50 Note Not Canceled

[Deb45]

Ok I'm soooooo confused.  Are you saying that the articles we were reading last week weren't official and that they haven't canceled the 50's? or are you saying that the article that someone posted today saying they they have reversed the decision on the 50' and are now using them again????

 

 

 

This borders insane!

Edited March 9, 2015 by Deb45

[dinarbeleiver]

me too, I sold all my 50's on fleabay and then bought 4 times as many in 25K notes

 

+1

I could not believe how many people in the UK were after the 50s machine. Either they don't keep up with the news or they wanted to hold demonetised money

[TrinityeXchange]

Deb, I'm saying the news that came out doesn't appear to be official.

[The Machine]

I could not believe how many people in the UK were after the 50s machine. Either they don't keep up with the news or they wanted to hold demonetised money

 

yeah it was scary, I sold mine in 5 lots and the same person bought all of them within a day of posting

[dinarbeleiver]

If Breitling was trying to make money he wouldn't have notified anyone about this.

Why is there no official notice posted anywhere? Just a press release?? Really??

I know that breitling ( who I respect) is friends with roger of dinar d website and they are connected to treasury vault. I have a feeling that breitling may know more than meets the eye. I also noticed when I sold my dinars on eBay people were after them like mad. I hope breitling gives us more clarification. I sold all my 50s it just made my dinar count go up with higher denoms but I sure did make some space for my holdings

yeah it was scary, I sold mine in 5 lots and the same person bought all of them within a day of posting

I won't be buying small denoms again. By the way machine I have the new currency with the extra security features. The 10,000 notes and 25,000 notes are hybrid a mixture of paper and plastic

[limopeter]

If Dinar inc are saying they will be obsolete by April then it must be True. After all they are a main currency world dealer.

[Deb45]

Deb, I'm saying the news that came out doesn't appear to be official.

Which news?  the one the other day about the 50's being unusable after April 30th or the the one that was posted today?

[The Machine]

I won't be buying small denoms again. By the way machine I have the new currency with the extra security features. The 10,000 notes and 25,000 notes are hybrid a mixture of paper and plastic

 

Nice one, I havent managed to get my hands on any of them yet

[amal]

I believe its the goi that determines what is or isnt legal tender, there were multiple press releases saying it will be canceled after April 30th.  I havnt followed any of the logic that says because they are canceling the 50 it must mean a float is planned.  I dont see it that way at all.  Breitlings original theory that spurred on 50 sales that somehow lower notes might not be affected by a lop is up there with okie saying the rv was delayed because the antenae on the cbi was broken.  He created the market for them in the first place with this theory which coincidentally made more money for the dealers who sold them as their margins were much better on these notes.

[TrinityeXchange]

Completely disagree. Breitling can't effect global sales of low denoms. They cost more probably due to weight and handling.

[amal]

I respect your opinion.  Its just the way I remember it.  I dont remember anyone talking about wanting to buy the lower notes until Breitling talked about this theory and then it was all over dinarland for a while.  Yes the weight and shipping drives up the cost but there is still a lot more profit left on the bone for the dealer from what Ive heard.  I could be wrong.  

[Laid Back]

I see this as a misinformation campaign coming from Iraq to comfuse all curency investors like us.!

 

NOTHING on the CBI site.!!!

 

Thanks for sahring TX

 

Go dinar

Go Strong $1+

[TrinityeXchange]

Which news?  the one the other day about the 50's being unusable after April 30th or the the one that was posted today?

the one from the other day about the 50's being unusable.  apparently there has never been an official posting from the CBI regarding this.  the best we have is a "press release" in a memorandum format with no signature involved....no one is liable or on the hook for the publication.  completely unofficial.  

