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CBI may not have to honor RV notes outside of country...


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from another news source...

CBI completes steps necessary to remove zeros; Awaits signal from executive, legislative branch to implementPosted:

June 27, 2012 in Iraqi Dinar/Politics, Top Headlines

Tags: Baghdad, bank, Central bank, Central Bank Iraq, Directorate General, Iraq, Iraqi dinar, London source reveals there will be a criteria for acceptance or rejection of banknotes.

06/25/2012 10:58

A source at the Central Bank “of the Iraqi gate” Today, ethnic, criteria for acceptance or rejection of banknotes in transactions to facilitate the circulation of cash within the banking system and the rest of Iraqi institutions and the public.

Give your views on this matter. Scooter's last conference call also stated the above article, CBI may not be obligated to cash out IQD RV notes ouside of country. Could we be left holding the bag?

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The IQD can still be traded. CBI don't have to honor the RV outside of country. Listen to Scooter's last CC about 20 min into the call. Iraq has banking agreements with most nations. The USA is not on

Nope dont buy it. How could this be possible? You mean you can pick and choose who you accept your currency from? This is a countrys currency. The decisions you make affect everyone and you can NOT pi

from another news source... CBI completes steps necessary to remove zeros; Awaits signal from executive, legislative branch to implementPosted: June 27, 2012 in Iraqi Dinar/Politics, Top Headlines

Nope dont buy it. How could this be possible? You mean you can pick and choose who you accept your currency from? This is a countrys currency. The decisions you make affect everyone and you can NOT pick and choose. I have always said when it gets close you will start to hear all kinds of really bad rumors to get you to cash in your dinars..

Edited by jlassociates
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I just read nina news and it stated that the us and iraq are having an economic relationship conference. If that's the case I think iraq will let us trade in our dinars because they want to do business with us.

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Question Luigi... would that mean Iraq would RV and not be internationally traded ???

The IQD can still be traded. CBI don't have to honor the RV outside of country. Listen to Scooter's last CC about 20 min into the call. Iraq has banking agreements with most nations. The USA is not one of them.

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It always seems that the articles coming out of IRAQ always states "citizens". We have traders selling Dinar under a "loop-hole" here in the US... The whole thing about Executive Order 13303 by the president is only to protect the US companies relating to petroleum, noting to do with the purchase of currency. We could be totally out of luck. I know we are seeing this right now, today, this Tuesday through Thursday, over a three day weekend, IMO... We need to call out the Gurus to get this right.

We wait and see how bad we have been pumped if this never comes in...

Come on RV!!!!

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Nope dont buy it. How could this be possible? You mean you can pick and choose who you accept your currency from? This is a countrys currency. The decisions you make affect everyone and you can NOT pick and choose. I have always said when it gets close you will start to hear all kinds of really bad rumors to get you to cash in your dinars..

Yes. Iraq can pick & choose. That's why many nations have banking agreements with each other.

I just read nina news and it stated that the us and iraq are having an economic relationship conference. If that's the case I think iraq will let us trade in our dinars because they want to do business with us.

If true, that is great news. The USA was one of the few countries left over not already set up. If true, disregard this entire article.

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It always seems that the articles coming out of IRAQ always states "citizens". We have traders selling Dinar under a "loop-hole" here in the US... The whole thing about Executive Order 13303 by the president is only to protect the US companies relating to petroleum, noting to do with the purchase of currency. We could be totally out of luck. I know we are seeing this right now, today, this Tuesday through Thursday, over a three day weekend, IMO... We need to call out the Gurus to get this right.

We wait and see how bad we have been pumped if this never comes in...

Come on RV!!!!

No doubt, Iraqi citizens will have a different cash out time period than those out of country. Borders will be closed & some communications will be temporary disrupted. This is to control the entry & exit of currencies both good & counterfeit. Iraq must also protect it's intrests.

if they R V ill buy a plane ticket to where ever i have to go . :rolleyes:

Just don't go to Kuwait. You'll have to open a Bank of kuwait account to cash out.

I still have money in that bank. They won't let me close my account. They are thieves.

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Bunk. Think about it. The CBI has been very clear that their intention is to make the IQD an internationally traded currency. How can they do that if they are not going to recognize the dinar outside their country? They have recently stated that currency within the "delete the three zeros program" will only be brought in through the banking system. That's to ensure that no counterfeit currency makes it's way into the system, as all notes would have to pass through the authenticity checks of DeLaRue machines in the banks.

