Parliamentary Finance: Central Bank starts during the current year measures the deletion of zeros from currency

[dontlop]

with a govt budget of over 100 billion dollars .. i dont see iraq getting along with 30 billion dollars worth of dinars ..i see the  amount of  phisical dinars as a  percentage of  what they end up with  as a total in the cbi ..

 

id say the entire country should be  backed by around  3 trillion dinars worth a dollar each .. some for debt ..  some for reserves .. some for general circulation

ect.

the 30 billion dinars is just phisical cash

i think this article is talking about how many phisical notes they will have  and what denominations they will be printing

[Belecosity]

well....... I don't know what there going to do about the RD. but I am assured I will make money.... Call it faith. I will never give up. I know it's going to pay off.

[dontlop]

well....... I don't know what there going to do about the RD. but I am assured I will make money.... Call it faith. I will never give up. I know it's going to pay off.

i agree

not to be taken lightly ..

 

 

its a big deal ... to the kurdish people to have the kurdish language on the iraqi dinar .... when they see their language on the dinar .. they are going to fall in love with it

[SnowGlobe7]

As I have said before....i just worry that if they do issue a new currency, that we will be able to exchange our DInar for the new Dinar without a plane ride to Baghdad. 

[dontlop]

all iraqis will fall inlove with their new dinar thats equal to a dollar .. a big part of those dollars in circulation will be  buying their new dinar .. the foriegn reserves will  go up significantly .. giving them the ability to maintain its international rates by  keeping external debt under control  with those reserves .. 

 

As I have said before....i just worry that if they do issue a new currency, that we will be able to exchange our DInar for the new Dinar without a plane ride to Baghdad. 

i personally have emiailed citi bank and explained our situation .. and let them know that we are going to need an outlet  ,, if the dinar does  change and we need to exchange them .. i told them its in the billions of dollars worth .. and they should look into setting something up .. they already are dealing with the dinar and iraq .. i asked them to set something up with iraqs govt and citi  world link

[mrref]

Anybody ever think that the CBI personnel are nothing but PUMPERS. I've been in this dinar investment for almost 10 years and I have heard this zero story a thousand time.

[dontlop]

all banks have their email on their web site ..  it cant hurt to make banks aware of our situation and our needs

Anybody ever think that the CBI personnel are nothing but PUMPERS. I've been in this dinar investment for almost 10 years and I have heard this zero story a thousand time.

heck ya ive thought about that . they pumped it for years ,, now the anti pump to bring them back in ..

[greeneyedlady]

I don't want to sound stupid with this question, but here goes...

 

If I 'found' a $1000 us bill, and went to the bank, would they be obligated to give me face value for it? It's legal tender so they would have to honor that note..

 

99.9% of all of us 'dinar holders' hold 25,000 dinar notes, and all notes that have been available to us have three -0-'s on them. Because it is 'legal tender' wouldn't they have to honor these notes, regardless of the re-domed new notes?

Edited April 13, 2013 by greeneyedlady

[boomer113189]

I don't want to sound stupid with this question, but here goes...

 

If I 'found' a $1000 us bill, and went to the bank, would they be obligated to give me face value for it? It's legal tender so they would have to honor that note..

 

99.9% of all of us 'dinar holders' hold 25,000 dinar notes, and all notes that have been available to us have three -0-'s on them. Because it is 'legal tender' wouldn't they have to honor these notes, regardless of the re-domed new notes?

if you hold a 1000 dollar us note they will give you 1000 for it as for the dinar if they RD = delete the zeros they will set and exchange rate for the old dinar for 1 new dinar. lets say the set the rate for 1000 old dinar for 1 new dinar like they have said that would mean 1 25k note will get you 25 new dinar . they are still giving you 25k but in the new dinar

[greeneyedlady]

if you hold a 1000 dollar us note they will give you 1000 for it as for the dinar if they RD = delete the zeros they will set and exchange rate for the old dinar for 1 new dinar. lets say the set the rate for 1000 old dinar for 1 new dinar like they have said that would mean 1 25k note will get you 25 new dinar . they are still giving you 25k but in the new dinar

 

Ok, so basically you would 'break even'..

[dontlop]

I don't want to sound stupid with this question, but here goes...

 

If I 'found' a $1000 us bill, and went to the bank, would they be obligated to give me face value for it? It's legal tender so they would have to honor that note..

 

99.9% of all of us 'dinar holders' hold 25,000 dinar notes, and all notes that have been available to us have three -0-'s on them. Because it is 'legal tender' wouldn't they have to honor these notes, regardless of the re-domed new notes?

the way i see it .. it depends on what  the cbi does . its their job to issue legal tender ...

