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BondLady Admin Shredd - This Is The CBI Basically Saying The Dinar Will Be Strong And Soon !


DinarThug
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CNN. Broadcasting While Riding My Clown Tricycle With 50 Dinar Notes In The Spokes !

 

 

 

 

BLC Admins Chat 50 Dinar Note Replacement 02/26/2015   Part 1

Central Bank Announces Withdrawal Of 50 Dinars A Class Of Trading

26/02/2015    Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars currency from circulation category, pointing out that the replacement will continue for two months.

The bank said in a statement received by "direction Press", a copy of it, he was "given to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote trading based authorized to article 36 of the powers of the Bank Act No. 56 of 2004".

The bank added that "the banks and their branches will start replacing these banknotes presented to it and without fee or commission," noting that "banks will be deposited at the bank and its branches for the purpose of being the equivalent value in the accounts we have."
~~~
 
He noted the bank that "the term that will replace these banknotes will begin on the first of March to 30 of April next," stressing that "the end of the period of replacement will be banknote void and have no discharge power will not be accepted in Iraq."

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. sa

http://www.cbi.iq/documents/press%20for%2025-2-2015.pdf

[tlm724] Thank you Rocky for posting this for us !

[therealbubbie] The bank added that "the banks and their branches will start replacing these banknotes presented to it and without fee or commission,"

[therealbubbie] imo their coming out with the new notes !!

[tlm724] therealbubbie I have emailed Shredd and while we are waiting on Shredd lets go over this please

[tlm724] everyone be patient while we get our heads around this, there is a very important line in this article   
                     

[tlm724] "the end of the period of replacement will be banknote void and have no discharge power will not be accepted in Iraq

[therealbubbie] tlm724 ummmmm !!

[tlm724] this is saying that once the 2 month period is over the old 50's will no longer be valid, now don't freak out , lets think about a few things first   

[dogznova] so the 50 dinar note is worth approx .004 cents.. How many people actually use the 50 note in Iraq ?

[tlm724] dogznova that is what I said to BL the 50's have such nominal value what would be the purpose of replacing them ?

[tlm724] let me type out loud for a moment   

[RCS1947] test run?

[tlm724] lets imagine for one moment that the CBI is on the threshold of releasing the lower denoms and the new 50 notes they are issueing are going to be the highest valued note in Iraq ?

[tlm724] are you with me so far ?

[therealbubbie] yes !

[dogznova] I was hoping the 500 note would be the highest note in Iraq

[tlm724] okay so the new 50 is the most valued note and then they may issue notes similar to ours, say a 20,10,5, 1 and the fil coins

[tlm724] dogznova maybe the 500 has one too many zero's on it ? just typing out loud because I don't know

[dogznova] 50 seems too low for the largest note in circulation..

[therealbubbie] dogznova agreed !

[tlm724] is it, we have 100's but how many times do we use them ?

[dogznova] unless each dinar is worth 10 us dollars  lol      

[tlm724] well lets for arguments sake say it's par with the dollar

[dogznova] tlm724 the 100 note gets used in the US quite a bit..

[tlm724] ok I can accept that only I don't use many   

[dogznova] I agree it's not as much as the 20.. but it gets used

[tlm724] RCS1947 I like the test run comment you made

[tlm724] it is the lowest note on the market right now

[dogznova] I own some of the 50 dinar notes as do some of you ... It seems the 50 dinar is missing the securety features the larger notes have.. maybe thats why they are replacing them

[dogznova] the test run comment..  I like that idea as well   

[tlm724] dogznova great point !

[RSP1] they do like their test runs!

[tlm724] so replacing the lowest note hmmm still seems like there is something missing here.

[dogznova] So it looks like the value is going to increase.. Because why else would they be caring about a 50 dinar note.. I say maybe the 50 dinar note is missing the securety features ?

[dogznova] let all get our 50 notes out and look at them through the light.. look and see if you can find any securety features

[tlm724] dogznova I have one close by brb
 
[dogznova] cool beans

[tlm724] k got it

[dogznova] I could be wrong.. there could be security features on the 50 note

[tlm724] it has a security strip in it

[dogznova] k anything else?

[tlm724] has a horses head incognito

[dogznova] ok..  Thank you

[tlm724] those are the only 2 that are apparent in the light but there could be more

[dogznova] now that art makes zero sense to me why would they be discontinuing them?

[tlm724] dogznova you may still be right though, remember they wanted 10 security features on every note, these new notes will probably have them

[dogznova] MAYBE..

[tlm724] yes maybe

2/26/2015

 

 
BLC Admins Chat 50 Dinar Note Replacement 02/26/2015   Part 1

Central Bank Announces Withdrawal Of 50 Dinars A Class Of Trading

26/02/2015    Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars currency from circulation category, pointing out that the replacement will continue for two months.

The bank said in a statement received by "direction Press", a copy of it, he was "given to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote trading based authorized to article 36 of the powers of the Bank Act No. 56 of 2004".

The bank added that "the banks and their branches will start replacing these banknotes presented to it and without fee or commission," noting that "banks will be deposited at the bank and its branches for the purpose of being the equivalent value in the accounts we have."
~~~
 
