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Adam Montana driveby/follow up Feb 28 2015


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My 24,000 dollar question is this...I can go buy dinar, I can go sell dinar, but how do I exchange dinar, just short of going to the CBI. I was talking to the "Currency Exchange" guy at the airport and he said he is currently exchanging IQD because of the interests in it. ...but would I simply go turn in my dinars for dollars and then go buy more dinars???? Just asking so don't be a hater.... :confused2:

That's a valid question I am curious myself.

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I Left 2 Stacks Of 50 IQD Notes On The Dashboard Of My Car While I Went Shopping At The Mall Today !     When I Came Back Out - Somebody Had Broken In And Left Me 3 More Stacks !            

·  Adam Montana Hey everyone! ·    Just doing a quick driveby like I mentioned in the weekly chat... sorry it's taken so long to get to, I was waiting for confirmation on a couple things I'm hearin

It seems like people are on one side or the other...   One side: Sweet! The CBI is testing procedures to swap out notes, probably getting ready for a BIGGER operation!   Other side: Oh no! I'm los

With all due respect to Adam, According to the CbI they have been reducing the note count. The last indication of where they are at was 4 billion notes back in October 2014. Their goal is to get 1 billion notes. I believe there is no way that we will be able to exchange our higher denominations for the newer ones unless we were in Iraq. As I understand it they will not be released outside of Iraq. When they recall our notes, it would be counter productive for Iraq to exchange them for the newer denoms. I do agree that the initial rate will be low and with a 45 to 60 day exchange window. It also appears to be a float from that point. The only ones that will benefit the most will be the governments as we were never intended to be part of this. I will be grateful for what I can receive on exchange.

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I Left 2 Stacks Of 50 IQD Notes On The Dashboard Of My Car While I Went Shopping At The Mall Today ! :blink:

 

 

When I Came Back Out - Somebody Had Broken In And Left Me 3 More Stacks ! :o

 

:D       :D     :D

 I hope I'll never have to say that  that act made sense.....

 

Santana & McLaughlin sing: " The Creator has a master plan...Peace & Happiness for every man"...

 

We'll see....

Edited by umbertino
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With all due respect to Adam, According to the CbI they have been reducing the note count. The last indication of where they are at was 4 billion notes back in October 2014. Their goal is to get 1 billion notes. I believe there is no way that we will be able to exchange our higher denominations for the newer ones unless we were in Iraq. As I understand it they will not be released outside of Iraq. When they recall our notes, it would be counter productive for Iraq to exchange them for the newer denoms. I do agree that the initial rate will be low and with a 45 to 60 day exchange window. It also appears to be a float from that point. The only ones that will benefit the most will be the governments as we were never intended to be part of this. I will be grateful for what I can receive on exchange.

 

I've posted information in other threads that refute the numbers you are quoting.  At the end of 2013, there was 34 Trillion Dinar outside of banks, which amounted to about 3.6 Billion Notes.  The CBI has not issued the 2014 Statistical Bulletin which gives a break down of the number of notes, but if you look at the Financial Indicators, the currency issued has only dropped by 1 Trillion Dinar, if we assume all of that 1 trillion was taken out of circulation, and used a ratio 33/34 x 3.6, that would come up to 3.4 Billion, no where near 1 billion notes...

 


 

My apologies, I just went back and re-read what you wrote, and your numbers for 4 Billion Notes in October of 2014 is likely.  I read the 1 billion portion as they had already reduced the note count to that number.  You are stating that is their "goal".  They are no where close to that number.  Again my apologies. 

Edited by Markinsa
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That is right. I didn't know the exact number of the note count. Last I saw was 4 billion (3.4 billion as you quoted). I said their goal was to get to 1 billion. I believe the last time they were at 1 billion notes they were in the 3+ range. Now I do not know how much dinar is represented in that note count. Since they have not indicated their current note count, (nor do I think they will) it is safe to assume that the process is continuing.

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It seems like people are on one side or the other...

 

One side: Sweet! The CBI is testing procedures to swap out notes, probably getting ready for a BIGGER operation!

 

Other side: Oh no! I'm losing all my 50 dinar notes and the sky is falling!

 

:lol:

 

In my opinion, this situation isn't bad. I have so few 50 dinar notes that I'm not even going to bother figuring out which dealer will take them... it's inconsequential to me.

