Scarcity of small denominations due to unwillingness of banks to deal with them

[MrOptimistic]

Expert: the scarcity of small-class currency due to the unwillingness of banks to deal with them

 

 

24-10-2013 10:30 AM

 

 

Baghdad (news) .. Financial expert attributed Ahmed ابريهي, the cause of the scarcity of small-class currency in the Iraqi market, to the unwillingness of banks to deal and do not receive from the central bank. 

He said ابريهي (of the Agency news): that most banks do not receive a paper currency with a small class (250, 500 and 1000) dinars, the central bank and to go ahead deal out, Maady to scarcity in the Iraqi market. 

Called ابريهي: Iraqi banks that receive large numbers of small-class currency from the central bank and posed in the market to satisfy needs, noting that the move will allow the bank to find out from the currency market's needs and increase reprinted. 

He added: The scarcity of this category resulting in ماموجود damage to trade, noting that the citizen can replace damaged currency has new ones through banks an easy and legal treatment. 

The Finance Committee confirmed that the reasons for the scarcity of the currency with small groups to speed damaged, prompt the central bank to print new ones and pull the damaged them to create a balance amount in the Iraqi market categories. / End / 5.. /

 

 

http://translate.googleusercontent.com/translate_c?depth=2&hl=en&rurl=translate.google.com&tl=en&u=http://www.ikhnews.com/index.php%3Fpage%3Darticle%26id%3D105392&usg=ALkJrhi8Gqqyt3Ce_ST1hK5ERJFW6f9Pow#sthash.3QRzgiXT.dpuf

 

[jeepguy]

time to do a study , get some professional students in the mix,   study why , no one will mess with a currency that is worth .1160 per one dinar .   or better yet come to dinar vets  and ask ,  someone who has been here over 2 years how and why ,   most likely their response will be ---->  get your value close too the 1 too 1 mark ,  bring out your lower notes  , and then you will see your currency start moving in a good way !    

[skeetdog]

At least they're talkin' about stockin' the banks with the smaller note. Maybe they see a need for the smaller note to have a purpose in the markets. Say, a loaf of bread for 250 dinars beside the 25,000 dinar...

[millionaire in training]

I think they're trying to say

 

On your marks......Get set........GOOOOOOOOOOOOOOOO RV

[GGGECKO]

I think they're trying to say

 

On your marks......Get set........GOOOOOOOOOOOOOOOO RV

Let us hope. Everything seems to be aligning. Go RV Good Luck everyone.....

[magawatt]

Make it worth their while.

[umbertino]

Still with ( a glimpse of) hope after 9 years.......Trying my best.

[millionaire in training]

Still with ( a glimpse of) hope after 9 years.......Trying my best.

You hang in there buddy   ....... You'll see 

[PrettyKitty]

YES !  You all are thinking positive again......GoRv

[WorkerBee]

Still with ( a glimpse of) hope after 9 years.......Trying my best.

 

I can't imagine 9 years of this.  If you don't mind sharing, who, what, why or how did you come to owning dinar?   If you don't want to share, that's okay too.

Edited October 26, 2013 by WorkerBee

[MrOptimistic]

I can't imagine 9 years of this.  If you don't mind sharing, who, what, why or how did you come to owning dinar?

His online handle is umbertino but most people know him by his real name, Dickk Cheney. 

Edited October 26, 2013 by MrOptimistic

[Butifldrm]

I have come to the realization that truly, the lack of viable currency is a direct outcome of the manipulation of the people who'm only 20% use banks to open accounts.  In other words you want cash, you need to open an account and use electronic currency.  

 

Expert: the use of electronic systems, financial transactions will reduce paper currency exposure to damage and theft. 


25-10-2013 07:21 AM

Baghdad (news) .. Economic expert said Dergham Mohammed Ali, the importance of the use of electronic systems to financial transactions, to reduce the use of paper currency prone to damage and theft.

Said Mohammed Ali (of the Agency news): The electronic systems of the best ways applicable universally being reduced from dealing currency paper prone to theft and damage, indicating possible to be used to pay large sums of money that can not be moved manually from the provinces by mobile phone or card electronic payment.