Edited by Captjohn
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Bunk. Think about it. The CBI has been very clear that their intention is to make the IQD an internationally traded currency. How can they do that if they are not going to recognize the dinar outside their country? They have recently stated that currency within the "delete the three zeros program" will only be brought in through the banking system. That's to ensure that no counterfeit currency makes it's way into the system, as all notes would have to pass through the authenticity checks of DeLaRue machines in the banks.

Thanks Captjohn.... and let's not forget Iraq wants full accession into WTO and what are their stips ???? An internationally traded currency B)

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Is there some reason we couldn't go to Iraq? I know it's not the preferred method but maybe a little better than using 25,000 d sheets of TP. Only last a week here. More bunk I think. I'm sure we'll find a way.

That's a big ass.

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from another news source...

CBI completes steps necessary to remove zeros; Awaits signal from executive, legislative branch to implementPosted:

June 27, 2012 in Iraqi Dinar/Politics, Top Headlines

Tags: Baghdad, bank, Central bank, Central Bank Iraq, Directorate General, Iraq, Iraqi dinar, London source reveals there will be a criteria for acceptance or rejection of banknotes.

06/25/2012 10:58

A source at the Central Bank “of the Iraqi gate” Today, ethnic, criteria for acceptance or rejection of banknotes in transactions to facilitate the circulation of cash within the banking system and the rest of Iraqi institutions and the public.

Give your views on this matter. Scooter's last conference call also stated the above article, CBI may not be obligated to cash out IQD RV notes ouside of country. Could we be left holding the bag?

Read the article again. it merely points out if the note is damaged..

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Bunk. Think about it. The CBI has been very clear that their intention is to make the IQD an internationally traded currency. How can they do that if they are not going to recognize the dinar outside their country? They have recently stated that currency within the "delete the three zeros program" will only be brought in through the banking system. That's to ensure that no counterfeit currency makes it's way into the system, as all notes would have to pass through the authenticity checks of DeLaRue machines in the banks.

Yep....this article doesnt say anything about out of

country held notes....They do have a problem with

counterfeiting though. Its logical to want to examine

any note, and discard the bad ones

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Luigi didnt bring the whole article....here it is from Kamelkeeper

It says damaged and counterfeit notes.....NOT out of country :rolleyes:

CBI COMPLETES STEPS TO REMOVES ZEROES Awaits signal from executive, legislative branch to

#1 KamelKeeper

CBI completes steps necessary to remove zeros; Awaits signal from executive, legislative branch to implement

June 27th, 2012

A source at the Central Bank “of the Iraqi gate” Today, ethnic, criteria for acceptance or rejection of banknotes in transactions to facilitate the circulation of cash within the banking system and the rest of Iraqi institutions and the public.

The source revealed the uncles of the bank to the general Iraqi banks counting paper cash fit for circulation if it had not reached harm or damage affects the shape, color, size and if there has been a rupture of one or more, including not more than 3 cm were repaired tape transparent so that it does not affect the features real. And if hit by a break in one of the angles up to 2 cm.

The source explained that “the banknote is considered unfit for circulation and compensate for the full value when they are submitted to the Central Bank and its branches and banks if Mthrih and if he was cut in more than one angle if they are installed with adhesive tape Transparent or more in length, display, or different numbers or subject to damage burning drowning or endorsement by an official having jurisdiction. “

“When it is considered the cash fit for circulation are offset by not less than 90% of their value if they are buried or burned or washed or Mkarodh in whole or in part after making sure of its authenticity, as well as if stuck with exotic materials and affected features or perforated hole or more.” .

He noted that the paper is not valid when presented does not compensate if it lost 50% of its area or contained the writings of the seals or affect the shape.

The source explained: “If not counting cards as a result of hit hard procures the relevant committee to compensate the damaged currency at the Directorate General for the issuance of the cabinets and an estimated quantity and value of the decision is ratified by the Central Bank Governor or the Director-General of the issue and cabinets.

The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and replacement of the currency, which warned him, officials and economists because of the presence of mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes. Had demanded the prime minister’s central bank to wait project to delete the zeros of the three local currency, saying he was a big project and needs to be enough time to apply

Underscoring the deputies, “The central bank completed all the procedures related to the project to delete the zeros of the three local currency and the expected signal from the executive and legislative branches to begin to implement it.“

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Bunk. Think about it. The CBI has been very clear that their intention is to make the IQD an internationally traded currency. How can they do that if they are not going to recognize the dinar outside their country? They have recently stated that currency within the "delete the three zeros program" will only be brought in through the banking system. That's to ensure that no counterfeit currency makes it's way into the system, as all notes would have to pass through the authenticity checks of DeLaRue machines in the banks.

