More Details of New Iraqi Dinars

[keylime]

This one line is typical of why and how they deliberately confuse the public.....

The move to delete the zeros will reduce the number of bank notes in circulation and simplify Iraq’s payment system. The Iraqi Central Bank will re-print some 30tr dinars ($26bn).

Read more: http://dinarvets.com/forums/index.php?/topic/111559-more-details-of-new-iraqi-dinars/#ixzz1qKCv8lg2

How do you "reduce the number of bank notes in circulation" by "re-printing some 30tr dinars(26bn)"?

Well, getting more money into the electronic system reduces bank note numbers...increasing the value of the dinar to pull in large 3 zero notes(locally in Iraq), reduces bank note numbers...and at the same time gets more money into the electronic system which again reduces bank note numbers....foreign held dinars are not in circulation(remember they are trying to reduce notes in circulation in the Iraqi work and market place) Foreign held dinar are counted but are not circulated....we are holding them as an investment vehicle and there are mechanisms in place that will take care of these notes when they raise the value of the dinar and we cash them in locally here in the U.S.....they will NEVER see the light of day in the Iraqi market place...EVER....So those notes are already "out of circulation" and the money we exchange them for will be the good old US "greenback"...which I will be more than happy to "circulate" in this country....

So those brand spanking new 3 language, highly sophisticated, dinars with less zeroes on them, all 30tr or so, will be worth much more than the notes we are holding now, doing exactly what they are supposed to be doing, which will be, "de-dollarizing" Iraq(by the way, de-dollarizing will be another way of reducing the number of bank notes in circulation, because they won't have 2 forms of currency to have to deal with, and because the dinar will be worth MORE than the dollar...it will take less dinar to do what the dollar does now in the Iraqi marketplace) and creating a "sense of self worth" for the Iraqi people....helping them experience the great wealth that is waiting to be discovered and explored....

AND allowing us, the investors to not only reap the benefits of our investment, but also having allowed us to, in a small way, help rebuild and sustain a fledgling democracy in the ME during its greatest time of need, and at its most vulnerable.....May the Good LORD bless this investment more than we can ever imagine and dream....

[Goldiegirl]

Take for instance the Philippines in 2005 they exploded too 57 to 1 so 1 million would be about 17,000 dollars .....now if you were to buy say ......5 million peso that would cost 87,700 dollars

now today or should i say in 2009 the rate is 43 to 1 that is about 23,200 per million .....5 million would be 116,279 dollars .....thats about 30,000 dollars profit on a 87,000 dollar investment in 3 years

now that may not seem like much but use millions and not thousands ...........and that is a S#!T load

this is how the Forex people make there killing .....

now you say what dose this have to do with the price of tea in china ..............

Well if you move the exchange rate in small increments ...the forex will pick up on it ...........but if you make a huge jump all at once ...they wont know what hit them ....because of there arrogance and some pretty smart misinformation ...and then throw a whole lot of people that have no clue about trading money in the mix for good measures .....and you have yourself a perfect plan ...O and dont forget a few people that say its going to happen every day .....just too make sure the (big boy bankers)and rest of the world thinks there all crazy ....and you have made history and some money at the same time

dont give up yet folks this is just getting started ......wait till some of us start the next world domination of a single currency ..........thats right WE me and you did this to the currency not some secret origination .....just some poor folks looking to get ahead ....thats why it will work they did not see it coming ....even when we told them every day ..............Arrogance.................. is a bad thing to have in a investment

Randalln you make some interesting comments.

I agree with you, this is just getting started.

[2fast4u2c]

Any time someone post an article he has to bring it down with a negative opinion... If you are anti RV then why be here?? Doesn't make sense to me

Kate,

Noone here is anti - RV...that I know of. However some of us have been in for a long time, with a lot of research and we have come to realize this thing could be a wash. It's not what Big Frank or Keep or myself want but it is possible. If it werent for those of us posting the possibilities several more peiople would go out and overspend on this investment.

This site has a strong following because of the debates.....its all good!

Heres to an RV, but stay grounded.

[Dinaronair]

Kate,

Noone here is anti - RV...that I know of. However some of us have been in for a long time, with a lot of research and we have come to realize this thing could be a wash. It's not what Big Frank or Keep or myself want but it is possible. If it werent for those of us posting the possibilities several more peiople would go out and overspend on this investment.

