Popular Post DinarThug Posted October 8, 2012 Popular Post Report Share Posted October 8, 2012 CNN. Broadcasting While Singing ..... "I Know That We Just Bought Dinar - And This Is Crazy - But Here's My Number - So Call Me Shabbi !" 10-6-2012 Newshound Guru Med A GREAT ARTICLE THIS MORNING FROM THE ECONOMIC FINANCE COMMITTEE THAT THE ZERO'S NEED TO BE DELETED ON SCHEDULE AND NOT WAIT, IF THEY WAIT IT WILL HAVE A DEVASTATING EFFECT ON THE IRAQ ECONOMY AND INFLATION WILL RISE...IT WAS VERY GOOD...NICE TO GET SOME GOOD NEWS. Thug Note: This Article Was Just Posted A Few Minutes Ago In The DV News Section - Followed By Kap's Comment On It. The Central Bank of Iraq decided on Sunday to delay the implementation of Iraqi currency restructuring and redenomination which consists of removing three zeroes from the currency. The new currency should be put in market at the beginning of the year of implementation and not during the year, the Bank noted. CBI was informed about the delay to apply Iraqi currency restructure and redenomination. The necessity to fully coordinate with the executive and legislative authorities requires delaying this project, CBI said in a statement which Alsumaria received a copy of. “This project bears within a vital importance for our country, economy and community”, CBI stated. The Central Bank of Iraq stressed the necessity to put the new Iraqi currency in market at the beginning of the year of implementation and not during the year, it concluded. My link Read more: http://dinarvets.com/forums/index.php?/topic/130692-cbi-delays-iraq-currency-restructure-and-redenomination/#ixzz28iyn7jkq 10-8-2012 Newshound Guru Kaperoni Article: "Central Bank decides to change the timing of the implementation of the restructuring of the Iraqi currency project and the deletion of zeros" This IMO is a very telling article. If they plan to have the currency (smaller denoms) in circulation at the beginning of the year, then the rate must change prior to that date. Here is the quote... "the new currency in circulation must be the beginning of the calendar year where it has been determined to begin implementation". So now we wonder will this be the beginning of 2013? If so, we can expect the rate to change at any time. If not, then they will shoot for 2014 with the new currency, and the rate can raise via float over the next 14 months. I do not see them waiting to 2014 because that decision will slow down the ISX, WTO accession, and economic progress/employment, etc. This is a very encouraging and promising article. 21 Link to comment Share on other sites More sharing options...
easyrider Posted October 8, 2012 Report Share Posted October 8, 2012 Wow!!!!!! i was just wondering about this and then you post Kap's thoughts excellent!! Thanks Thug. I would have to agree with Kap i dont believe they will wait till 2014 to introduce the LD's they have stated from the CBI and parliament and finance committee that the new exchange rate would be implemented in the 2013 budget. As always we wait and see what they do but i agree this is very encouraging news and even the lopsters can appreciate this LOL 12 1 Link to comment Share on other sites More sharing options...
rockfl9 Posted October 8, 2012 Report Share Posted October 8, 2012 I do not see why the rate must change before the release of the new currency ??? I think the CBI seriously expects to RD and release some of the new on 1/1/13...I think they have stopped replacing the old bills as they should and instead are spending the resources on the new bills and keeping them in storage...To keep he economy from stalling they eased the restrictions on the dollar! Wnen the new currency is available they may reverse that policy. They do not need all the new denoms on day one, just the ones with the most trade value... I dont know how they could do it BUT if at the same time they did change the rate to be equal to the dollar they could import US coins and not need to mint some of there own immediately. 7 11 Link to comment Share on other sites More sharing options...
Markinsa Posted October 8, 2012 Report Share Posted October 8, 2012 I do not see why the rate must change before the release of the new currency ??? I think the CBI seriously expects to RD and release some of the new on 1/1/13...I think they have stopped replacing the old bills as they should and instead are spending the resources on the new bills and keeping them in storage...To keep he economy from stalling they eased the restrictions on the dollar! Wnen the new currency is available they may reverse that policy. They do not need all the new denoms on day one, just the ones with the most trade value... I dont know how they could do it BUT if at the same time they did change the rate to be equal to the dollar they could import US coins and not need to mint some of there own immediately. If they don't change the exchange rate, the new currency will be worthless, and no one would use it. - 13 Link to comment Share on other sites More sharing options...
rockfl9 Posted October 8, 2012 Report Share Posted October 8, 2012 No. I said after they Redenominate ! Now One dinar is worth $0.86.....That is worth something...And as I suggested they could make it $1.00.....Only cost $10Bn in new reserves 3 7 Link to comment Share on other sites More sharing options...
easyrider Posted October 8, 2012 Report Share Posted October 8, 2012 No. I said after they Redenominate ! Now One dinar is worth $0.86.....That is worth something...And as I suggested they could make it $1.00.....Only cost $10Bn in new reserves wow...i mean this is very positive yet you choose to be a buzzkill admit it this is good for us as speculators of their currency. 4 1 Link to comment Share on other sites More sharing options...
