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Central bank: the project raise zeros from the currency is still deferred

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Interesting, what did they say? You do know that outside of Iraq and a few select people this is guarded intel beyond Fort Knox. So, I would tend to not believe (beleive) what most here say is intel. Even I had someone in the know say it would happen and I stand in wait. Hope they are just blowing smoke rather than dancing us all in circles. So many times they said it would be done by a certain time and that time has long past.

Peace.

The USA is no longer tied to a gold standard... Thanks to good ol Pres Regan. We just print what we need and the rest of the world has been tied to us. From what I hear they figured it out and now want to screw us for screwing them... I don't blame them! Yet they do need us regardless. I wish we could go back to the gold standard because our dollar would have more weight internationally and we would all be in a better place. Just for. What I know and IMHO....

Peace

President Reagan had nothing to do with the U.S. removal of tying the USD to gold.  It was President Nixon in 1971 who did this.

Currently there are no countries "tied" to the gold standard for the value of their currencies or the amount of currency they print. 

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Good news.......keep on delaying it.....especially after saying you are backing the dinar 2.5 times its current value......lets see you prove it.....

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Good news.......keep on delaying it.....especially after saying you are backing the dinar 2.5 times its current value......lets see you prove it.....

Like what your are saying tonight, Keep!

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May be they hide their true intention by saying The project raise zeros from the currency project is delayed or Iraq is not ready at the present time to delete the zeros from the Iraqi dinar  or blah blah blah whatever they like to say  " to avoid investors buying up all the dinars. Then who knows the next month BAAM they RV their IQD without advance notice. Please, don't ever ever panic when reading the articles like this folks.

 

 

 

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It's werid that they came out and said they delayed the deletion of the zeros!! Of course they won't tell us when !! I think things will speed up now that they are out of chapter 7!! HCL will be passed soon then the formation of the government , national meeting .. Then RV!!

 

I must agree... I'm excited!

MORE SMOKE I HOP

 

I hop too... must be something in the water! LOL

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This entire process is still going to take time... 24 moths more to the banking industry is a very short period of time.  We might be on this track till 2015... :confused:

If it takes 24 moths, by that time they will multiplied to 24,000 moths all eating the bills in the vault.  

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Interesting, what did they say? You do know that outside of Iraq and a few select people this is guarded intel beyond Fort Knox. So, I would tend to not believe (beleive) what most here say is intel. Even I had someone in the know say it would happen and I stand in wait. Hope they are just blowing smoke rather than dancing us all in circles. So many times they said it would be done by a certain time and that time has long past.

Peace.

The USA is no longer tied to a gold standard... Thanks to good ol Pres Regan. We just print what we need and the rest of the world has been tied to us. From what I hear they figured it out and now want to screw us for screwing them... I don't blame them! Yet they do need us regardless. I wish we could go back to the gold standard because our dollar would have more weight internationally and we would all be in a better place. Just for. What I know and IMHO....

Peace

 

It was actually FDR who started the process in 1933 and it was completed during the Nixon administration (1975).

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This is GREAT news!  There was somewhere in either that article or another where he mentioned "getting thru the bottleneck" (I think, man so many articles lol).  Why is this good?  Because originally I think they did intend to redenominate and the potential of making money that way wasn't as good as just letting it float.  I think from what he means....he means 'Iraq is in a good position economically now that we don't need to redenominate now...we can do that later after the value has risen."  Which after it gets up to maybe a buck, they could then redenominate and pull in some more larger bills to cut money supply...to get it up to the 3.00 they were wanting it to be!  They might have some lower denominations now coming out, but I don't think they are ready to redenominate yet.  I think they are planning that for the future ( 5-6 years down the road).  They just need to get it to a buck to have the Iraqis to stop using the US dollar.  This will create a greater demand for the IQD, and we HOPE they have pulled at least half the dinar in.  They say 33 trillion...I just don't believe most of it is working dinar, especially with the release of their frozen assets, Gold article today, and also their reserves going up to around 80B.  They keep adding value to back that dinar...the 500/1 slowly starts coming into 400/1, 300/1...maybe down to 100/1 then rises up.  Keep the good articles coming!!!

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A fellow thinker in the language...ahhhhh

Most people don't know the meaning of raze.

Read more: http://dinarvets.com/forums/index.php?/topic/153321-central-bank-the-project-raise-zeros-from-the-currency-is-still-deferred/#ixzz2Y6oDo4yE

 

 

:lol:  You do if you've served in the military. Give me a couple of Hornets, a Stealth, and a B-1

 

And I'll raze allot of hell. 

 

Wheres my explosion smiley face?  :lol:

 

0073.gif

 

 

 

 

Edited by Markinsa
Added Plane

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Gold took a dive last week and perhaps they may of been ready but are now hesitant to change the value of their currency for it to become more stable once again. Interesting to see them the value of dinar on par with gold and not all their resources as this is what the US currency is based off of and they could as well equal the value of the dinar to the US dollar.. Just a thought and opinion....

 

Just a note on what the USD is based on...it has not been based on gold or resources for many years.   the value of the USD is based on faith...your faith...to keep exchanging the paper for goods and services...and the USD value is based on the whims of one Ben Bernanke.

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Heywtfo and Tirebiter: Thank you for knowing a little about our own dollar and its history :)

 

Badrabbit

 

P.S. Thanks to all those people who have paid for my right to be an American and speak English instead of German and who made sure I can freely vote (not that has done much good lately;), Thank you for all you have done

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Maybe they are planning to add small denoms to the current fleet and pull out the 000 overtime.../ with their smard cards, they wont be needing much use for both small and large denom.

