It concerns the application of 'the law of the fish' on the Iraqi dinar categories

[yota691]

First Published: 2016-01-17

 

It concerns the application of 'the law of the fish' on the Iraqi dinar categories

 

With the release paper 50 thousand dinars, analysts reckon depreciation of the currency for reasons related to the Iraqi market mood rather than economic factors.

 

Middle East Online

 

The money supply goes down, people feel Balglae

BAGHDAD - The Iraqi Central Bank after the issuance of the currency of the category of 50 thousand dinars, began increasing people's fears of extinction of small currency and rising prices again.

Surprised by Mohammed Mahmoud, a monthly salary received by the existence of a new class of securities, a fifty-thousand Iraqi dinars category and that the Iraqi Central Bank announced its intention to be printed in the atheist th of November last.

 

Mahmoud owner sees relatively high salary in the presence of this coin is easy for him to carry his salary without draw attention to it especially because it is forced to cut large walk distance from the government department in which it operates and even the place where it leaves his car.

 

Mahmoud says, "I previously had to hide the salary black bags because the amount that Otzlmh relatively large presence of small groups of five thousand or ten thousand class be dangerous up somewhat because passers-by come to their notice my pregnancy a large amount of Mali while I came out of the circle, which makes me vulnerable to thieves."

 

But some believe that the new paper would hurt the fifty thousand category Boodall much as their living Abdul Sattar, who works daily wages in the capital Baghdad Secretariat.

 

Ali young person who earns a daily ten thousand Iraqi dinars allocated amount thousand dinars them to go back and forth from his home to the Secretariat building and vice versa. He fears that the freight rise in the way of one to five hundred thousand dinars, which means doubling the sum earmarked for the transfer with the expected decline in his daily wages, according to the approved by the government to reduce public expenditures, especially salaries and wages of its employees by three percent.

 

In practical terms there is nothing to confirm fears but he cites the high transport fares from 250 dinars to 500 when the banknote is printed with twenty-five thousand class a few years ago.

 

Ali says, "we had coins of small categories with 25 categories Coins dinars and 100 dinars no longer exist today essentially."

 

These currencies disappearance of daily trades directly means a rise in the price of cheap goods to the highest in turn affect the inflation index in the country and that its effects will be clear to those with middle and low income levels mainly.

 

Valslah that were sold, for example, at 250 dinars price tag could rise to 500 which means a decrease in the value of one thousand dinars, the unit for measuring the approximate price in the local market to a half thousand dinars, and approximately equal to US $ 0.8.

 

Iraqi Central Bank began distributing small quantities of the new currency on some state departments and some banks to gradually raise the amount even access to the size decision.

 

Economists and although they do not see a direct correlation between the issuance of large groups of currency and the decline in the value of small groups, but they reckon decline actually check what they describe temperament Iraqi market and the consumer alike.

 

Says economic researcher Bassam as "the Iraqi market not subject to the standards of their counterparts in the rest of the world is well known that the version of the big groups come to reduce the size of the money supply, especially in the corporate, business and other segments of large trades."

 

The spokesman adds, "There is a mood in the local market back to the desire of the consumer primarily to the reduction of the value of small groups in the case of large groups have become significantly in circulation and this is what in fact is difficult to explain."

 

According to the researcher himself, the solution is to keep large groups currencies for the enjoyment of its benefits in the big trade with the continuation of the Iraqi Central Bank in small groups with the issuance of currency to keep it fresh in the daily trading limit and strengthened procedures of any expected price inflation.

 

The presence of cash and paper category of 50 thousand dinars, equivalent to US $ 42 worth of daily transactions easier in large trades by contributing significantly to the reduction of the money supply by almost half as the banknote top value previously was with a class of 25 thousand.

 

The continued issuance of small groups on the value of goods and currencies will maintain low prices and prevent high prices.

