Project Will Lead To Reducing The Rate Of The National Currency In Circulation From Four Billion To One Billion Notes !

[moneysoon]

If they have indeed reduced the note count from 9 Billion to 4 Billion since 2010 the dinar should have increased in value dramatically...BUT it hasn't.  It has dropped in value.  Also, the stated money supply by the CBI does not indicate any such reduction has taken place.  Just more propaganda from this Breitling guy maybe so he gets richer selling more dinar to people believing him.

 

Be careful......The so called "Guru" Breilting that you are calling out has in fact been the primary if not only "guru" banging the "watch the note count" hammer for over three years straight as an indicator of where we are at in this thing. Secondly, he has also said, which many of us around here also agree, that the CBI is purposely keeping the rate down so that they 1) can rebuild their country on the cheap, no different that Germany post WWII, 2) Offer a greater or more stable new exchange rate having drawn in surplus notes out of circulation, 3) combating corruption by trying to locate embezzled and counterfeit funds while they reduce the note count and 4) they are working on major economic and infrastructure legislation so that they can support the new rate e.g. HCL, Investment Laws, Article VII. So.... the rate would not necessarily be increased by the CBI even though they had achieved a substantial note reduction for the reasons stated above.

 

We are all in this for various reasons. My caution on calling people out is that this practice often shows what we really know and don't know about this speculation. My mother used to tell me when it came to spouting off at the mouth, "it is better to be silent and people wonder if you are a fool than to speak and confirm it." I have tried to live by her admonition and that of Scripture which teaches me to, season my words with grace. None of us are perfect, let's try to give a break to those who are trying to do good.

 

Blessings All,

[billio0]

However saying the dinar was devalued by the international community is nothing but guru hype.

 

 

Thanks once again _RFJ for your response to my question.

 

However, according to your reply I have fallen victim to a most grievous error in judgment based on my apparent misconception regarding misrepresentation of the previous value relative to the current value of the Iraqi Dinar.

 

Thus, I beg your forgiveness for my lack of clarity to please indulge me once more in explaining just how there was any means by which the IQD could ever attain a value above and beyond its current value, in the form of an upward revaluation, if in fact it never had value to begin with?

 

Since you profess to being "very Pro-RV" as you put it, which I presume to mean your expectation for an increase in value, just what is the basis for your being so?

 

I am sincerely confused at this point, and mean you no disrespect with my follow-up question, nor is it some veiled attempt to ensnare you in controversy since there are some who visit this site just for that purpose. I am NOT such a person.

 

Billio0

[DinarThug]

The Swiss Dinar Was Later Followed By The 'Velveeta' Dinar !

And After Many Years At An Administratively Fixed Rate - It's Now Known As The "Gub'ment Cheese" Dinar !

[billio0]

And After Many Years At An Administratively Fixed Rate - It's Now Known As The "Gub'ment Cheese" Dinar !

:D

DT,

 

You're just too funny.

 

Yet, it sounds like your theory has "holes" in it, and smells a little like limburger to me. Whew!

 

Billio0

[_RFJ]

Since you profess to being "very Pro-RV" as you put it, which I presume to mean your expectation for an increase in value, just what is the basis for your being so?

Again, no problem.

The Iraqi dinar prior to, and during the early years of the Saddam regime, did have a true value above that of the US dollar. At that time they were global players in areas of international trade, their main commodity being oil.

The country of Iraq has made it well known of their intention to rejoin the globe as they were prior to Saddam. I'm no expert in global economics, in fact, far from it. But I know they can't do this under a dual currency system, and as such, will have to do something about the rate if they hope to get their citizens off of using the dollar.

It is my belief, based upon a few years of reading, that that is exactly what they intend on doing and as a result await said change just like you.

[dontlop]

Lots of the smaller notes were destroyed from every day use to make change

The 50 notes the 250'notes the 500 notes

Just think how many more of the smaller notes they had than the 25k notes

Billions more

One billion 25 k notes is 25 trillion dinar

One billion 10k notes is 10 trillion dinar

1 billion 5k notes I'd 5 trillion dinar

1 billion 1k notes is a trillion dinar

So if they had a trillion dinars in 500 notes that's 2 billion notes

A trillion dinar in 250 notes that's 4 billion notes

A trillion dinar in 50 dinar notes is 20 billion notes

There not all big notes that are being removed

We have read many times about the lower denominations being destroyed because of the heavier use I making change kids handling them and so on

Then we still have the electronic dinar which has been replacing the phisical currency and as they use the kcards more and more they won't need the same amount of notes which is a big expense printing them up

So the digital notes and the phisical notes have the same purchasing power so it doesn't matter that they are reducing phisical currency ( notes )

The money supply has to be reduced to add value , not the number of notes in circulation

[dontlop]

But I must add more money won't be leaving the banking system if people are using cards

It is just being transferred from one deposit account to another deposit account instantly by computer , it never leaves the bank every bank belongs within the central banking system

Those dinars don't need any backing by the cbi unless they are transferred out of Iraq which they don't do because it's just a local currency

If you look on the cbi web site it shows below the m2 money supply another catagory which says of which is deposits

So the more money out of circulation

The more on the balance sheets inside the cbi banking structure the better chance for a rv

Edited August 24, 2014 by dontlop

[dontlop]

Right now 52 trillion dinar are the deposits part of the 80 billion m2 money supply

So around 30 to 35 trillion dinars are in circulation

That most likely covers the phisical currency in Iraq and in our hands

http://www.cbi.iq/documents/key%20financial.xls

[dontlop]

As more and more electronic cards are used instead of phisical currency that deposit number will grow and the number of dinar outside of banks will shrink