RodandStaff Posted October 8, 2012 Report Share Posted October 8, 2012 Now that'z what were talkin bout, now before later... bring it on boyz... and git-r-dun!!! Thug... you simply crack me up... News with a twist of humor... love it!!! Come On RV Baby!!! 4 Link to comment Share on other sites More sharing options...
easyrider Posted October 8, 2012 Report Share Posted October 8, 2012 (edited) They have also went on record from the CBI itself and stated the new exchange rate would be implemented in the 2013 budget. Now what does that sound like to you? an RV or RD?hmmmmmm Edited October 8, 2012 by easyrider 5 Link to comment Share on other sites More sharing options...
RVPleaseToday Posted October 8, 2012 Report Share Posted October 8, 2012 Weren't we expecting last year the new rate in the 2012 budget? And also in 2011? Time means nothing to Iraq, it seems. 4 Link to comment Share on other sites More sharing options...
easyrider Posted October 8, 2012 Report Share Posted October 8, 2012 (edited) Weren't we expecting last year the new rate in the 2012 budget? And also in 2011? Time means nothing to Iraq, it seems. Shabbs never said nor did it come from the parliamentary board like this time around so id say yes this is different and they are ready. Let the fun begin. I believe the banks were just NOT ready as of last year and what i have been hearing they have been educating the Iraqi citizens on T.V about the currency, now would they be doing this and wait till 2014?hmmmm Edited October 8, 2012 by easyrider 7 Link to comment Share on other sites More sharing options...
SocalDinar Posted October 8, 2012 Report Share Posted October 8, 2012 I do not see why the rate must change before the release of the new currency ??? I think the CBI seriously expects to RD and release some of the new on 1/1/13...I think they have stopped replacing the old bills as they should and instead are spending the resources on the new bills and keeping them in storage...To keep he economy from stalling they eased the restrictions on the dollar! Wnen the new currency is available they may reverse that policy. They do not need all the new denoms on day one, just the ones with the most trade value... I dont know how they could do it BUT if at the same time they did change the rate to be equal to the dollar they could import US coins and not need to mint some of there own immediately. I have not seen any proof that currency is being printed on the CBI site, If they are being transparent why not show these tenders. They show the delarue machines but nothing on the new currency. Has it started, ? A few articles out in June saying they had samples and companies picked. 2 Link to comment Share on other sites More sharing options...
rockfl9 Posted October 8, 2012 Report Share Posted October 8, 2012 You are correct but the CBI would not need to announce to world just yet BUT Indirectly we have read : De Larue Machines ordered, Armored vehicles ordered Incinerators ordered Printers/mint selection Detailed descriptions of notes/ coins.. Some indication that proofs were shown. . Education sessions for banks/businesses Put all together. I think its going to happen this time 5 Link to comment Share on other sites More sharing options...
wpsmit Posted October 8, 2012 Report Share Posted October 8, 2012 tick tock, tick tock, waiting on Adam's text before I go getting all excited......(AGAIN) 4 Link to comment Share on other sites More sharing options...
MITCH10 Posted October 8, 2012 Report Share Posted October 8, 2012 No. I said after they Redenominate ! Now One dinar is worth $0.86.....That is worth something...And as I suggested they could make it $1.00.....Only cost $10Bn in new reserves One Dinar is not worth $.86 now it is worth $.00086. 4 Link to comment Share on other sites More sharing options...
rockfl9 Posted October 8, 2012 Report Share Posted October 8, 2012 I meant that AFTER redenomination the term "one dinar " would mean a value of $0.86! 2 Link to comment Share on other sites More sharing options...
DinarThug Posted October 8, 2012 Author Report Share Posted October 8, 2012 More From Kap ..... 10-8-2012 Newshound Guru Kaperoni There is a very good chance that Iraq will not introduce the "new currency" till end of 2013 or sometime in 2014. But that has nothing to do with us as they must raise the value first. And it makes no difference in the budget until the value is greater than the USD. Once the value is greater than the USD, that is when they will make it "official" and start a new year with it on a legal level. Example, the dinar could be worth .10, .50, or even .86 all through 2013. Then in Jan 2014, they could declare "we have deleted the zeros" and all transactions and accounting records are adjusted accordingly as Saleh states. Another example could be a RV at a staging rate of 1 to $1 leaving it in place for 6-12 months as they transition from the current currency to the new currency....and then in Jan 2014 declare..."we have deleted the zeros". So you can see, the "actual declaring" is simply a date in which zeros are removed and goes into effect in country and more than likely would be at the beginning of a year but has nothing to do with us as most of us will cash out at some rate we are comfortable with. - CNN B) 7 Link to comment Share on other sites More sharing options...