 

Central Bank For his part, the domestic market affected by the issuance of a new currency with the fifty thousand class did not rule therefore decided to wait in the same hundred thousand dinars category approved by the former to avoid any inflation, currency issuance, while the aim of the issuance of the fifty thousand class was reducing the size of the currency used in trading daily, which in turn led to the lifting of the rate of inflation, according to the announcement earlier in the bank's governor on the Keywords.

 

In all cases, the new currency was issued and began to spread in the local market gradually as planned central bank is that the spread of caution reflects to some extent the concerns of traded currencies subject to fisheries law, which feared by middle and low income earners in case I ate big Currency small counterpart and was replaced in the market local.(Discussion)

 

[limopeter]

Lets hope this is not the case otherwise we are all domed with our investment. Then again this could be scare tactics to get us all to get rid of our Dinars due to an eventual RV. One way or another we shall all no soon enough. GO RV Please

[jeepguy]

I looked over  a few  of the  deals  here ,  did  any one  notice  the  wording ,  high  salaries  ,   with the present of   THIS  COIN  ,  is  easy for him too  carry !    so  we  have  been  mislead  from  the get go ,  in  my thinking  they have been  printing  both  notes,  and  coins ,   "  the   person also  commented  , with these  ( coins )   it is easier too transport  with out being noticed  with  large  black bags  of  dinar notes !   coins   COINS   C O I N S  !   so why am I excited  about  goofy  coins ?  if  they had been  saying  the dinar had been printed , and  it is in  the windows  at banks ,  they never mentioned   coins , every one  was lead to believe  , coins  would not even be  stamped out  < ---------  about  3  years ago ,   we  had  noticed  in a couple articles , that  coins  would be  starting too be  produced ,  after  6 months or so  they had  stated  it was  not  too be  , it cost too much ,  or this was a problem  or that ,   then  this  business person  , let  the ---  cat  out  of  da bag  -- so too speak ,   "  it  is  easier  too carry coins "    so they are infact   out in the market place  and  getting passed  around !      { fire up another  stogie  , and  let  the smoke  roll please   }    and  another  part of wording  that  I  spied >      is  the remark ,  "  it  is  was  worth  250  ,   now  500   dinar  for  1000   a  decrease  in value   "     LOOK AT IT AGAIN    it cost  250   dinar  for  1000  ,  now it cost  500  for 1000   {  does this look like  a  decline  for us  ?     heck no !  }   I think this is the  flow  we are looking for  it cost  Iraqi  more  too buy  dinar  or  earn  dinar  ,  which  puts  the   squeeze  on  the  dinar  note  which  makes it  much more  needed  , which  also  tells us  they are  about  too the tipping point  {  just my  thinking n this  article  with the next   point  }   and all of this  I just  stated  is   EQUAL  TOO 0.8.    <---------  do I read it  right  .8   cents   we  shall wait  and  see what falls  next  !    remember   I just asked them  too light  up another stogie   !       please  let it  be  really  close !  

Edited January 17, 2016 by jeepguy

[calkid11]

Thank you Yota

[yota691]

Cost of Printing...article from 2012....

Posted 16 July 2012 - 05:50 AM

Central Bank: speculative cost of the project to delete the zeros up to 172 billion dinars

