonder do the fills, or the coinage, play into that equation. I'm not sure on that one

[zigmeister]

I am guessing but wondering if the coins will be a dollar, 50 cents, 25 cents......but to be honest I have never been clear.....possibly because they are never clear. I'll blame it on Iraq my confusion.