He noted the bank that "the term that will replace these banknotes will begin on the first of March to 30 of April next," stressing that "the end of the period of replacement will be banknote void and have no discharge power will not be accepted in Iraq."

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. sa

http://www.cbi.iq/documents/press%20for%2025-2-2015.pdf

[tlm724] Thank you Rocky for posting this for us !

[therealbubbie] The bank added that "the banks and their branches will start replacing these banknotes presented to it and without fee or commission,"

[therealbubbie] imo their coming out with the new notes !!

[tlm724] therealbubbie I have emailed Shredd and while we are waiting on Shredd lets go over this please

[tlm724] everyone be patient while we get our heads around this, there is a very important line in this article   
                     

[tlm724] "the end of the period of replacement will be banknote void and have no discharge power will not be accepted in Iraq

[therealbubbie] tlm724 ummmmm !!

[tlm724] this is saying that once the 2 month period is over the old 50's will no longer be valid, now don't freak out , lets think about a few things first   

[dogznova] so the 50 dinar note is worth approx .004 cents.. How many people actually use the 50 note in Iraq ?

[tlm724] dogznova that is what I said to BL the 50's have such nominal value what would be the purpose of replacing them ?

[tlm724] let me type out loud for a moment   

[RCS1947] test run?

[tlm724] lets imagine for one moment that the CBI is on the threshold of releasing the lower denoms and the new 50 notes they are issueing are going to be the highest valued note in Iraq ?

[tlm724] are you with me so far ?

[therealbubbie] yes !

[dogznova] I was hoping the 500 note would be the highest note in Iraq

[tlm724] okay so the new 50 is the most valued note and then they may issue notes similar to ours, say a 20,10,5, 1 and the fil coins

[tlm724] dogznova maybe the 500 has one too many zero's on it ? just typing out loud because I don't know

[dogznova] 50 seems too low for the largest note in circulation..

[therealbubbie] dogznova agreed !

[tlm724] is it, we have 100's but how many times do we use them ?

[dogznova] unless each dinar is worth 10 us dollars  lol      

[tlm724] well lets for arguments sake say it's par with the dollar

[dogznova] tlm724 the 100 note gets used in the US quite a bit..

[tlm724] ok I can accept that only I don't use many   

[dogznova] I agree it's not as much as the 20.. but it gets used

[tlm724] RCS1947 I like the test run comment you made

[tlm724] it is the lowest note on the market right now

[dogznova] I own some of the 50 dinar notes as do some of you ... It seems the 50 dinar is missing the securety features the larger notes have.. maybe thats why they are replacing them

[dogznova] the test run comment..  I like that idea as well   

[tlm724] dogznova great point !

[RSP1] they do like their test runs!

[tlm724] so replacing the lowest note hmmm still seems like there is something missing here.