He added: electronic systems in place in Iraq, but in a limited way, the fact that the culture around a few, on the banks to provide educational programs for citizens to know what it is.

And: that this system offers to the citizen financial transactions safer and urbanization, on the condition that the company is contributing to a trusted and sobriety and have adequate security systems to maintain the balance of its users.

He noted: the need to take mobile companies guarantees that the process is done the confidentiality and security of caffeine so that it maintains the assets of citizens in the event of the use of these services.

The project needs to be propaganda and media to educate citizens and learn how to use this technique, which will add a remarkable development of the Iraqi banking sector.

http://translate.google.com/translate?depth=2&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.ikhnews.com/index.php%3Fpage%3Darticle%26id%3D105477

 

http://translate.google.com/translate?depth=2&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.ikhnews.com/index.php%3Fpage%3Darticle%26id%3D105477

Edited October 26, 2013 by Butifldrm

[SocalDinar]

Hey Butifldrm! Hope all is well

I can't figure out how they are making change. Going on two years since we heard about scarcity of lower denoms.

Always a mention of a Taxi driver or a shopkeeper with torn and wore out notes that the banks won't honor.

I still think they need coins.

[MrOptimistic]

Hey Butifldrm! Hope all is well

I can't figure out how they are making change. Going on two years since we heard about scarcity of lower denoms.

Always a mention of a Taxi driver or a shopkeeper with torn and wore out notes that the banks won't honor.

I still think they need coins.

I do remember CBI members going to a gold minting conference in Europe about a year or so ago... They may be releasing gold coins and may use gold to back the Dinar b/c oil prices fluctuate quite dramatically with foreign tensions. Gold is very stable compared to Oil.

[SocalDinar]

I think that was a commemorative coin Mr optimistic. Like a Canadian Maple leaf US golden eagle and the krugerrand . Problem with gold is that the Fed and world banks manipulate the price as they see fit.

When their fiat currencies lose value you will see they flood the market to keep the price down.

[MrOptimistic]

I think that was a commemorative coin Mr optimistic. Like a Canadian Maple leaf US golden eagle and the krugerrand . Problem with gold is that the Fed and world banks manipulate the price as they see fit.

When their fiat currencies lose value you will see they flood the market to keep the price down.

yeah that could be.

 

 Propaganda and foreign tensions fluctuate the price of oil quite a bit.

 

I think the manipulation in Gold that you are referring to is b/c china is manipulating their currency exchange rate.

 

China’s Yuan Set To Become Global Reserve Currency With Gold Backing?

Read more at http://www.maxkeiser.com/2013/07/chinas-yuan-set-to-become-global-reserve-currency-with-gold-backing/#8feW43bj4DiVByjD.99

 

CHINA'S CURRENCY MOVES 11 YEAR HISTORY

• 2002 – The Chinese government launches theQualified Foreign Institutional Investor (QFII) program^[14]

• January 2004 – Retail depositors in Hong Kong are allowed for the first time to convert some of their savings into the renminbi^[15]

• July 2005 – China drops the U.S. dollar peg by fixing the renminbi’s exchange rate to a trade-weighted currency basket^[16]

• July 2007 – China issues its first batch of RMB-denominated bonds outside mainland territory^[17]

On November 24, 2010, Vladimir Putinannounces that Russia's bilateral trade with China will be settled in ruble and yuan, instead of U.S. dollars^[18]

• December 15, 2010 – The renminbi begins to trade against the ruble on the Moscow Interbank Currency Exchange^[19]

• December 2011 – China and Japan unveil plans to exchange each others' currencies directly^[20]

• June 2012 – The renminbi begins to trade against the Japanese yen in Tokyo and Shanghai^[21]

• April 10, 2013 – The renminbi begins to trade against the Australian dollar on the Australian foreign exchange market^[22]

• June 2013 – The Bank of England signs a currency swap agreement with the PBOC for ¥200 billion^[23]
  

  

  On October 15, 2013, the British Chancellor of the Exchequer George Osborneannounces that the pound sterling and the renminbi will be traded directly in London andShanghai^[24]

