2003 white house answering questions on the Dinar!!

[SnowGlobe7]

Keep is a little tough with the words, and never misses the chance to prove his point....but I think he is full of knowledge.

 

I think maybe has just losst patience with this ride a little on some days.....but dont we all

[JMULS31]

I love how everyone keeps saying there tired of this ride. It wasn't it long ago when it was considered that the US "pulled" out of Iraq. While we were on the streets fighting, there is no way in HELL the dinar would revalue. One of the reasons why I didn't start paying attention until February this year.

[4aprofit]

Here is what I found interesting from the article............................

 

Security & Counterfeit Information regarding the New Iraqi Dinar!

(I LIKE IT WHERE FORMER GENERAL HUGH TANT III, STATES THAT THERE ARE SOME SECURITY FEATURES IN THIS MONEY THAT HE CANT TELL US ABOUT?....I HAVE ALWAYS WONDERED WHY THEY SPENT SO MUCH ON THIS CURRENCY, AND WHY IT WAS MADE SO SECURE, IF IT WERE TO NEVER HAVE A REAL VALUE...INTERESTING)

(IRAQ PUT OUT A NEWS ARTICLE A WHILE BACK, THAT THEY WERE ONLY FINDING 25,000 COUNTERFIET DINARS PER EVERY 1 BILLION IN CURRENCY, SO I WONDER IF ALL THE CONSTANT BORAGE OF ARTICLES, OF THEM CONSTANTLY COMPLAINING ABOUT COUNTERFEITTING...WAS TO DETER SPECULATION)

Michael, from Collegedale,TN writes:
Have you encountered any counterfeit bills yet in Iraq? If so how many? And what preventive measures are you taking?

Hugh Tant III:
Counterfeit bills have definitely been encountered in the old Dinar here in Iraq. This is one of the primary reasons for changing to a new currency.
The Iraqi people deserve a single, stable and secure currency which is the first step toward economic prosperity. The US Secret Service has reported that there were roughly two counterfeit notes per thousand in the old currency. That is a high rate.
The new currency has many security features which dramatically reduces the ability to counterfeit it. For example, it has a watermark, raised letters and numbers, very high quality paper and metallic thread in each of the bills.
Millions of posters and handbills distributed all over Iraq explained these new security features to the people. Obviously, as with US bills, there are additional security features that are kept secret. Unfortunately, I can't tell you what those are. Additionally when an Iraqi opens their wallet or purse, they are no longer reminded of Saddam since his image has been eliminated.




Sean, from Midlothian, Virginia writes:
What are the short and long-term benefits of the adoption of the dinar as the currency in Iraq?

 

Hugh Tant III:

The currency needs to be stable....
To finance his endeavors, saddam printed his money which led to high inflation and undermined the confidence in the economy. Ambassador Bremer has announced a ban on inflationary financing in the government -- this is a precondition for a stable currency which is essential for sustanable growth
It needs to be secure.....
The "print" Dinar sometimes known as the Saddam's Dinar was a cheap currency on poor quality paper and few security features. As a result, there were widespread concerns about counterfeits which undermines trust in the currency. Thje new currency is state of the art. Made of durable paper and features a number of anti-counterfeiting features. And some of those features are watermarks, raised printing of the numbers and the words, and a metallic strip.



All info derived from this link/blog, from the White House: http://georgewbush-whitehouse.archiv.../20031120.html

[Nadita]

I love how everyone keeps saying there tired of this ride. It wasn't it long ago when it was considered that the US "pulled" out of Iraq. While we were on the streets fighting, there is no way in HELL the dinar would revalue. One of the reasons why I didn't start paying attention until February this year.

JM,

 

You meant you were still in diapers..?