07/14/2012



BAGHDAD / JD / .. the Iraqi Central Bank estimated cost speculative project to delete the zeros from the currency up to 172 billion dinars .. The study by a private project delete the zeros received / JD / copy: The total cost of speculative to project the deletion of zeros up to a hundred and seventy-two billion dinars, ".. the bank said in his study that the wages of transport and insurance of the role of copyright to the Baghdad International Airport up to (140), calculated on the basis of the ratio between the highest and lowest price (90-189) billion dinars from the presentations made by companies .. He added that "the cost of speculative Stamping coins of the new currency of (16) billion dinars," the bank .. He continued, "The wages of cargo , Fridays and official holidays, overtime, etc. .. of (15) billion dinars ".. He pointed out that the cost of the media campaign and the costs of different limits (1) billion dinars, the bank .. and recalled the cost of the replacement process for the period from 15/10/2003 to 15 / 4/2004 amounted to the wages of the printing and transfer of currency to (240) dinars, and wages of minting coins up to (16) billion dinars, and a ring of total costs allocated to the banks amounted to (13) billion dinars. and attributed the bank the reasons for the deletion of zeros for three reasons First, the process Delete the zeros will be an opportunity to add new features of the Iraqi currency to prevent potential counterfeiting of the new currency through the use of specifications of high security, leading to increased customer confidence (public institutions) as a result of low or no cases of fraud .. He pointed out that the second reason that the process of removing zeros will to reduce Alokiem digital currency and financial Almahacbah and may reduce the role of time, effort and cost required to complete financial transactions and accounting as well as the possibility of reducing the number of banknotes traded, especially if banknotes were printed large categories ".. He said the third reason Vankh enhances the possibility of maintaining the Iraqi dinar exchange rate against foreign currencies gained the confidence of its customers. The central bank has 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) .. The 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. / Finished / 11 n

Read more: http://dinarvets.com/forums/index.php?/topic/123188-central-bank-speculative-cost-of-the-project-to-delete-the-zeros-up-to-172-billion-dinars/#ixzz3xVWfgfNz

Posted 17 July 2012 - 11:44 PM

The cost of printing the currency after you delete the zeros quarter of the cost of printing currency current

17/07/2012 17:15


Deputy Governor of the Central Bank of the appearance of Mohammed Saleh

"Gate of Iraq" BAGHDAD - Vice Governor of the Central Bank of the appearance of Mohammed Saleh said that "the real cost for the printing of new Iraqi currency after deletion of zeros in the current period cost a quarter of which is printed by the Iraqi currency currently in circulation."

And pointed out that "accelerate the process of printing the new currency is in the interest of the country in the current period because the deferred into the future lead to a cost increase to three times the cost to be allocated for printing in the current period."

Hesitated and news about the high cost of printing Iraqi currency after deletion of zeros to the imaginary numbers of up to one hundred and seventy billion Iraqi dinars.

The project has been delayed to delete the zeros due to some work by Almarqlat, especially after extensive controversy about it.

Iraq had replaced its currency in 2005 as it continued currency of the former regime for nearly two years.

Read more: http://dinarvets.com/forums/index.php?/topic/123380-the-cost-of-printing-the-currency-after-delete-zeros/#ixzz3xVX29crZ

and one more...

Vice-print categories suggests large cash instead of currency exchange

07/14/2012


BAGHDAD / JD / .. called a member of the Finance Committee, the parliamentary deputy from the Kurdistan Alliance Najiba Najib to print categories with a cash value of the cash and the cancellation of the project the largest printing the new currency and deleting three zeros. Said Najib told / JD / that "any success for the draft Central Bank of Iraq switched currency and deleting three zeros depends mainly on the support of executive and legislative branches, but the technical matters only is the prerogative of the Central Bank" and "The Finance Committee held several meetings with the bank Central on the subject but now waiting for the green light from the government because it related to their position on currency exchange in spite of clarifying many details of the government "and showed that" one of the members of the committee proposed the idea to replace switch the currency and delete zeros printed currency is large groups (50000 and 100000) KD But it is the Central Bank. 

Read more: http://dinarvets.com/forums/index.php?/topic/123055-vice-print-categories-suggests-large-cash-instead-of-currency-exchange/#ixzz3xVYATSMJ

[jeepguy]

I am going out on a limb  on that  very last article  ,  it  seems  too say the cost  after the zero`s are lifted ,  25,ooo 10,ooo 5,ooo  ----  printing new notes  that  would reflect  25.oo  10.oo 5.oo   < ------ these  would be  in service  side by side  with  both  type of notes  ,  25,ooo  10,ooo 5,ooo    and  the new notes  25.oo 10.oo 5.oo    all notes  with a new value  { what ever value  they finally  get too  }  and  2 too 1 value  would  work  just  fine  with me  !          { do I read that correct ? } 

[TQueezy]

I thought Iraqis referred to lower denomination dinar notes as coins? These were the paper bank notes between 1 and 500 dinar, as they represented a value less than one US dollar, thereby equating to coins in exchange rate. 