• August 2013 – The renminbi becomes the world's 8th most widely traded currency^[6]

• October 2013 – The European Central Bank signs a currency swap agreement with the PBOC for ¥350 billion^[25]

 

http://www.maxkeiser.com/2013/07/chinas-yuan-set-to-become-global-reserve-currency-with-gold-backing/

https://en.wikipedia.org/wiki/Renminbi

Edited October 26, 2013 by MrOptimistic

[SocalDinar]

The Fed does not want people holding physical gold. When people in mass have more faith in Gold than the USD it's end game for the buck. So you will see strange sales of gold by different nations when the value of gold is going up. This Happened about 18 months ago. Even Iraq sold a good portion of its gold back then Why? Remember who holds their foreign reserves, it's all in New York at the federal reserve

[MrOptimistic]

The Fed does not want people holding physical gold. When people in mass have more faith in Gold than the USD it's end game for the buck. So you will see strange sales of gold by different nations when the value of gold is going up. This Happened about 18 months ago.

 

It is illegal to own gold in the United States.

 

and the U.S. dollar is used by smaller economies to purchase oil, there is a lot of demand for oil, more demand for oil compared to gold.

 

Gold is usually used as a safe haven for when global recessions like 2008 occur.

 

The USD will be strong and stable as long as oil is being traded in high demand

[SocalDinar]

Wow you really are Mr Optomistic

Every fiat currency eventually fails. Every one including seashells. The world sees a 17 trillion dollar national debt and nations are worried. Breton woods was the beginning of the global experiment in a world wide fiat currency.

Germany called its gold recently. They were told by the fed and the bank of London that it could not happen till 2020

LOL maybe because we already spent it. The euro is done and the dollar is not far behind

Gold has been legal to own since 1975

[MrOptimistic]

Wow you really are Mr Optomistic

Every fiat currency eventually fails. Every one including seashells. The world sees a 17 trillion dollar national debt and nations are worried. Breton woods was the beginning of the global experiment in a world wide fiat currency.

Germany called its gold recently. They were told by the fed and the bank of London that it could not happen till 2020

LOL maybe because we already spent it. The euro is done and the dollar is not far behind

Yes you are right that every fiat currency has failed in history, but that is probably the reason the US used a false flag to invade iraq (to prop up the fiat dollar a bit longer)

[SocalDinar]

I hear you, but just a bit longer

It's a ponzi scheme and it will fail eventually as soon as they can't get new investors ( buying junk bonds )

Or the big boys cash out all at once.

[MrOptimistic]

Wow you really are Mr Optomistic

Every fiat currency eventually fails. Every one including seashells. The world sees a 17 trillion dollar national debt and nations are worried. Breton woods was the beginning of the global experiment in a world wide fiat currency.

Germany called its gold recently. They were told by the fed and the bank of London that it could not happen till 2020

LOL maybe because we already spent it. The euro is done and the dollar is not far behind

Gold has been legal to own since 1975

I do have a question tho, hoping you have an answer.

What is backing the Euro? I'm not sure of that one

[Butifldrm]

Hey Butifldrm! Hope all is well

I can't figure out how they are making change. Going on two years since we heard about scarcity of lower denoms.

Always a mention of a Taxi driver or a shopkeeper with torn and wore out notes that the banks won't honor.

I still think they need coins.

 

Socal, I'm doing well.  It appears Iraq/IMF is forcing the people of Iraq to use the fractional reserve  game, and truthfully it's the only chance we will ever have to get paid.  The private banks have to be set up, to be able to make money with the ability to lend 10 times the deposits.  Truthfully a great recipe for an emerging economy, but not an established economy as ours, as we are seeing in our own economy.  It appears the CBI may be starving the economy to negate the black market and force people to turn to the banks.  If the black market sells dollars for dinar, if you eventually have no Dinar to buy the Dollar?  What are your options?

[sandfly]

THANKS

[SocalDinar]

Good point Butifldrm Thanks .  The banks truly rule the World.

 

Mr Optomistic.

The USD is the world reserve currency and the EU holds largely USDs . How much gold they own is a mystery.