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New CBI announcement 02/25/2014


yota691
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Interesting possibilities. They have spoken lately against currency speculation...

 

There are a couple ways this can be played, it actually can accomplish much:

 

1) Test the "cash-in" period of 60 Days. Will the Banks (who should be prepared) be able to provide excellent customer service and get this done countrywide in 60 days.

2) Remove any obstacles in the system that does facilitate a smooth financial transaction, again prepping for the Big Dance.

3) Force money from under mattresses into banks for exchange. If they exchanged electronically this could jump start the QI/Visa/ Mastercard initiative.

4) They could take this period to test PR methods and Educational Modalities concerning "future" exchange processes.

5) They could make some monetary gains by those unwilling or unable to make the exchange deadline. Psychologically speaking, should another exchange be called, the Masses will respond as prescribed or loose big. Our loss is their gain...

6) LGD I hear you about the After Party Agenda. One of the many reasons why I am on the ISX is that my funds are already converted into IQD either in the market or in the Brokerage Account. Thus, I have already purchased my ticket for the Bid Dance whenever it is announced without "cash-in" time concerns.

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I really dont think we should get to bent out of shape on this one unless your entire Dinar fortune is in the 50 notes. These notes have not been used in a while and do not have the new security features on them And perhaps are easily counterfeited, so get them out of circulation. 2nd it perhaps might stop speculation in a RV because with this notice many will have the fear of god in them and MAY perhaps start to bail on this investment and that will recover even more Dinar and less the CBI must pay out after RV. Re initiating lower denominations which today are worth almost nothing says to me that something is up in the CBI, it just doesnt make sense to re issue these notes unless they will be worth more In the near future. Maybe Im way off folks, but the CBI is moving and moving fast to accomplish IMO, the step to bring them international in a free market. This perhaps will be a series of moves they will make in the next while that could be in our favor. We have to see how this plays out but I feel this is a good thing with the 50 notes.

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I saw nothing in this article about EXCHANGING the 50s.  Right now they are ENDING the 50s.  They are not replacing them at this time.  They may be getting ready for the RV by getting rid of the old notes that are too worthless right now to be missed, and will introduce the new lower denoms post RV when they will be needed.

 

This will save time and hassle post RV.  The banks will still have to make change for the big notes, but won't have to deal with folks queuing up to exchange their wheelbarrow loads of small notes.

 

Don't panic - its all good!

 

Peace and Prosperity

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It just makes no sense to me why they are reprinting a denomination that they clearly state at the end of the article is not even used due to the high price of products on the market. The only thing that this tells me is that their money will be worth enough that a 50 dinar note will be able to make purchases on the street and Iraq soon.

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There are a couple ways this can be played, it actually can accomplish much:

 

1) Test the "cash-in" period of 60 Days. Will the Banks (who should be prepared) be able to provide excellent customer service and get this done countrywide in 60 days.

2) Remove any obstacles in the system that does facilitate a smooth financial transaction, again prepping for the Big Dance.

3) Force money from under mattresses into banks for exchange. If they exchanged electronically this could jump start the QI/Visa/ Mastercard initiative.

4) They could take this period to test PR methods and Educational Modalities concerning "future" exchange processes.

5) They could make some monetary gains by those unwilling or unable to make the exchange deadline. Psychologically speaking, should another exchange be called, the Masses will respond as prescribed or loose big. Our loss is their gain...

6) LGD I hear you about the After Party Agenda. One of the many reasons why I am on the ISX is that my funds are already converted into IQD either in the market or in the Brokerage Account. Thus, I have already purchased my ticket for the Bid Dance whenever it is announced without "cash-in" time concerns.

I like your analysis Money, makes sense.

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 there are no dealers left operating in the UK ...... just as well I have loads of dinar in other denominations 

Since you are going to loos them anyway, don't some one in the DV coral know of a person in iraq you could send them to and let them keep half and send you 100's for the rest?  Just a thought.

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This article from 2012 shows a version of the new paramiters, Ide like to thank Thegatekeepers for keeping this article handy.

 

Parameters of the new Iraqi currency after deletion of zeros 19/06/2012

 

BAGHDAD / JD / .. Central bank decided to adopt some of the features and pictures to be developed on the new currency after deletion of zeros ..

And obtained by / JD / a copy of the book’s central bank, which included the historical and cultural landmarks and images to be placed on the implications of the currency close to the mentality of the Iraqi public and culture ..

According to the authors included a paper currency a number of monuments and pictures the most important, put a picture to bridge the imams and the magnitude of the significance of high-value if it reaches the bridge between both sides of the River Tigris and the terminal Mrakadi Imams Musa al-Kazim (AS) and Abu Hanifa (ra) ..

He said a book entitled the bank to the Directorate General for the issuance and cabinets: This is dedicated to the highest class of the new currency a category (200) two hundred dinars and the dinars on the back of this paper and put a picture of the Baghdad school ..

He said the central bank: put on the face of the category (100) dinars, hundred dinars, pictures of Azwaip area in Baghdad, one of the areas which was set up by the ancient suspension bridge, one of the achievements of the Iraqi state ..
Iraq is one of the leading countries in the establishment of this type of bridges, shown in the image building of the Iraqi Central Bank, in addition to the building of the University of Baghdad, is the oldest scientific institution in Iraq in the second half of the twentieth century, while placed on the back of the paper image (ziggurat), one of the features of construction Iraq at the dawn of history ..

According to the book’s central bank: put on the face of the paper of class (50) JD (fifty dinars) image of the King Codaa one of the most kings of the dynasty of Lagash II (King XII), a God of growth and fertility, while the back of the paper have included a picture of Fort Ukhaydir a Fort archaeological its construction dates back to the Abbasid era forts and defensive unique in a deserted area, such as those constructed in which this fort is located to the south-west of the city of Karbala ..