 

I have very little fear that the CBI will do the same thing with larger notes. I just don't see it happening.

 

And when I'm telling my great grandkids about this situation, I might just hand them a 50 dinar note and say "don't spend it all in one place". :lol:

 

:twocents:

 

 

My 24,000 dollar question is this...I can go buy dinar, I can go sell dinar, but how do I exchange dinar, just short of going to the CBI. I was talking to the "Currency Exchange" guy at the airport and he said he is currently exchanging IQD because of the interests in it. ...but would I simply go turn in my dinars for dollars and then go buy more dinars????   Just asking so don't be a hater.... :confused2:

 

If we were talking about the Euro, this would not confuse anyone... because it's internationally traded and you simply go to the bank and exchange for dollars.

 

At this time, the IQD is not internationally traded. But when they RV, it WILL be as simple as going to a bank that is exchanging it and do so.

 

 

Here's the one thing I think people are forgetting right now. 5 years ago, you could go to Wells Fargo and buy Iraqi Dinar - you didn't need to go to a dealer.

 

The local banks we use have stopped dealing in IQD by choice, because they determined there was not enough profit in it.

 

Once the dinar RVs, there will be a LOT of profit for banks, and they will simply resume doing business with the IQD. It's that simple.

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Adam did you ever get any confirmation on the questions that you were looking for answers for? And if so can you enlighten us on the direction that you are seeing this go now that they are getting the 50's back?

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The more important thing to realize is this is very likely a test run on exchanging large quantities of notes.

  :twothumbs:

 

That's what my inner gut has been feeling since the announcement indeed, yep!!   Folks, get ready!!  :peace:

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Thank you Adam for the drive by much needed, I on the other hand bought into the lower denoms so I have a lot of the 50 s . Does anybody know of somebody who will buy them or trade them?

Thank you in advance.

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Adam; You mentioned" Might exchange for new notes and then ride..etc" If we have 25000 notes, what's to buy?

I stepped away for a few weeks from time to time and notice your question. I may have missed something. All my large notes are after 2011. Are there new notes for the 25,000 notes that were printed are going to be exchanged for ours?

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That is right. I didn't know the exact number of the note count. Last I saw was 4 billion (3.4 billion as you quoted). I said their goal was to get to 1 billion. I believe the last time they were at 1 billion notes they were in the 3+ range. Now I do not know how much dinar is represented in that note count. Since they have not indicated their current note count, (nor do I think they will) it is safe to assume that the process is continuing.

 

4 Billion is issued, 3.4 Billion is outside of banks.

 

-

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Repeat after me:

ZIP, ZERO, ZILCH!

You don't know that. Who side are you on anyways? You must own Dinar or you wouldn't be Platinum VIP. Oh well. I'm hoping for the best right to the bitter end. I was looking for helpful responses. Edited by Tripphood
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You don't know that. Who side are you on anyways? You must own Dinar or you wouldn't be Platinum VIP. Oh well. I'm hoping for the best right to the bitter end. I was looking for helpful responses.

 

I'm a bit confused by gakman's responses as well. Probably a message lost in translation. It happens a lot in the online world. :shrug:

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They haven't done anything but talk, so I'm not even going to waste a moment wondering how to respond. One thought. Wouldn't they need the smaller notes if they were actually going to RV any time soon? Not that they have come close to calling in the 50's yet.

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Great to see a second drive by Adam...I like the "sweet" option.

 

It is interesting that the currency exchange in the mall here in socal that I have used to purchase IQD at several times in the past has been dry for two days and told me on the phone a couple of hours ago that they hope to have more on Wednesday..."I should call Tuesday night and find out what they will have"....Probably just supply and demand due to the lack of auctions...Here's hoping

for more though  :angel: As Lady Graces dad says: SUDDENLY.....one of these days a suddenly will occur..until then we wait patiently ...well sort of  :tiphat:

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Please ANYBODY let us know any dealers who will buy the 50 dinar notes or exchanging them for other denoms.

It would be greatly appreciated!

Thanks for the info Adam :bravo:

The Machine knows as he sold his the minute he found out.
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There is a big difference from .01 to .30... Of course I hope we are closer to .30... .01 is still a good profit percentage for what was invested but would still feel like a kick in the teeth after all this time.

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