No bunk. Nations must have a bilateral banking agreement. As of last Sunday, the USA had no agreement with Iraq. That don't stop the Iraq Dinar from going int'l. Listen to Scooter's last CC. He explains this in detail.

Bunk. Think about it. The CBI has been very clear that their intention is to make the IQD an internationally traded currency. How can they do that if they are not going to recognize the dinar outside their country? They have recently stated that currency within the "delete the three zeros program" will only be brought in through the banking system. That's to ensure that no counterfeit currency makes it's way into the system, as all notes would have to pass through the authenticity checks of DeLaRue machines in the banks.

Agree. That's why borders & communications may be halted temporary.

Still, a bilateral agreement must exist between the two countries.

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from another news source...

CBI completes steps necessary to remove zeros; Awaits signal from executive, legislative branch to implementPosted:

June 27, 2012 in Iraqi Dinar/Politics, Top Headlines

Tags: Baghdad, bank, Central bank, Central Bank Iraq, Directorate General, Iraq, Iraqi dinar, London source reveals there will be a criteria for acceptance or rejection of banknotes.

06/25/2012 10:58

A source at the Central Bank “of the Iraqi gate” Today, ethnic, criteria for acceptance or rejection of banknotes in transactions to facilitate the circulation of cash within the banking system and the rest of Iraqi institutions and the public.

Give your views on this matter. Scooter's last conference call also stated the above article, CBI may not be obligated to cash out IQD RV notes ouside of country. Could we be left holding the bag?

Even though this is possible it is not probable because these notes are legal tender and why would they cut their own throats in the court of world opinion. That move would not be good for future business since there is a lot of countries with people holding their currency. nah it ain't gonna happen it a smoke and mirror type news to ward hign rolling investers.

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Is there some reason we couldn't go to Iraq? I know it's not the preferred method but maybe a little better than using 25,000 d sheets of TP. Only last a week here. More bunk I think. I'm sure we'll find a way.

That's a big ass.

Sure. You can go to Iraq. Remember, foreigners can't own property or businesses in Iraq. You would have to cash in & spend the money there.

In addition the USA has a limit on how much money you can take out of country through customs, $10K I believe, is the limit.

Luigi really enjoys stirring things up.........sit back and relax, we will be fine!

It still all boils down to a bilateral banking agreement between the USA & Iraq.

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Bunk. Think about it. The CBI has been very clear that their intention is to make the IQD an internationally traded currency. How can they do that if they are not going to recognize the dinar outside their country? They have recently stated that currency within the "delete the three zeros program" will only be brought in through the banking system. That's to ensure that no counterfeit currency makes it's way into the system, as all notes would have to pass through the authenticity checks of DeLaRue machines in the banks.

I think you're overlooking the fact that if Iraq lops the currency that will be internationally traded won't be the IQD. It will have a different ISO and symbol. The IQD will never be internationally traded IMO.

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I think you're overlooking the fact that if Iraq lops the currency that will be internationally traded won't be the IQD. It will have a different ISO and symbol. The IQD will never be internationally traded IMO.

But it will still always be IQD ... unless they change the wording of Dinar .

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Another thread of just baloney. Anything of the sort is completely ridiculous and counter productive to the desires of Iraq. Investment, WTO, International banking, ISX trading, etc. Iraq will honor the old notes as stated for as long as 10 years. And if my friend is right, and the dinar becomes a foreign currency reserve, the dinar could end up being a one heck of a strong currency. Oh that's right, they said that too. lmbo Some of these gurus need to go bye bye for sure for scaring people with sillyness.

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Another thread of just baloney. Anything of the sort is completely ridiculous and counter productive to the desires of Iraq. Investment, WTO, International banking, ISX trading, etc. Iraq will honor the old notes as stated for as long as 10 years. And if my friend is right, and the dinar becomes a foreign currency reserve, the dinar could end up being a one heck of a strong currency. Oh that's right, they said that too. lmbo Some of these gurus need to go bye bye for sure for scaring people with sillyness.

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Hey there Katie. Love it when you show up. Cheers. :)

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It might benefit everyone to go to the CBI website and review the "banking law" section....specifically Appendix A ,articles 31 through 34...

It clears up many questions as to what the CBI has to do and for whom....

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