Formation of a committee to issue coins of 50 categories and 100 dinars pave the way for the abolition of zeros

[Officiallytook]

Wooooooooot!!!

2015 z28 here I come

[SnowGlobe7]

I have read this article over and over three different times today.

 

It could go either way.

 

I think if they were not going to raise the value they would not even be addressing the issue. 

 

There is my conclusion

 

But hey..I am a cat..what do I know

[yota691]

Sat, 11 Apr 2015 12:51:57

The formation of a finance committee to issue fifty-categories and one hundred thousand dinars

 

 

Announced the parliamentary finance committee member Masood Haider, on Saturday, the formation of a committee to study the coins version of the categories of the fifty and one hundred thousand Iraqi dinars, stressing that these categories booting to remove zeros from the Iraqi currency in the future. Haider said in a statement seen by "agency Sama Baghdad news" that "the Governor of the Central Bank and the committee studying the issue has not been printed this currency so far," noting that "the Society Committee is considering all secure aspects and compared with other currencies began to release.""The work on the issuance of these two categories booting to remove zeros from the Iraqi currency in the future," explaining that "there is a procedure to remove three zeroes must be the presence of large groups of currencies in the future, for example, instead of 50 000 is 50 dinars." He stressed that "the launching of a currency so does not affect the balance of the Iraqi currency against the dollar and foreign," noting that "that affects the balance of the Iraqi currency is a strong economy in general."

[yota691]

Parliamentary Finance: Delete the zeros catalyst to strengthen the national currency

Economic

 Since 04/11/2015 16:51 pm (Baghdad time)

Special scales News

A member of the parliamentary finance committee, on Saturday, about an intention to issue a new monetary categories "Khamisn thousand one hundred thousand", stressing that the aim is to strengthen the currency after deletion of zeros.

Said Mohammed's / scales News / "The financial mechanism parliamentary discussed the issuance of new categories to the category of cash and fifty thousand percent as a prelude to the deletion of zeros from the currency."

"The goal of the process of issuing monetary categories and deletion of zeros to strengthen the national currency," he said, adding: "The Ankhvaz the monetary value of the dinar against the dollar is to be used in insider more than the Iraqi dinar."

Parliamentary Finance Committee announced on Saturday, the formation of a committee to study the coins version of the categories of the fifty and one hundred thousand Iraqi dinars, stressing that these categories booting to remove zeros from the Iraqi currency in the future. Finished / 29 / d 24

Read more: http://dinarvets.com/forums/index.php?/topic/200635-parliamentary-finance-delete-the-zeros-catalyst-to-strengthen-the-national-currency/#ixzz3X5enVkVq

[ChuckFinley]

Tanks Yota. Looking interesting.

[gregp]

I had to read these articles several times. Delete the zeros articles are written in a confusing manner. Thanks Yota.

[magawatt]

I have no idea how much the "coin" will weigh. If it weighs an oz., it would be worth $1250 USD which if the dinar went 1=1 with the

USD would be like dropping the 000s on the nominal dinar. Neat and clean.

Edited April 12, 2015 by magawatt

[magawatt]

.... and assuming the coin actually was gold or represented an equivalent weight of gold.

[SnowGlobe7]

I have no idea how much the "coin" will weigh. If it weighs an oz., it would be worth $1250 USD which if the dinar went 1=1 with the

USD would be like dropping the 000s on the nominal dinar. Neat and clean.

 

Now this makes sense to me

[NoviceInvestor]

Why do they have to form another committee to discuss this? ...

[skeetdog]

Markinsa that's a very astute annulation of this process... ....Where's ''The Machine'' when we need knowledge of fine metals....      

[Integrativedoc]

Monetary systems don't just change the face value of a coin to where the weight of precious metal in the coin is its value. Sorry

[skeetdog]

''The Machine''...''Markinsa'' came up with a theory on that said thread that has some weight (pun intended)...It's in the rims of using gold coins for a last ditch effort to get the remaining large bills from the Hold-outs inside Iraq....Markinsa idea and correct me if I'm wrong in quotin' ya Markinsa but here goes...

 

IN dealing with the 50,000 dinar coin...Two 25,000 dinars would purchase the 50,000dinar coin...Here's where we need your expert input to the weight ratio...That said; The amount of gold required to equal the value today of the 25,000 dinar, it wouldn't take that much weight in gold...The question to you is; per say the dinar does come international at 1:1 with the USD what amount of gold would it take to mint a coin that would make the transaction profitable if at all possible... I hope you can dig the meanin' out of this cause I've onfused myself....''Thanks''

Edited April 13, 2015 by Markinsa
Moved Post from "Missing Topic"

[The Machine]

''The Machine''...''Markinsa'' came up with a theory on that said thread that has some weight (pun intended)...It's in the rims of using gold coins for a last ditch effort to get the remaining large bills from the Hold-outs inside Iraq....Markinsa idea and correct me if I'm wrong in quotin' ya Markinsa but here goes...

 

IN dealing with the 50,000 dinar coin...Two 25,000 dinars would purchase the 50,000dinar coin...Here's where we need your expert input to the weight ratio...That said; The amount of gold required to equal the value today of the 25,000 dinar, it wouldn't take that much weight in gold...The question to you is; per say the dinar does come international at 1:1 with the USD what amount of gold would it take to mint a coin that would make the transaction profitable if at all possible... I hope you can dig the meanin' out of this cause I've onfused myself....''Thanks''

 

 

yeah you've knid of confused me too lol but i'll try to desipher what your looking for,

 

 

25,000 IQD @ current rate on XE.com = $21.05

 

current gold value is $1199.20 per troy ounce ...... or  $38.55 per gram

 

so at current value 25,000IQD = 0.54g of 999.9% gold

 

if the rate changed to 1:1 the coin would need to be 20.84Oz in weight (648.21g) to be of equivalent value.

 

 

now a 50,000 dinar coin at todays value would be equal to 1.08g or $41.63

 

@ a 1:1 RV ratio where 50,000IQD = $50,000 to make a coin of equivalent value it would have to be 41.69 Oz's or 1296.55 grams

 

 

but heres the kicker, the value on gold currency does not have to equal the denomination printed on it ...... but normally it has equalled it at some stage in the past (for example the US gold eagle .... says $50 but is worth $1199.20) but at one stage it was only worth $50.

 

so anyway a coin worth $50,000 that weighs over 1.2Kg's would be not just impracticle but highly unlikely for anybody to produce on a large scale.

 

Or do you mean they produce a 50,000 dinar coin now which only needs just over a gram of gold, then post RV @ 1:1 the gold value of the coin is still only worth $40 odd dollars but the face value would be $50,000.

Edited April 13, 2015 by Markinsa
Moved Post from "Missing Topic"

[skeetdog]

Thanks Machine...That answers my question completely and I value your knowledge and integrity of your forte'....Markinsa is the brain child of this concept and the replies to the original thread were speculative at best....I said to myself, self....''The Machine'' is the man that would have the plan...I'd refer you to Markinsa for any tweakin' and rebuttal of his theory...as for me your ''The Machine''...My Man....''Thanks Again''....  

Edited April 13, 2015 by Markinsa
Moved Post from "Missing Topic"

[Markinsa]

So the CBI could issue a 1g Gold 50 Dinar Coin worth $40.00, and the market rate for that coin would actually be 50K Dinar?  Would that work?

 

.

[SnowGlobe7]

Would work for me