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Good news.......keep on delaying it.....especially after saying you are backing the dinar 2.5 times its current value......lets see you prove it.....

Keep..... no disrespect here.   Did you not really mean 2500 times it's current value?   From what I saw they stated  "two dollars and a half dollar for each dinar inside and outside" where the current value is 1166:1.  Set me straight if I'm wrong.  :)

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President Reagan had nothing to do with the U.S. removal of tying the USD to gold.  It was President Nixon in 1971 who did this.

Currently there are no countries "tied" to the gold standard for the value of their currencies or the amount of currency they print.

Actually you are correct! Nixon... Lol. Believe it or not a long weekend.

I usually come here late at night, but stand corrected. Anyway we are not on the gold standard. Thanks for correcting me though.

Peace

President Reagan had nothing to do with the U.S. removal of tying the USD to gold.  It was President Nixon in 1971 who did this.

Currently there are no countries "tied" to the gold standard for the value of their currencies or the amount of currency they print.

Actually you are correct! Nixon... Lol. Believe it or not a long weekend.

I usually come here late at night, but stand corrected. Anyway we are not on the gold standard. Thanks for correcting me though.

Peace

Inoperable everyone had a great July 4th. My daughters bday,!

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Keep..... no disrespect here.   Did you not really mean 2500 times it's current value?   From what I saw they stated  "two dollars and a half dollar for each dinar inside and outside" where the current value is 1166:1.  Set me straight if I'm wrong.  :)

 

There is said to be about 33 trillion IQD in circulation which is worth about 30 billion USD. Iraq said they have 80 billion USD in reserves which means they are backing it by about 2.5 NOT 2500.

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There is said to be about 33 trillion IQD in circulation which is worth about 30 billion USD. Iraq said they have 80 billion USD in reserves which means they are backing it by about 2.5 NOT 2500.

If the dinar was CURRENTLY worth a dollar (which it's not- it takes 1166 of 'em to make a dollar) then the increase would be 2.5 times but since the dinar is currently 1166 to the dollar that increase to $2.50 would be approximately 2915% increase in value.

Example....    dinar worth a dollar-  hence $1.00 times  2.5 (2.5 "times) equals =   $2.50

                     dinar worth  1166 per dollar (which is the current rate)   hence $.00086 times  2915  (2915 times) equals =  $2.5069

Cool?

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If the dinar was CURRENTLY worth a dollar (which it's not- it takes 1166 of 'em to make a dollar) then the increase would be 2.5 times but since the dinar is currently 1166 to the dollar that increase to $2.50 would be approximately 2915% increase in value.

Example....    dinar worth a dollar-  hence $1.00 times  2.5 (2.5 "times) equals =   $2.50

                     dinar worth  1166 per dollar (which is the current rate)   hence $.00086 times  2915  (2915 times) equals =  $2.5069

Cool?

 

I'm not sure I follow this one. The article stated they have 80 billion USD, and that they have approximately 2.5 USD's worth in reserves as there are currently dinar in circiulation.

 

33,000,000,000,000/1166 = 28,301,886,792.45283 (This is the value of circulated dinar converted to USD)

 

80,000,000,000/28,301,886,792.45283 = 2.826666 (This is the multitude of which the value of the dinar can be increase and still be covered)

 

1166/2.826666=412.5 (This is the value that the dinar would be able to handle on USD reserves alone to the dollar. 412.5 dinar to 1 dollar).

 

How would they be able to back 33 trillian dinar turning a value of 1 to 1 with only 80 billion USD, let alone 2.5? that would mean they are secretely holding an extra 32,920,000,000,000 dollars somewhere. (98,920,000,000,000 for a 2.5/1 conversion).

 

Anyway, that's enough maths... I'll save any other posts I make about this article for the thread relating to this article...

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  • If the dinar are 1260 per USD and they lop it to 1.26 to USD you would be happy right? just askin'   :twothumbs:

dare to believe!

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  • If the dinar are 1260 per USD and they lop it to 1.26 to USD you would be happy right? just askin'   :twothumbs:

dare to believe!

 

absolutely not...............NO "Redenomination" , what we want is a straight increase in value, RV or RI

Edited by sportfisher

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If it takes 24 moths, by that time they will multiplied to 24,000 moths all eating the bills in the vault.  

Neither the U.S. nor Iraq cannot afford to wait another 24 months.

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So the currency is old and falling apart. The government will not issue new notes. They are not recalling their high value notes. They will not being removing zeros from the currency. Merchants are gouging the poor and elderly and refusing their notes. Iran and Syria are paying top dollar for the dollar (on pun intended). The auctions are not  accomplishing what they are intended to do. There is a movement to pay gov't salaries with a type of debit/MasterCard. The government recently hired monetary experts to train Iraqis in international banking regulations and practices.

 

There is an entire generation of Iraqi's that have lived under international sanctions. 20 YEARS! They have funds all over the world that have been frozen. Do they even know where it all is? Their economy is expected to grow at a rate of 9% compared to the rest of the world at a meager 2-3 %. They have huge reserves of natural resources still untapped/unvalued.  

 

Throw in decades of graft and corruption, embezzlement, theft and lawlessness and govt officials that have personal agendas.

 

Is it any wonder they are still trying to get their arms around this? Sounds like they are putting the processes in place to be able to handle their new independence and join the electronic world of finance, economics and banking.  It will take some time. Besides, when this is over, what will I read at 5 A.M. when yota no longer has a reason to post?

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