Finance Committee: deposit in the banks when you switch the currency would be one place

[Anonon]

BAGHDAD / JD / .. revealed the Finance Committee parliamentary certain categories of the new currency by the central bank to the process of removing three zeros from small groups to be metal and large paper, referring to the deposit in the banks when you switch the currency would be one place.

Said committee member Magda Al-Tamimi L / JD / “The groups that comprise the new currency will be the small ones metal after deletion of zeros and large groups will be (50)” Fifty dinars “and (100)” a hundred dinars, “equivalent to (50,000)” Fifty thousands “or ( 100,000) “one hundred thousand dinars,” at the present time. explained Tamimi, “The small groups are more widely used resorted Bank to be metal so as not to be prone to damage.”

He said, “The categories of paper characterized by small size so that there will be no difficulty in circulation and size of wallets. “She Tamimi,” The central bank has contracted with major companies to be currency printing paper of high quality.

“and named Tamimi,” the cost of the actions dedicated to the currency exchange at 150 million dollars. “and noted that the” currency exchange and withdrawal be gradual through the process of filing in banks, “saying,” The withdrawal of currency be gradual and not once as in the switch before.

“noted Al-Tamimi that” the Finance Committee follow-up to the Central Bank and to share what is going on the process of printing new Iraqi currency.

“and quoted a member of the Knesset Finance” for an interview Governor of Central Bank “Shabibi” “The deposit in the banks when you switch the currency would be one place and controlled to protect the currency from counterfeiting.”

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.dananernews.com/News_Details.php%3FID%3D404

[JWJW11]

Looks like our 100k dinar note will be worth $100 bucks

[SocalDinar]

Looks like our 100k dinar note will be worth $100 bucks

Better have a look at those notes you have JW. Anyone else holding 100K notes?

[jeepguy]

and i guess the 25,ooo = 25. i`m not going too panic yet !!!!!! could be a press release too motivate folks too dump the dinar ,,,, or take a dump on the dinar come on c.b.i . show us the strenght of iraqi country in the rates

[Jasmine21]

Am I reading this wrong or is this an article from April 18th? Either way I'm not worried, I don't really think a lop is what is going to happen. If it does then that will suck but there is nothing we can do about it.

[Carrello]

Gee, we have a Newbie that joined at 1:20 today and was so anxious to share this questionnable information, that it was posted at 1:22. Thanks, and you even had to dig up a news article that was 4 months old and that is a lot of work. You must really like us.

[Butifldrm]

Said committee member Magda Al-Tamimi L / JD / “The groups that comprise the new currency will be the small ones metal after deletion of zeros and large groups will be (50)” Fifty dinars “and (100)” a hundred dinars, “equivalent to (50,000)” Fifty thousands “or ( 100,000) “one hundred thousand dinars,” at the present time.

Ok, there's no such thing as a 50,000 or 100,000 at the present time. They already have a 50 Dinar note, is that note going to be worth .005. The Highest Dinar note is the 25,000 note printed at the present time. JMO PROPAGANDA! I would be expecting a lot more articles like this one to come out in the near future... I hope

http://www.cbi.iq/index.php?pid=Banknotes

[Jasmine21]

Whew Carrello I thought I was gonna get dogged for bringing up that it was old. Guess I did read it correctly.

Edited August 16, 2012 by Jasmine21

[Unitedrich]

Gee, we have a Newbie that joined at 1:20 today and was so anxious to share this questionnable information, that it was posted at 1:22. Thanks, and you even had to dig up a news article that was 4 months old and that is a lot of work. You must really like us.

I love your enthusiasm and quick witted humor, that was superb!

btw,, +1 Carello

[genc610]

(50)” Fifty dinars “and (100)” a hundred dinars, “equivalent to (50,000)” Fifty thousands “or ( 100,000) “one hundred thousand dinars,”

Read more: http://dinarvets.com/forums/index.php?app=forums&module=post&section=post&do=reply_post&f=5&t=125943#ixzz23fDZrn98

So what I'm getting from this is...if a pack of gum cost 50,000 dinar prior to the deleting of the zeros, wouldn't 50 dinar buy you 1,000 packs of gum? They did state that the 50 and 100 dinar would "be equivalent to" the 50,000 and 100,000 dinar notes. Or am I WAY off base here?

[cbs71]

Noobs

[Anonon]

[JWJW11]

Better have a look at those notes you have JW. Anyone else holding 100K notes?

this article is so stinkin clear to me....the new 50 and 100 dinar notes will be equivalent to what 50k and 100k is currently worth today....simple......50k dinar is worth about 50usd now and 100k dinar is worth about 100usd now........pretty cool....but then again it was pretty cool when we read this article 5 months ago.

[Alex38]

this article is so stinkin clear to me....the new 50 and 100 dinar notes will be equivalent to what 50k and 100k is currently worth today....simple......50k dinar is worth about 50usd now and 100k dinar is worth about 100usd now........pretty cool....but then again it was pretty cool when we read this article 5 months ago.

very clear.

[matthew6:19-21]

this article is so stinkin clear to me....the new 50 and 100 dinar notes will be equivalent to what 50k and 100k is currently worth today....simple......50k dinar is worth about 50usd now and 100k dinar is worth about 100usd now........pretty cool....but then again it was pretty cool when we read this article 5 months ago.

Exactly, discribing a one to one rate. I missed this article a couple of months ago it's a nice read. I like how this article says the numbers and spells them out also. No miss print in other words.