[dogznova] So it looks like the value is going to increase.. Because why else would they be caring about a 50 dinar note.. I say maybe the 50 dinar note is missing the securety features ?

[dogznova] let all get our 50 notes out and look at them through the light.. look and see if you can find any securety features

[tlm724] dogznova I have one close by brb
 
[dogznova] cool beans

[tlm724] k got it

[dogznova] I could be wrong.. there could be security features on the 50 note

[tlm724] it has a security strip in it

[dogznova] k anything else?

[tlm724] has a horses head incognito

[dogznova] ok..  Thank you

[tlm724] those are the only 2 that are apparent in the light but there could be more

[dogznova] now that art makes zero sense to me why would they be discontinuing them?

[tlm724] dogznova you may still be right though, remember they wanted 10 security features on every note, these new notes will probably have them

[dogznova] MAYBE..

[tlm724] yes maybe
 
dogznova] can't see more then 1% of the notes in the market being the 50 dinar note.. 

[tlm724] are they starting with the easiest notes dogznova ?

[dogznova] well it's definatly the least amount of note in the market

[RCS1947] the article says replacing and that's what we been waiting for so long... I like it , it's a start.

[dogznova] see replacing them is one thing.. But canceling the current ones is another... The question is ... Why?

[tlm724] RCS1947 great point !

[tlm724] dogznova yes that is an unknown right now but  there is a 2 month window for the old to be turned in !

[tlm724] I think back to last few years when the CBI said that when they delete the zero's the notes we hold will run concurrently for 2 years, the 50, 250 and 500 notes are "not" 3 zero notes !

[dogznova] ya.. Cool beans

[RCS1947] it gets the people to the bank....maybe open accounts and if the future is electronically the notes won't matter. 

[dogznova] tlm724 yep.. hopefully the banks will start taking dinar by then.. other wise we have to turn them in to a dealer.. this goes against .. The note will run side by side

[therealbubbie] dogznova who would the dealer turn them into ? 

[dogznova] excatly

[tlm724] this could be a good thing, we will have to let it play out, the CBI seems to have a pattern of announcements, 1 day before they start making their moves they put the word out !

[dogznova] k

[shredd] howdy. just got out of back-to-back meetings. reading emails/news........... dogznova I tend to agree with you regarding the above, the 50 denom is going to be a useful denom note and this one does not have security features

[shredd] also, what are the denoms of the fils? the coins will satisfy the small denoms once the rate is strong so I was happy to see the word "REPLACE"

[dogznova] right.. but it says they are gonna replace it.. not remove it

[shredd] if they were simply removing it, I'd be scared

[shredd] amen.. like minds..........

[shredd] so imo, this is good but I too hold some so oh well

[dogznova] yeah.. but the part that scares me is.. the old will no longer be used

[shredd] that was my plan B   

[JohnnyZ] I like replace the rate   

[shredd] yeah, me too dog.....I hope they don't use the same 60 day window for removing the 000 notes

[shredd] we have old articles saying they will coexist but so much is new now

[dogznova] well at least your honest

[dogznova] I hope this is just a scare tactic from the CBI   
 
BLC Admins Chat 50 Dinar Note Replacement 02/26/2015   Part 2

 [shredd] if the CBI keeps with a managed float, removes notes one at a time, gives 60 days and then after manually increases the rate, it would suck

[dogznova] if they start doing this to all notes... look out

[shredd] but the good news is we should be able to strike that scenario off after the 50 is "replaced"