[Zcountess]

coins are fils ! period..Maybe a translation issue is why it's confusing.!THE WHOLE ARTICLE IS A MESS TO DISCERN ..!

Edited January 17, 2016 by Zcountess

[notaguru]

Over the years, I've come to conclusion that Coin = Note. You have to study the context of the subject matter. In this case...they're talking about the new 50,000 notes, and how much less paper money they have to carry on their person vs. leaving it in their car, ect...

Edited January 17, 2016 by notaguru

[SnowGlobe7]

translation issue again...yup yup yup

[Laid Back]

If the 50k note is real. Our wait could be longer.!

"Large presence of small groups, 5000 and 10000"

Looks like the CBI did a good job collecting the mayority of 25000 note from the streets in Iraq.

Go CBI

Go monetary reform

Go dinar

Go increase exchange rate

Go $1:1

[pocono]

Wasn't there an article last week stating a German printing firm was printing new security enhanced 25k notes with the same white border that the new 10k notes have?

[yota691]

Wasn't there an article last week stating a German printing firm was printing new security enhanced 25k notes with the same white border that the new 10k notes have?

Why the CBI said fraud categories 10 and 25 thousand dinars?

Saturday 09-01-2016 | 10:04:20

 

 

Saturday 09-01-2016 | 10:04:20

 

 

 

 

 

 

 

 

 

Class 10 thousand Iraqi dinars - Z p

Twilight News / director of exports and the Treasury in the Central Bank of Iraq Ihsan al-Yassiri said on Saturday that what appears in the category of 10 thousand dinars edition of the differences is a purely technical subject as focused as increased security codes, and denied the existence of the currency of the two categories of 10 thousand and 25 000 forged traded In domestic markets, he confirmed that the rumors played a role in vogue so conversations which were not limited to the Iraqi currency, but exceeded to the US dollar, which has seen a rise in the past week with little reason.

Yasiri said in a press statement that the two papers are valid in the category of 10 thousand dinars whether whale transparent framework or not shift, and this is with a technical process of the central bank was asked recently by the German printing company enhance safety in that paper.

He added that the 50 000 Iraqi dinars category came Frames White transparent, and category 25 000 also contain this technology.

Read more: http://dinarvets.com/forums/index.php?/topic/214110-why-the-cbi-said-fraud-categories-10-and-25-thousand-dinars/#ixzz3xYarnhwD

[Antietam]

They needed a larger bill. They got it with the 50,000 dinar note. No mystery here. Quit reading conspiracy in every move the CBI does. Now I will say one thing......the new 50,000 dinar note puts us one step closer to the eventual redenomination or zero drop. Let's all hope that doesn't occur because there is not one good thing that would come out of a redenomination, people. I don't care what the gurus say. We would have to trade in our old for new at a very high commission rate.

[KDuesing]

They always call paper currency coin over there.

[TQueezy]

Regardless of what everyone wants to believe, there's no evidence the CBI is "collecting" or sucking up notes from circulation other than what is needed to be replaced. But that gets removed from circulation but not the overall money supply, so they still have placeholder value to print new notes. 

 

The articles talking about cash shortage are referring to the government's available cash to pay for things like salaries and infrastructure. Iraq has just as many notes in circulation as their daily calculations require them to have. If there is less, it's because some might be leaving the country illegally, just as with the US dollar notes they circulate. The CBI's job is to maintain balance and stability with their money supply, currency value, and storage of Iraq's sovereign assets.