 

 if they are going to do an even up lop .. they wouldnt need  the govt approval no loss no gain ,, ..if they are going to do something like change the amount of  monetary units that the govt  is going to be responsible for ,, then i think the govt will be involved ..

 

i see alot of govt participation in this  move .

[boomer113189]

yeah minus the spread when you cash out

[dontlop]

adding small  denominations to  the mix isnt always a rd ..

 

when the us added the 2 dollar bill ..to make exchanges easier ., it didnt change anything ..

 

the large notes could be eliminated just because of demand .. .. why would a comman person need a 25,000 note if they were worth a dollar per dinar ..

 

 

over a certain time period they would be removed on their own .. like our 10,000 note was in the us .. we simply dont need them any more

theres a couple ways to look at this ..

the only thing forsure as to why these notes will eventually be demonetized is .. that the consititution says the kurdish language must be on the dinar  with arabic

Edited April 13, 2013 by dontlop

[Belecosity]

"the local currency will reduce from four billion units to one billion units which will make there Anciabh in the process of the transfer of currency."

 

What are they attempting to do by this? what does this mean?

Dontlop? --Im trying to grasp this.

[zigmeister]

Iraq says many things.  They recycle old articles and spin it for whatever reason.  For me, I no longer get wound up by the RD articles, many of us have read this crap for far too long.  What I do is focus on is this, they have stated RD for years, but nothing has happened.   Pertaining to Iraq watch what they do, not what they say they are going to do.  It is usually two different things.

[dontlop]

"the local currency will reduce from four billion units to one billion units which will make there Anciabh in the process of the transfer of currency."

 

What are they attempting to do by this? what does this mean?

Dontlop? --Im trying to grasp this.

im like you .. i dont know.. if they give the dinar more value per dinar .. they can accomplish  the same goal with fewer notes ..

 

i read those notes are not cheap . like over a dollar for each note ..

 

 cutting costs of printing notes that sometimes only have a 2 or 3 year life span ..

 

printing on that expensive paper .. making it counterfit proof  with all those security features .. is expensive ..im pretty sure i saw they cost like $1.30  for each note ..

they want to go digital with smart cards

[TheArtistFormallyKnownAs]

If they do LOP we wont break even we will have to go through dealers or will have to go to Iraq, and the dealers are going to ride us.

[dontlop]

 but ive heard the new notes would  cost 700 million dollars ..and other numbers to . so who knows .. i dont think they know

700 million dollars for a billion notes ?

hopfuly  the banks open up for the exchange ... and it gets competitive if it lops

[Belecosity]

im like you .. i dont know.. if they give the dinar more value per dinar .. they can accomplish  the same goal with fewer notes ..

 

i read those notes are not cheap . like over a dollar for each note ..

 

 cutting costs of printing notes that sometimes only have a 2 or 3 year life span ..

 

printing on that expensive paper .. making it counterfit proof  with all those security features .. is expensive ..im pretty sure i saw they cost like $1.30  for each note ..

they want to go digital with smart cards

That is my thought on giving more value to dinar. I just am trying to figure out if the're talking RV? How could this be done with an RD?

Seems like such an out of place statement to me for an RD article....

Wow that is expensive currency...I did not know that.

[dontlop]

im hoping that  they just co exist till the large notes are gone  by lack of demand .. therefore deleting the zeros by policy  of dollarization .. rv .. de dollarization and adding small denominations to make exchanges easier in the market

yes those delarue notes are expensive .. the polimer notes are even more i believe

[boomer113189]

If they do LOP we wont break even we will have to go through dealers or will have to go to Iraq, and the dealers are going to ride us.

we will be able to go through dealers

[dontlop]

im like you .. i dont know.. if they give the dinar more value per dinar .. they can accomplish  the same goal with fewer notes ..

 

i read those notes are not cheap . like over a dollar for each note ..

 

 cutting costs of printing notes that sometimes only have a 2 or 3 year life span ..

 

printing on that expensive paper .. making it counterfit proof  with all those security features .. is expensive ..im pretty sure i saw they cost like $1.30  for each note ..

they want to go digital with smart cards

i cant find anything near that cost . so im backing off on that cost  pe note .. im seeing much lower prices now .. but those notes with metal in them and watermarks i heard were very expenseve ..

 

 the us is printing notes  for between 5 and 10 cents each

[zul]

deleting the zeros means on all the dinars that are out

 

Deleting zeros means...new currency minus the 3 zeros ~ the lower denoms.

[SnowGlobe7]

I sure hope you are right Zul.

[boomer113189]

Deleting zeros means...new currency minus the 3 zeros ~ the lower denoms.

yes when they RD = delete the zeros they will introduce all new currency along with new lower denoms and coins