[dogznova] right

[shredd] yeah, but I don't think we are since the note is the 50

[dogznova] I hope the banks start trading IQD before the end of April

[shredd] if this announcement was regarding a 000 note, I'd be concerned
~~~
 
[dogznova] me too, why the 50 though

[shredd] so my prior thoughts is where my vote sits...........replacing a denom that will have use

[dogznova] it's the used note

[shredd] right it has a future and they know it like timmy was saying..........

[dogznova] right.. I like that thought for sure

[shredd] they have the fils minted the small denoms, done

[tlm724] 50's are NOT 3 zero notes   

[shredd] they need usable medium notes like we have the 100 dollar bill, we use it

[shredd] tlm724 right

  [dogznova] just wondering if the 250 note is next

[shredd] so, again, the word "replace" is the saving hope here

[JohnnyZ] right fils and electronic funds ...... hold up longer and safer

[shredd] right, I have another thought as this sinks in, remember when the large notes were re-released with the new security features ?

[therealbubbie] Shredd spill it son !

[shredd] the scope of this was for just that, security

[JohnnyZ] agree Shredders

[therealbubbie] Shredd yes !

[shredd] and if you remember, I said we had nothing to worry about unless they decided to circulate those which would have meant a long wait for us but that is not the case now

[tlm724] Shredd as I said earlier the CBI said that when they delete the zero's the notes we hold will run concurrently for 2 years, the 50, 250and 500 notes are "not" 3 zero notes !

[shredd] right timmy, these "medium" sized notes have a purpose

[JohnnyZ] yes in the market

[therealbubbie] Shredd in a nut shell can i order that 911 porsche son !!    

[shredd] and the 50 IMO is the logical place for the cbi to get ready for a strong rate

[JohnnyZ] yes

[shredd] and I remember us saying that process only takes a few months and here we see it........... REPLACE the 50 so, if they replace it with a new note with added security features, which is a big DUH to me then we KNOW it has a purpose

[tlm724] exactly ! 

[shredd] not at the current rate though, we have fils for that, this is telling us that the 50 has a future and quite possible a very near future of being circulated

[tlm724] less than a penny isn't gonna go far Shredd you would around 750 notes to buy a loaf of bread... just sayin

[therealbubbie] REPLACE the 50 because it has no vaule .. correct !

[shredd] amen sista timmy and what's cool is the CBI is not making this a secret

[tlm724] thats right 1 day notices   

[shredd] anyone can put 2 and 2 together and see that the CBI is telling all people, their people that the dinar WILL return to Iraq

[therealbubbie] 2 plus 2 = a porsche 911 cab turbo !! lol          

[shredd] and especially at a time like this when the people are screaming that they can't get USD

[JohnnyZ] seeing how the dollar is going going gone   

[shredd] this is the CBI basically saying the dinar will be strong and soon

[dogznova] I agree

[shredd] and by the way, turn them in everyone and we'll give you the balance in your account at your bank

[JohnnyZ] electronic baby !  

[shredd] so, again, they are not REMOVING the 50 because that would be bad, they are REPLACING it

[shredd] right JZ

[shredd]  lol  therealbubbie

[dogznova] but discontinuing the old.. That's bad.. No?

[JohnnyZ] dogznova *slap* Replacing lol

[dogznova] sure.. but old will be no good

[tlm724] its good for 2 months !

[dogznova] after April 30th   

[shredd] dogznova right, that is the part we need to watch

[dogznova] like a hawk  

[shredd] but remember, this process with the 50 is not part of the PROJECT TO REMOVE THE ZEROS
   
[shredd] so long as the CBI allows the new and old 000 notes to coexist, we are golden and by the way the CBI just upgraded them last year so that's proof that we are ok

[dogznova] right.. but I haven't seen any of them.. but we know the exist

[shredd] if the 000 notes were still not updated with new security features like the 50, I'd be worried but they were updated

[shredd] right, they exist in the currency book of legal tender which is huge

[dogznova] right.. thats a good thing for sure

[shredd] and was huge to me last year when the announcement came out, it sealed the deal for me that the notes would really coexist

[dogznova] man I hope your right

[shredd] look at it this way... the purpose of the 000 notes and the purpose of the 50 are massively different as Iraq moves from the USD to the IQD

[therealbubbie]  *hallelujah*
[dogznova] explain that a bit for me if you don't mind

[shredd] the 50 is a bridge denomination no matter how the dinar grows in strength, it will be usable on the streets indefinitely, it has a purpose and apparently a "soon" purpose

[dogznova] right