This site has a strong following because of the debates.....its all good!

Heres to an RV, but stay grounded.

It just bothers me anytime I read an article and then go through the reply's of others he has to bring things down? Is March 19th a long time? Ya know I have had my Dinar for years just found out about this site not to long ago so I have been in this investment a long time myself.... I never said a thing about you or keep? Just asked why he needs to give short reply's and be negative when he does that's it....

[zigmeister]

You know what key lime you and Randlin make some fine points in this crazy article. They are going to delete the zero's and then re-print 30 trillion dinar. The key word is re-print, not print new currency, re-print the old currency. Interesting. Good posts guys and gals.

[cbs71]

Yes, they can. It's called a redenomination and over 50 countries have done it before, including Turkey, who they frequently reference in their three zero articles.

It kills me when one brings in Turkey into the conversation. Iraq's position is way bigger and more complicated then stinking Turkey. So, try again!

[Rabbi]

AKnews reports that Iraq’s new currency will include three languages: Arabic, Kurdish, and English. It will also include archaeological features including those of the Kurdistan Region.

Speaking on behalf of the economic committee in the Iraqi Council of Representatives, Muhama Khalil said that deleting the three zeros, and restructuring the currency will provide significant economic benefits.

He explained that Iraq signed a contract with four foreign companies to producing paper and coin variants of the new currency from the beginning of next year.

The move to delete the zeros will reduce the number of bank notes in circulation and simplify Iraq’s payment system. The Iraqi Central Bank will re-print some 30tr dinars ($26bn).

This seems to me to be a re-printed article from last year. Be that as it may, the article is stating that the CBI "will re-print some 30 TRILLION dinars." If this is accurate, then there will NOT be a lop!!! It implies that everyone will exchange their 3-zero dinar notes and receive an equivalent number of dinars in the new smaller denominations.

[EAA]

Not a math major or anything but the removeing 3 zeros haunts me. I have been waiting almost 3 years and will not get rid of my dinar (just in case) but this scenario haunts me.

So Mr. local goes to his bank gives them a 25,000 dinar they give him a 25 dinar then he goes to the store for a drink. If a soda cost 25,000 dinar then with new currency cost 25 dinar has the value not increased? If the price of the soda does not change. Does Iraq really care if the hose those who can not exchange the dinar due to bing in another country. The person bying the drink knows it only cost 25 dinar then goes on his way.

Just my 250 dinar.

Edward

[zigmeister]

This seems to me to be a re-printed article from last year. Be that as it may, the article is stating that the CBI "will re-print some 30 TRILLION dinars." If this is accurate, then there will NOT be a lop!!! It implies that everyone will exchange their 3-zero dinar notes and receive an equivalent number of dinars in the new smaller denominations.

I believe there was another article last week and they used the term re-print 30 trillion. It kind of by passed me, but if it is indeed true, then you are right there will be no RD.

[TXNOLE]

Since my dinars are not in circulation, I would rather just trade them in for greenbacks!

[caz1104]

Kate,

Noone here is anti - RV...that I know of. However some of us have been in for a long time, with a lot of research and we have come to realize this thing could be a wash. It's not what Big Frank or Keep or myself want but it is possible. If it werent for those of us posting the possibilities several more peiople would go out and overspend on this investment.

This site has a strong following because of the debates.....its all good!

Heres to an RV, but stay grounded.

Hogwash!!! "if it were'nt for those of us posting the possibilities several more people would go out and overspend on this investment" man are u full of yourself or what? Without you and others where would we all be? Oh thankyou oh great knowledgeable one! If people need help policing they're financial circumstance trusting the likes of anyone(including you) online with a fake name should be the last place one should look.Best to all

[RodandStaff]

They are NOT going to put out in the papers exactly what they are doing. They are going to put out there what their plans are to move forward. They are NOT going to give you dates, times or rate. They are not going to tell you exactly how it is going to be done because that would be very counterproductive to the plan and people want to come in and destroy the plan and it very much can be for the economy Its a very delicate thing for them to do to get this exchanged and to get all the new funds out there and get it in the peoples hands and theres lots of things that can go wrong so they are putting out a position…There showing part of their cards but not showing all of their cards.