The central bank said: that in the face of the banknote (25) dinars (twenty five dinars) was developed, the image of King Hammurabi receiving the law .. This is the spiritual father of the King humanitarian legislation, as written in the custody of the rules governing the life and transactions in the famous Mselth either the back of the paper have included a picture of a peasant of Iraqi Kurdistan with the help of men in the preparation of the field of agriculture .. He said the central bank: put on the face of the banknote (10) dinars (ten dinars), a dinar, the Arab-Muslim This is a dinar, which was minted in the reign of the Umayyad dynasty beginning of the circulation of money in the Islamic state, which hit the inside and one features of the state and its sovereignty and economic independence, The back of the paper has developed a picture of the lighthouse Hadba in Mosul, one of the landmark development of excellence in our beloved Iraq ..

Either category (5) dinars (five dinars) was placed on the face of her paper image of a waterfall entirely on Beck in Kurdistan Iraq, a reference to the state’s interest in water and its sources in addition to the interest in tourism and the environment either the back of the paper has developed a picture of a palm Iraq, a sign of a property for each land black from southern Iraq to the north and to honor the (aunt Palm), said Mustafa (peace be upon him) and the central bank said in writing: in line with the best applications and international experiences, he decided to stop the basic parameters of the currency notes of the categories (25000,10000,5000) JD Traded to the road as it is in the new series (25,10,5) dinars to enable the audience with her as a thousand imprinted in his memory.

The bank was keen to choose the designs of the coins are the generality and comprehensiveness of significance, and have a positive impact on all the people of Iraq, where he put on the aspects of coins map of Iraq and highlights where the Tigris and the Euphrates, and the center of the map a circular area to install the coin mineral, while the other side of coins have included, first class (2) JD’s image (the Monastery of Saint Matthew), a historical site and my soul is located in the north of Iraq, and taken by the Iraqis of different sects and religions shrine to seek blessings and tourism. Included in category (1) BD image and reality are inspired from the displacement of Kurds Faili designed and prepared the Ministry of Culture.

Has been developed on the category (500) fils image to fill a modern on the River Euphrates, and was intended to highlight the importance of water and means of storage and organization in Iraq, and on the category (250) fils putting pictures to fill Kut on the Tigris River, for the same purpose, and put on a category (100 fils), a picture of a lion Babylon, symbol of the power and vigor of the nation of Iraq. and put on a class (50) fils a picture of the palm, the symbol of Mesopotamia. and class (25) fils put a picture of the Ishtar Gate in memory of great Iraqis.

 

It shows that they had plans for a new 50 class with a palm on one side and Mesopotamia. on the other, so if this is still the plan they will have replacement 50 dinars comming out when they are needed.

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Sounds like a good plan to reduce the note count to me. Also makes me think the end of April before any action on value change. It doesn't say they are issuing new fifty notes but allowing citizens in Iraq to deposit them for face value for two months then demonetizing them. Remember guys and gals, the plan to reduce the note count to one billion notes. A fifty note and a twenty five k note each represent one note. I'm thinking this is going in the right direction. Time will tell.

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Sounds like a good plan to reduce the note count to me. Also makes me think the end of April before any action on value change. It doesn't say they are issuing new fifty notes but allowing citizens in Iraq to deposit them for face value for two months then demonetizing them. Remember guys and gals, the plan to reduce the note count to one billion notes. A fifty note and a twenty five k note each represent one note. I'm thinking this is going in the right direction. Time will tell.

 

If Mark is correct we have a long way to go to get to a 1 Billion note count

 

At the end of 2013, there was 9 Billion 50 Dinar notes Issued.  Only 800 Million was on deposit at 3 Banks.  It could be to bring those notes back in for deposit, or allow them to be written off.

 

-

 
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This is a way to encourage opening bank accounts for citizens in Iraq.  It has been in print many times that upwards of 80% of the population in Iraq do not have bank accounts. This is an exercise that costs very little for a citizens to open an account and builds trust in the banks. It also achieves the CBI's goals of removing the old and circulating the new and improved notes ....IMO

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This may be a way for them to test the proficiency of the banks at taking in currency, crediting accounts, or exchanging for other notes.  I thought I saw a news item not long ago regarding training the banks for taking in notes and authenticating it?  The 50 would be a low-stress test given that they are not used much and have such small current value.

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Let me clarify, that is 9.191 billion dinar of 50 Dinar notes. The actual note count should be 9.191 billion/50.

 

So it is just under 200 million notes - 183.82 million notes with a denomination of 50 dinars

 

Take those notes out of circulation and you are on your way to reducing the total bank notes to 1 billion.

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I do not think that the CBI will exchange all the notes in country and there by shut out the billions and maybe even trillions that are held world wide. Their credibility in international circles would be permanently damaged.   End of economic recovery for Iraq.

 

I don't believe the CBI and Iraq government would do this in some plan with other governments either.  No matter how much any other government wants to shut out the average citizen on the street and stop them from having a real shot at prosperity.  The present Iraqi government doesn't strike me as being like that.

 

The backlash would be extreme to say the least.

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It is noteworthy that the Iraqi Central Bank issued after 2003 and banknotes from the category of 50 dinars, but he is not traded due to the high prices of the products offered in the market.

 

 


Sounds like great news to me (unless you are The Machine or someone in a similar situation) that currency is actually being taken in and exchange with a defined window. Seems to be a fine way to test the process and fine tune it before the big event. 50's haven't been used much for quite a while, and other than pumpers and dealers promoting their eventual value and charging a premium for them they were of minimal consequence. no doubt much will be made out of all of this, and perhaps in a very short while someone will have found a way to get these notes redeemed or exchanged without losing out completely on the notes value.

I believe your right on the Money there my friend !

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