[shredd] for the 000 notes, they have been the usable notes since saddam was overthrown circulated and held in reserve by many countries

[tlm724] Shredd therealbubbie and I were just discussing that on the phone ! the dinar is held in reserve by many countries, prominent powerful countries !

[shredd] furthermore, they updated the notes to counter terrorist funding and had new security features added

[Mikey] by the ton    

[tlm724] Mikey right  

[dogznova] it's funny how the 50 note was/is not used much currently.. But the announcement showes it will be used soon.. I mean at .04 cents.. who uses them   

[therealbubbie] Shredd will they say turn in the 000's in 2 months without changing the rate !? not can they but will they? 

[shredd] dogznova you got that right

[shredd] therealbubbie I can't promise anything. The best we have is a few old articles that tell us the notes will coexist.

[therealbubbie] Shredd and timmy ty !  

[tlm724] This could be very interesting in a very short amount of time ! I'm excited to see what the next few days may show us ! Thank you all , we have a great leader, great team and great chat !

Shredd:     Thanks timmy. As an added note....what is happening now to the 50 dinar note already happened to the large 000 notes last year and the CBI didn't discontinue the older versions which are the ones we hold. 

So, unless their plan has drastically changed since then, I think we can safely hope the cbi won't discontinue them before we decide to exchange them. That said, like it's always been, we just need to wait this out.

Additionally, if the cbi's plan had changed, why wouldn't they do it now along with the 50 dinar note (announcing the "old" versions of the newly upgraded dinar shall be discontinued after 60 days)?

I look at this move as something the CBI was going to eventually do anyways but I was thinking they would have done it much further down the road once a strong dinar value demanded usage of the 50 dinar note. 

Seeing they are making this move now, before any exchange rate change has occurred, makes me think the 50 dinar note will have a purpose much sooner than we thought.

Geofitness:   Shredd, when discussing the new notes vs old 000, I've had the 25K's and 10K's for seven years.  Am I out of luck? Or do I have the new notes? I see all of this discussion about new security features but my notes are about seven yrs old.

Shredd:    Last year, the CBI released new, upgraded 000 notes with added security features. They DID NOT announce that the "old" versions were worthless after a specified period of time.
Edited by DinarThug
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If one goes to the CBI website, you notice that they have both a 25 & 100 dinar COIN that is not currently in circulation. A question to meditate on is, "Why is this?"Could they be minted and in reserve so that when the RV happens they will be ready to alter/pull off the street certain denominations like the 50 dinar note? Om.....

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I will get excited if they decide to call in the 100 Dinar note too, why? you may ask...because just perhaps they are getting ready to release the small denominations and plan on issuing 1, 5, 10, 20, 50 (new) and 100 (new) that all match in security features and perhaps artwork of the bill too...kind of mirroring what the US has in circulation...to be on par, etc in value to begin with (.86 to 1.16 or whatever)...just a guestimation...no idea really other than it is an interesting development...

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I will get excited if they decide to call in the 100 Dinar note too, why? you may ask...because just perhaps they are getting ready to release the small denominations and plan on issuing 1, 5, 10, 20, 50 (new) and 100 (new) that all match in security features and perhaps artwork of the bill too...kind of mirroring what the US has in circulation...to be on par, etc in value to begin with (.86 to 1.16 or whatever)...just a guestimation...no idea really other than it is an interesting development...

There is no 100 dinar note. Edited by bsims25
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This is terrible news why anyone thinks it good i have no idea.

 

If its possible to do this with the 50 notes then there is no reason at all that they will NOT do the same with all the others too.....i think we call it in house exchange...in other words if your not in Iraq to change up your notes in the given time period all that paper you have in your safes aint worth nothing

 

This is BS

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mmmmm   would  be  very nice if they  brought in the 50 note , and  gave them  a refund  or  transfer  of  say  50  dollars worth  ,  a 1 too 1  swap !   shoot  even  trade a 50 in  get  10 dollars  and  a toaster over  !   :peace:

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