 

I respect your opinion.  Its just the way I remember it.  I dont remember anyone talking about wanting to buy the lower notes until Breitling talked about this theory and then it was all over dinarland for a while.  Yes the weight and shipping drives up the cost but there is still a lot more profit left on the bone for the dealer from what Ive heard.  I could be wrong.  

my concern is the slander of one's name.  it is easy to do but not easy to retract.  its easy to damage someone's name but difficult to restore a person's integrity if the information put out about them is inaccurate.  if breitling's personal strategy of buying lower denoms to help him hedge his bets and cover his personal risk sounded like a good plan and was adopted by others, please show how it was intentionally done by him to drive up the sales of low denoms for his trader buddies.  in all actuality breitling's strategy makes sense from an investment standpoint....it is simple hedging, nothing more.  i considered it when i was buying dinar but opted against it.  i hedged by investing in the isx along with holding physical dinar.  some might pitch me as colluding with isx brokers to win them business.  if they were to do that, there is no way i could defend myself or my integrity.  slander is almost final.  

[eburt]

Hmm this is strange - But if we are going by the CBI website then we are in for a LONGGGGG wait because the CBI never keeps that website up to date....Just my

[TrinityeXchange]

I see this as a misinformation campaign coming from Iraq to comfuse all curency investors like us.!

 

NOTHING on the CBI site.!!!

 

Thanks for sahring TX

it's frustrating LB because people paid a premium for those lower denoms.  now what if the "press release" is accurate, then come end of April the 50's are worthless.  what if the "press release" is inaccurate, then come end of April the 50's are viable.  what the heck does a speculator holding 50's do??  trying to determine what is truth and lie from media in iraq can be frustrating especially when you are doing it from across the pacific ocean.  sheesh.  so people are stuck between a rock and hard place.  what to believe???

[amal]

the one from the other day about the 50's being unusable.  apparently there has never been an official posting from the CBI regarding this.  the best we have is a "press release" in a memorandum format with no signature involved....no one is liable or on the hook for the publication.  completely unofficial.  

 

my concern is the slander of one's name.  it is easy to do but not easy to retract.  its easy to damage someone's name but difficult to restore a person's integrity if the information put out about them is inaccurate.  if breitling's personal strategy of buying lower denoms to help him hedge his bets and cover his personal risk sounded like a good plan and was adopted by others, please show how it was intentionally done by him to drive up the sales of low denoms for his trader buddies.  in all actuality breitling's strategy makes sense from an investment standpoint....it is simple hedging, nothing more.  i considered it when i was buying dinar but opted against it.  i hedged by investing in the isx along with holding physical dinar.  some might pitch me as colluding with isx brokers to win them business.  if they were to do that, there is no way i could defend myself or my integrity.  slander is almost final.  

  All Im saying is the theory that certain denominations would be treated differently sounded so outlandish to me it made it suspect to me.  Maybe his intentions were good.  All our dinar is of the iso code 368.  I dont need to go through what a redenomination or lop is but if they move the decimal place three places it would go for all the notes.  That seems obvious to me, I cant wrap my head around that type of hedge.

[TrinityeXchange]

this is what an official notice should look like 

  All Im saying is the theory that certain denominations would be treated differently sounded so outlandish to me it made it suspect to me.  Maybe his intentions were good.  All our dinar is of the iso code 368.  I dont need to go through what a redenomination or lop is but if they move the decimal place three places it would go for all the notes.  That seems obvious to me, I cant wrap my head around that type of hedge.

you hedge for no other purpose than "it is Iraq" one of the top corrupted governments on the planet.  

[rulesforrebels]

Article 36 Redemption of currency

 

1. The CBI may decide to redeem banknotes or coins by issuing, free of charge, other banknotes or coins in equivalent amounts. A decision to redeem banknotes or coins shall be issued in the form of a regulation of the CBI specifying the period during which the exchange shall take place and the locations and times at which withdrawn banknotes or coins shall be presented for redemption.

 

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This is easy enough if your an Iraqi Citizen or live in Iraq, however for majority of us living here in the states its not quite that easy. We could easily have been charged fees for trading out notes but fortunately a few sellers have offered programs for us to do this free of charge.