[Dalite]

(50)” Fifty dinars “and (100)” a hundred dinars, “equivalent to (50,000)” Fifty thousands “or ( 100,000) “one hundred thousand dinars,”

Read more: http://dinarvets.com/forums/index.php?app=forums&module=post&section=post&do=reply_post&f=5&t=125943#ixzz23fDZrn98

So what I'm getting from this is...if a pack of gum cost 50,000 dinar prior to the deleting of the zeros, wouldn't 50 dinar buy you 1,000 packs of gum? They did state that the 50 and 100 dinar would "be equivalent to" the 50,000 and 100,000 dinar notes. Or am I WAY off base here?

From the article:

Said committee member Magda Al-Tamimi L / JD / “The groups that comprise the new currency will be the small ones metal after deletion of zeros and large groups will be (50)” Fifty dinars “and (100)” a hundred dinars, “equivalent to (50,000)” Fifty thousands “or ( 100,000) “one hundred thousand dinars,” at the present time. explained Tamimi,

Read more:

Taking it literally, as written, 50 new dinar has the same purchasing power as 50,000 of the present currency.

So, 50 new Dinar would buy the same as 50,000 current Dinar.

The question is, will we have out holdings divided by 1000 when we either sell, or trade for the new Dinar?

That seems to be the only point that is still questioned by many.

The Zeros, as the article mentions, are coming off both the face value, as well as the exchange rate.

There seems no other way that the new will have the same value as the old, when the old is multiplied by 1000.

There still may be hope that this is a bad translation, or the proverbial "smoke and mirrors" that is selectively applied to news articles from Iraq.

I am still in for the long run, so it is what it is. I can't do anything other than accept the eventual outcome.

[quadkidd1]

Gee, we have a Newbie that joined at 1:20 today and was so anxious to share this questionnable information, that it was posted at 1:22. Thanks, and you even had to dig up a news article that was 4 months old and that is a lot of work. You must really like us.

Aces C lady !!!

Gotta get up pretty early..........

Quad

[Carrello]

Whew Carrello I thought I was gonna get dogged for bringing up that it was old. Guess I did read it correctly.

Just because it is older, does not mean it is not correct....kinda like me.

I love your enthusiasm and quick witted humor, that was superb!

btw,, +1 Carello

We weren't born yesterday. +1 for you, my friend!

this article is so stinkin clear to me....the new 50 and 100 dinar notes will be equivalent to what 50k and 100k is currently worth today....simple......50k dinar is worth about 50usd now and 100k dinar is worth about 100usd now........pretty cool....but then again it was pretty cool when we read this article 5 months ago.

Yes, but by now, they might have those 100,000 notes printed.

[Anonon]

..i bleieve they'll most likely lop there currency then revalue that way there currency will go up since they've been talking about deleting the zeroes but not in what order if they delete the value it would be around .81 and we hold 25,000 we would all be rich now if they lop and put a set time to turn in the higher notes for equal 25,000=25 dinars then revalue once they get them all in say if you got 1million=1000 of the new dinars then 1-1 the old dinar would be worth nothing. The math wouldn't be hard and it's so simple and by each day they keep putting it out there. i do hope they just revalue then exchange the old for the new but hey we don't know that :/

[Flamtap]

..i bleieve they'll most likely lop there currency then revalue that way there currency will go up since they've been talking about deleting the zeroes but not in what order if they delete the value it would be around .81 and we hold 25,000 we would all be rich now if they lop and put a set time to turn in the higher notes for equal 25,000=25 dinars then revalue once they get them all in say if you got 1million=1000 of the new dinars then 1-1 the old dinar would be worth nothing. The math wouldn't be hard and it's so simple and by each day they keep putting it out there. i do hope they just revalue then exchange the old for the new but hey we don't know that :/

OK will someone please explain to me how in the world Iraq is going to take three zeros off of the 500 dinar bill they are currently using??? Even if possible what then would be the value of the 500 dinar bill?

[starlight]

This is a duplicate post, was already post April 18, 2012.

My link

[TheArtistFormallyKnownAs]

Gee, we have a Newbie that joined at 1:20 today and was so anxious to share this questionnable information, that it was posted at 1:22. Thanks, and you even had to dig up a news article that was 4 months old and that is a lot of work. You must really like us.

LOL I Love ,love ,love your comment Carrello.

[Dalite]

OK will someone please explain to me how in the world Iraq is going to take three zeros off of the 500 dinar bill they are currently using??? Even if possible what then would be the value of the 500 dinar bill?

500 x .001 = .5. Or 500 fils; one half of a Dinar.

250 x .001 = .25 or 250 fils; one quarter of a Dinar

1000 x .001 = 1 Dinar

10,000 x .001 = 10 Dinar

Everything is treated equally; divided by 1000

The only ones that believe the lower denominations would be exempt are Breitling, and his followers.

Don't feel bad, I used to be in that tribe also.

All the above happens ONLY if the CBI is sucessful in their goal of deleting the zeros.

[Carrello]

This is a duplicate post, was already post April 18, 2012.

My link

Starlight, yours is the 21st post on this thread. There are seven (7) posts prior to yours that address the date.

PS There is a lot of information that leads us to conclusions and assumptions, and that information does not come from new news. It comes from history and news. Just because the information is older, does not mean it does not have meaning or provides information for today: hence the world of 'history'.

Edited August 16, 2012 by Carrello

[dontlop]

well if 50 new dinars equal 50,000 old dinars its would be even trade if you swapped those 2 amounts of dinars back and fourth when making change or just exchanging them at a bank.. i wonder if they are kidding around just for joke with this story..it cant be true ..it just cant be .. call the police !