Elixirbaby Posted October 8, 2012 Report Share Posted October 8, 2012 More From Kap ..... 10-8-2012 Newshound Guru Kaperoni There is a very good chance that Iraq will not introduce the "new currency" till end of 2013 or sometime in 2014. But that has nothing to do with us as they must raise the value first. And it makes no difference in the budget until the value is greater than the USD. Once the value is greater than the USD, that is when they will make it "official" and start a new year with it on a legal level. Example, the dinar could be worth .10, .50, or even .86 all through 2013. Then in Jan 2014, they could declare "we have deleted the zeros" and all transactions and accounting records are adjusted accordingly as Saleh states. Another example could be a RV at a staging rate of 1 to $1 leaving it in place for 6-12 months as they transition from the current currency to the new currency....and then in Jan 2014 declare..."we have deleted the zeros". So you can see, the "actual declaring" is simply a date in which zeros are removed and goes into effect in country and more than likely would be at the beginning of a year but has nothing to do with us as most of us will cash out at some rate we are comfortable with. - CNN B) I vote they start raising the value tomorrow. Just sayin 10 Link to comment Share on other sites More sharing options...
SocalDinar Posted October 8, 2012 Report Share Posted October 8, 2012 (edited) You are correct but the CBI would not need to announce to world just yet BUT Indirectly we have read : De Larue Machines ordered, Armored vehicles ordered Incinerators ordered Printers/mint selection Detailed descriptions of notes/ coins.. Some indication that proofs were shown. . Education sessions for banks/businesses Put all together. I think its going to happen this time I guess they are more transparent than our Government If I felt that a RD was going to happen i probably would be out of this investment. Why stay in a losing venture To many other good opportunities out there. I would never trouble my self again with this if I thought I would not gain If they RD we will be at the mercy of the currency exchanges which could hit us with any spread they want 50- 60 % And that is why Im still in because I believe they must correct the rate, Edited October 8, 2012 by SocalDinar 2 Link to comment Share on other sites More sharing options...
doctor robbins Posted October 8, 2012 Report Share Posted October 8, 2012 If they introduce a new currency they will have a rate assigned to it. The rate of the IQD won't change. They will co-exist for two years with two rates until the IQD is demonetized. They don't have to change the rate for a new currency. 3 3 Link to comment Share on other sites More sharing options...
kjwayne Posted October 8, 2012 Report Share Posted October 8, 2012 "I,M READY"! 2 Link to comment Share on other sites More sharing options...
billio0 Posted October 8, 2012 Report Share Posted October 8, 2012 If they introduce a new currency they will have a rate assigned to it. The rate of the IQD won't change. They will co-exist for two years with two rates until the IQD is demonetized. They don't have to change the rate for a new currency. Hi doctor robbins, Please forgive me for being a bit dense, but could you provide an example of what you mean about 2 rates existing simultaneously? I am having a problem understanding how this would work. Billio0 3 Link to comment Share on other sites More sharing options...
nonstop Posted October 8, 2012 Report Share Posted October 8, 2012 Kaperoni....LOL! 2 6 Link to comment Share on other sites More sharing options...
rockfl9 Posted October 8, 2012 Report Share Posted October 8, 2012 The current dinar stays 0.00086 currency code IQD.... The new dinar , worth 1000X more will be 0.86 probably code IQN. Then when all old dinar are demonitized they may go back to IQD. 2 1 Link to comment Share on other sites More sharing options...
endeavor1 Posted October 8, 2012 Report Share Posted October 8, 2012 (edited) So far they've listed many articles about deletion of zero's, they've mentioned a managed float & raising the value of the dinar against the dollar, but as far as we know, nothing else needs to be done except raise the rate, looks like we're pretty close. I'll be happy with anything for starters, although I think the rate will climb faster because of the boom effect, many contractors will pour into Iraq....jmho Edited October 8, 2012 by endeavor1 5 Link to comment Share on other sites More sharing options...
TinBadge Posted October 8, 2012 Report Share Posted October 8, 2012 Doctor robbins seems to think the IQD will stay @ .00086 while the new currency is passed to the people. Kinda make it sound like we will not make any profit on the dinar we hold now. Anybody have any info on this posible outcome? 1 Link to comment Share on other sites More sharing options...
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