 

Like Limopeter said however I am still not 100% sold this is official. I see DinarInc and some other sites claiming to have had an interpreter read documents but honestly unless we speak arabic we don't know if what we are being told is true. I questoin not only is this really happening but will the 50 notes really be worthless or will they stop printing but still honor them in which case we are swapping out for no reason.

Deb, I'm saying the news that came out doesn't appear to be official.

I'm still not sure whether this is true or not but here is an article done by the global reset blog guy who seems to be against Dinar dealers so I would say unbiased third party...

 

http://www.keyc.com/story/28249986/central-bank-of-iraq-to-remove-50-dinar-banknotes-from-circulation-on-april-30-2015

 

Here's reportedly the translation from Dinarinc...

https://www.dinarinc.com/cbiletter

 

I would be hesitant to read something comming directly from a dealer, however it seems to be backed up by some other sources.

 

I was very skeptical at first but am pretty much believing it at this point.

Hmm this is strange - But if we are going by the CBI website then we are in for a LONGGGGG wait because the CBI never keeps that website up to date....Just my

If anyone knows an arabic speaker it could be helpful. The English version oft he CBI site is always out of date in my experience. I don't believe they have anything posted about the new 5,000 10,000 or 25,000 notes yet they are clearly out. They don't show the coins yet they are clearly out. The arabic version of the CBI site seems to be more up to date, I can't read arabic and don't really trust the google translate type trnaslaters but if anyone knows how to read arabic that may shed some more light on this situation.

it's frustrating LB because people paid a premium for those lower denoms.  now what if the "press release" is accurate, then come end of April the 50's are worthless.  what if the "press release" is inaccurate, then come end of April the 50's are viable.  what the heck does a speculator holding 50's do??  trying to determine what is truth and lie from media in iraq can be frustrating especially when you are doing it from across the pacific ocean.  sheesh.  so people are stuck between a rock and hard place.  what to believe???

This was my biggest concern. First off I'm not completely sold this is accurate but starting to believe 50's are going away. Even if this is true my second question is will old 50 notes retain their value and are still official or are they wiped out?

Canada did away with the penny in 2014 and won't be printing anymore but you can still spend them indefinately, could Iraq be the same?

 

As for people losing value on the old 50 notes, that's investing, some people rolled the dice paying more thinking the very same thing that happenned to their 50s could happen to 25,000's. They guessed wrong and they are going to lose out a bit in hte sense they didnt have to pay that premium and could have just bought 25,000 notes. On the bright side however Dinarinc is buying them so though they are losing the premium paid for small notes at least they do have the ability to swap out for biger stuf which in the end will be worth the same as what they would have had in 50s anyway

[TrinityeXchange]

 I can't read arabic and don't really trust the google translate type trnaslaters but if anyone knows how to read arabic that may shed some more light on this situation.

my friend please start reading from the beginning.  i have a friend who speaks arabic and interpreted the "memorandum" posted on the cbi's website.  there is nothing official about the memorandum.  there is neither seal nor signature.  

[rulesforrebels]

this is what an official notice should look like 

you hedge for no other purpose than "it is Iraq" one of the top corrupted governments on the planet.  

I never undstood the allure of buying small Dinar for 6 or 7 times the price of larger notes. I never believed larger notes would be taken out. The only other reason aside from believing that rumor that I can think of why someone would want smaller notes is hypothetically if rate came out at something crazy , if you swap out a 10,000 note the bank will report the transaction to the IRS where as someone with smaller amounts could potentially cash out a little here and a little there and evade reporting requirements. I've even heard some outright say this is why on forums. I get paying taxes sucks and we may have our own moral or ethical objections to givng money to this corrupt government of ours, however if you have that much cash is it worth going to prison for tax evasion over a couple bucks when your rich beyond your wildest dreams either way? Thats why Ithink its stupid to do this and even stupider to publicly admit this is your plan as many have done lol.