Wow... Laid back, somebody musta said something to really get you riled up... haven't heard more than a line or two outa you yet...man, can you lay it out there.. good job!

[RVnow4meplease]

JUST RV PLEASE!

[truthful1]

These articles are meant to be read as rd/lop articles. theres no question thats thats what they want us to think. i think its slight of hand, and they will rv. but the repetual message is and has been rd/lop...which would be expected as a disguise for a rv. how or why anyone sees this as rv material is beyond me???? What will happen is yet to be seen....but everyone should understand these are rd/lop articles. central banks would never be this open about a revaluation. If people havent seen a lop presented by the cbi, then they will be draw dropped, if the cbi keeps their word. however, i call this purposeful deception of propaganda. go rv now

[Laid Back]

Just remember guys at the END of this ride, we will see a lot of misinformation and smoke.

Take it easy

[George Hayduke]

Take for instance the Philippines in 2005 they exploded too 57 to 1 so 1 million would be about 17,000 dollars .....now if you were to buy say ......5 million peso that would cost 87,700 dollars

now today or should i say in 2009 the rate is 43 to 1 that is about 23,200 per million .....5 million would be 116,279 dollars .....thats about 30,000 dollars profit on a 87,000 dollar investment in 3 years

now that may not seem like much but use millions and not thousands ...........and that is a S#!T load

this is how the Forex people make there killing .....

now you say what dose this have to do with the price of tea in china ..............

Well if you move the exchange rate in small increments ...the forex will pick up on it ...........but if you make a huge jump all at once ...they wont know what hit them ....because of there arrogance and some pretty smart misinformation ...and then throw a whole lot of people that have no clue about trading money in the mix for good measures .....and you have yourself a perfect plan ...O and dont forget a few people that say its going to happen every day .....just too make sure the (big boy bankers)and rest of the world thinks there all crazy ....and you have made history and some money at the same time

dont give up yet folks this is just getting started ......wait till some of us start the next world domination of a single currency ..........thats right WE me and you did this to the currency not some secret origination .....just some poor folks looking to get ahead ....thats why it will work they did not see it coming ....even when we told them every day ..............Arrogance.................. is a bad thing to have in a investment

U make so much more sense when drinking Redbull without the Vodka - I actually understood what you wrote ... Then again, it may just be me - I did get a good nights sleep last night

GH

[randalln]

Explain how 30 Trillion IQD before is still 30 Trillion IQD after will reduce the money supply as the CBI's main objective is to do. This defeat the whole entire purpose of coming out with a new currency.

It looks more like a partial LOP then a managed float. It could very well be a hybrid RV. A little LOP & a little raise in the value of the IQD.

if you have 1 ......1000 dinar note on monday and its worth 1 dollar

And on Wen.you still have 1 note ..... that same 1000 note is worth 1000 dollars .......how would you use it you just have 1 note .... but its worth 1000 dollars now ...and you dont want dollars you want dinar

So on or about Tuesday ,your bank prints and gives your store 1000 .....1 dinar notes .....now dose that mean your bank has 2000 dinar now ...NO IT DOSE NOT 1000 in 1 note......... and 1000 in 1 dinar notes = 2000 dinar on Tuesday ...

Now on Wen. the value of the dinar goes up to 1 to 1.............And you head down to the store to buy that loaf of bread everybody keeps talking about that is 1 dollar ......1000 dinar on tues. but today....its only ....... only 1 dollar or......1 dinar ........so you give them the 1...... 1000 dinar note from your pocket .......and they give you back 999 dinar in 1 dinar notes ...take the 1000 and give it to the bank and burn it......now you still have 1000 dinar in circulation .........but for 1 day there was 2000 dinar in circulation ....lucky for the bank some one needed bread

now you use this on a much bigger scale ......and you have whats happening in iraq ........