[Markinsa]

This is easy enough if your an Iraqi Citizen or live in Iraq, however for majority of us living here in the states its not quite that easy. We could easily have been charged fees for trading out notes but fortunately a few sellers have offered programs for us to do this free of charge.

 

Like Limopeter said however I am still not 100% sold this is official. I see DinarInc and some other sites claiming to have had an interpreter read documents but honestly unless we speak arabic we don't know if what we are being told is true. I questoin not only is this really happening but will the 50 notes really be worthless or will they stop printing but still honor them in which case we are swapping out for no reason.

 

 

 

Article 36 Redemption of currency

 

1. The CBI may decide to redeem banknotes or coins by issuing, free of charge, other banknotes or coins in equivalent amounts. A decision to redeem banknotes or coins shall be issued in the form of a regulation of the CBI specifying the period during which the exchange shall take place and the locations and times at which withdrawn banknotes or coins shall be presented for redemption.

 

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I guess my question is, where is the "regulation" the CBI or GOI passed???

 

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[The Machine]

the way I see it, if the article is real or not it gave me the push I needed to get rid of them (thankfully for the same price I paid for them) and in the process I managed to buy more dinar.

 

So for me I dont really care if the article is real or a fake ..... I dont have any 50's anymore but I do have more dinar.

 

I've been contemplating buying a few million more these past few weeks, I havent bought any dinar in about 5 years apart from the 25K notes I just bought from the exchange of my 50's ....... hmmmm to buy more or not.

[rulesforrebels]

my friend please start reading from the beginning.  i have a friend who speaks arabic and interpreted the "memorandum" posted on the cbi's website.  there is nothing official about the memorandum.  there is neither seal nor signature.  

Thanks for sharing. That said we hear so much about others friends and contacts, no offense but I take everything with a grain of salt. The global reset guy claims to have some tranlsater working for him who has worked for CNN and he backs it up. He is also someone who seems to not like Dinar Dealers or their practices so it would surprise me if he were in on some grand conspiracy for Dinar dealers to take back 50's at dirt cheap prices thorugh some scheme. I'm not saying he's the be all and end all of info, he could easily be misinformed himself but if anything funny were going on I would think we would see him doing some investigative report shooting holes in this rumor and he seems to be backing it up.

the way I see it, if the article is real or not it gave me the push I needed to get rid of them (thankfully for the same price I paid for them) and in the process I managed to buy more dinar.

 

So for me I dont really care if the article is real or a fake ..... I dont have any 50's anymore but I do have more dinar.

 

I've been contemplating buying a few million more these past few weeks, I havent bought any dinar in about 5 years apart from the 25K notes I just bought from the exchange of my 50's ....... hmmmm to buy more or not.

Good point either way you came out ahead. In my mind I'd rather have more dinar overall than dinar in a specific denomination

[TrinityeXchange]

I guess my question is, where is the "regulation" the CBI or GOI passed???

 

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+1 my friend!  that is it exactly!  there must be an official regulation posted by the CBI and we can't find it.  

 

the way I see it, if the article is real or not it gave me the push I needed to get rid of them (thankfully for the same price I paid for them) and in the process I managed to buy more dinar.

 

So for me I dont really care if the article is real or a fake ..... I dont have any 50's anymore but I do have more dinar.

 

I've been contemplating buying a few million more these past few weeks, I havent bought any dinar in about 5 years apart from the 25K notes I just bought from the exchange of my 50's ....... hmmmm to buy more or not.

good for you machine.  i'm glad some of us were able to not take a loss in all of this madness.

[Markinsa]

+1 my friend!  that is it exactly!  there must be an official regulation posted by the CBI and we can't find it.  

 

good for you machine.  i'm glad some of us were able to not take a loss in all of this madness.

 

It should hit the Gazette...  Does your Arabic Speaking friend have access to the website?

 

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