I know some of you are confused about this .....but you need to go to school study Economics ...for some of you to grasp it .....I MEAN THE WHOLE CORSE

A RV ,........of this scale ...has to go hand and hand with a RD or lop as you would call it ....but just because you lop the note ...........before you can do that ........you have to have just as many units to replace it of......... equal value .......in smaller increments ......if NOT.....you have devalued ..........the price per unit at the same time .....as removing the the large unit notes

And you dont want to devalue your currency supply .....wail you make it easer for the people to make purchases

so 1000 on Mon.........becomes 2000 on tus........but on Wen. becomes 1000 again ........and it has to happen this way first .....before you can reduce the supply to 500 notes

If not ......and the person bringing in the 1000 note ....only got back 500 in change for a 1 dinar item .......well lets just say ...some is getting blown up ..........

and the part you for get is they had the dollar for ....8 years to remove all the large notes ......they used the dollar to remove all the dinar

[randalln]

It kills me when one brings in Turkey into the conversation. Iraq's position is way bigger and more complicated then stinking Turkey. So, try again!

I could not agree more ....this is not apples to apples with Turkey

[blugrass60]

Well, randalln, im pretty sure I understood all of that. Two questions of several,i think i will have worded right, just in case i didnt get it;

1. Do you think we will be seeing am immediate 1:1 or are we going to see an exchange of 0.xx to 1 with a gradual increase to ballpark 1:1.

2. In either scenario, will people like myself who cannot be HALO dropped or get a diplomatic or press pass into iraq actually be able to.exchange our dinar for dollars in a fairly simple way?

I lied, 3. Is this going to scare the crap out of Iraqis and forex traders and bankers over here?

I resist the urge to ask when this RV or possible reinstatement may occur lol. No jinxing.

[randalln]

U make so much more sense when drinking Redbull without the Vodka - I actually understood what you wrote ... Then again, it may just be me - I did get a good nights sleep last night

GH

Who said i was not drinking R&V when i wrote this .......hahahahahah

the only reason I drink ....... is its cheaper ..........than the cocktail of pills it takes for the same affect ...........

And in the end............... i will still be going the same direction

[randalln]

Well, randalln, im pretty sure I understood all of that. Two questions of several,i think i will have worded right, just in case i didnt get it;

1. Do you think we will be seeing am immediate 1:1 or are we going to see an exchange of 0.xx to 1 with a gradual increase to ballpark 1:1.

2. In either scenario, will people like myself who cannot be HALO dropped or get a diplomatic or press pass into iraq actually be able to.exchange our dinar for dollars in a fairly simple way?

I lied, 3. Is this going to scare the crap out of Iraqis and forex traders and bankers over here?

I resist the urge to ask when this RV or possible reinstatement may occur lol. No jinxing.

I will answer all those in a wial .....im under my jeep right now changing axles ........and i need to medicate ......with my BudLight

[whatsthis]

That's what deleting the 3 zeros means right?

I Am just hopeful it's all smoke

I want it to mean 3 zeroes from the rate but that's not what it says.

GO SHABS

For one thing they will not make the average Iraqi citizen more money than he had before they dropped the value of they dinar so what they do in country has nothing to do with what we hold. They have since stating deleting the zeros to lifting the zeros. Keep in mind will we see what they will have for exchanging the 000 note for the news smaller notes which only has to do with in country not what we hold & at that time they take in those 000 notes, because the smaller note will not equal the same amount total as the 000 they have reduce the amount in circulation the small note total shows a reduction took place now they can still have 30 trillion notes equaling a different amount example if you have 4 of the 25k notes you have 100000 now if you have 4 of the 25 note you have 100 dinars see the reduction of in circulation & that has nothing to do with our note because they are not counted as being in the country we hold them just as the country would in a reserve so they are not counted as in circulation. All of that will be done before they RV. They do have small notes in the C.B.I. that where made when these notes where made & they can use them first until the new notes come in. When they raise the exchange rate that give them more power with their currency & that is when you can cash out & get out of this. If that is not clear enough for you I don't no how else to explain it to you.

[blugrass60]

I will answer all those in a wial .....im under my jeep right now changing axles ........and i need to medicate ......with my BudLight

No problem, and thank you. I ask those questions bc i think a lot of people havent really considered rv/ri has to go hand in hand with a rd, in a roundabout way, but, for my own peace of mind lol and clarification for those who are going to think this is a more complicated event than just 'rv, now gimme my text,' and who may not have read any of your posts.. I have about three to four truckloads of mulch that needs spreading so ill be out for a while, fun fun..