The central bank issues a decision to cover the market need of small monetary categories

[Floridian]

5 minutes ago, js214 said:

Having the economy they do and Upping their amounts of Gold storage on top of their other assets, to me seems overkill just to hand folks a break even

 

It won't be a "break even" for us.  Iraq gets the purchasing power of the dollar (instead of the current purchasing power of the dinar).  Same as the dollar that they are used to now.  The dinar in Iraq will be worth what our dollar is worth.

 

We get a big exchange rate, instead of the current 0.00086 exchange rate.

 

How come no one understands this?  I don't know how else to explain this.

The new exchange rate is anybody's guess.  I gave my guess.  That's it.

Edited September 13, 2018 by Floridian

[DWS112]

So the 250, 500 and 1000 become .25, .50 and 1.00 (move decimal 3 places to the left), and they are used side by side with the new coins that are coming out soon. Hence the need for huge amounts of the small denoms.

[6ly410]

Exciting times right now.. 

[NEPatriotsFan1]

6 minutes ago, js214 said:

Having the economy they do and Upping their amounts of Gold storage on top of their other assets, to me seems overkill just to hand folks a break even

Exactly! IMO total BS.... if they were gonna do that they would’ve done it years ago! They’ve had a “suitable environment” to screw their people and us for years now!!! I believe this will be an extra ordinary event..... I feel it will be a catalyst for the entire global economy to rebalance....but what do I know? I’m just a gnat on the back of the elephant... so we wait.... hopefully not much longer.... like Chuck Finley said this is OUR year!!!

[CSM (R) Thack]

5 minutes ago, NEPatriotsFan1 said:

I’m just a gnat on the back of the elephant... so we wait.... hopefully not much longer.... like Chuck Finley said this is OUR year!!!

Hoping you and CF are right...”OUR YEAR”!!🇺🇸👍

[js214]

3 minutes ago, DWS112 said:

So the 250, 500 and 1000 become .25, .50 and 1.00 (move decimal 3 places to the left), and they are used side by side with the new coins that are coming out soon. Hence the need for huge amounts of the small denoms.

1

That is removing the zeros off the Rate-- .00086 becoming .86 example 

 

"How come no one understands this?"

 

"You have a $25,000 iraqi dinar that at the present is worth $21.50.  Now you delete the zeros off the note and don't change the rate.  Now you have a $25 iraqi dinar at .00086 exchange rate"

 

 Because essentially you are saying 25k will fetch us 25.00 woohoo  "  The dinar in Iraq will be worth what our dollar is worth"  ?? two different statements.. this would or could be construed at a removal of the rate zeros , no? .00086  .86 gives us close to a dollar per    so which is it?

 

 

 

"

[Officiallytook]

When ever a country talks or removes or add zeros it's always at the point of exchanges am I wrong?

[Floridian]

5 minutes ago, js214 said:

That is removing the zeros off the Rate-- .00086 becoming .86 example 

 

"How come no one understands this?"

 

"You have a $25,000 iraqi dinar that at the present is worth $21.50.  Now you delete the zeros off the note and don't change the rate.  Now you have a $25 iraqi dinar at .00086 exchange rate"

 

 Because essentially you are saying 25k will fetch us 25.00 woohoo  "  The dinar in Iraq will be worth what our dollar is worth"  ?? two different statements.. this would or could be construed at a removal of the rate zeros , no? .00086  .86 gives us close to a dollar per    so which is it?

 

 

 

"

 

I am not saying that at all.

 

 You don’t understand what I’m saying and I don’t know how else to say it.   I’m tired of trying to make you understand, so I’m not talking anymore tonight and maybe never. This way, a lot of you people will be very happy. 

 

 In the words of Mike Myers, “talk among amongst yourselves“. 

[Carrello]

Does anyone know where I could get the article that was written about Jan 2018 that stated the RV would take place after the election? Thanks. I appreciate any help finding this article.

[jg1]

7 minutes ago, Floridian said:

 

I am not saying that at all.

 

 You don’t understand what I’m saying and I don’t know how else to say it.   I’m tired of trying to make you understand, so I’m not talking anymore tonight and maybe never. This way, a lot of you people will be very happy. 

 

 In the words of Mike Myers, “talk among amongst yourselves“. 

Oh come on Floridian, take a breather. It's all hard to understand and it's all speculation. I think a lot of people will miss your input. Stick around for the RV party, yipee,ehhhhhh. Ok, go RV.

[js214]

3 minutes ago, Floridian said:

 

I am not saying that at all.

 

 You don’t understand what I’m saying and I don’t know how else to say it.   I’m tired of trying to make you understand, so I’m not talking anymore tonight and maybe never. This way, a lot of you people will be very happy. 

 

 In the words of Mike Myers, “talk among amongst yourselves“. 

 

2 minutes ago, jg1 said:

Oh come on Floridian, take a breather. It's all hard to understand and it's all speculation. I think a lot of people will miss your input. Stick around for the RV party, yipee,ehhhhhh. Ok, go RV.

I figured the gist out of what she was saying .However I stick to literal language and the knowledge I have learned here..not everyone understands the same way .bottom line is she is saying a dime. I understand the 25k notes will run alongside the 25 of the lower denomination."The dinar in Iraq will be worth what our dollar is worth." is where she lost me as a dollar is not a dime.. so now I understand it is referring to Purchase power..

[southbeach]

Amen, hallelujiah

[SocalDinar]

Can we see a link to news article  please 

[Carrello]

2 minutes ago, SocalDinar said:

Can we see a link to news article  please 

 

Just happened to get it for myself. Here you go: 

http://www.alsabaah.iq/Article.....?ID=129153

[pokerplayer]

53 minutes ago, Botzwana said:

i STILL LOVE THIS ARTICLE SAYING IT WILL BE OVER 3 BUCKS.

An invitation to support the dinar and the strengthening of its purchasing power

 
3/1/2017

BAGHDAD / Mustafa Hashimi

strengthening of the local currency is a national task they represent thesovereignty ofIraq and preservation of state stimuli represents a great responsibility lies with therelevant authorities in the light of a series of challenges taking place in the country.

Economic academic Dr. Essam Mahouelle called to be 2017 years to strengthen the dinar 's purchasing power and strengthens confidence in the national currency , which represents the sovereignty of Iraq, noting at the same time the need to restrict foreign business dealings only in dollars.

And ways to revive the dinar and upgrade more than its value saw Mahouelle in an interview {Sabah »necessity of things , management of the country economic mentality and purely look long - term, along with the importance Quote economic experiences of states have passed similar circumstances to what Iraq is going through, as well as the reduction of trading the dollar in commercial transactions Interior to support the national currency.

Mahouelle be regulated by the Central Bank and coordination with economic authorities and relevant ministries confirmed role in enhancing the value of the dinar by preventing the circulation of foreign currency in the local commerce for any reason whatsoever and counted only in foreign trade, indicating the importance that civil and government banks take measures that will strengthen the dealing in Iraqi dinar .

It is said that the sale price of the dollar on Monday amounted to 1310 dinars, ie 131 000 dinars, for a hundred dollars, while the total purchase price in 1300 dinars, ie 130 000 dinars, for a hundred dollars.

Mahouelle said that the decline in the value of the dinar against the dollar, in fact, began the war with Iran and the invasion of Kuwait, stressing that the policies of the former regime burned all the hopes of Iraqi economists to amend the path of the local economic situation and guide the country 's resources towards development.

He said, since the nineties of the last century and the days of international sanctions and the dollar dominates the local market transactions away from the dinar as a result of faulty economic policies pursued by the former regime.

He pointed out that when the prices of imported goods began to rise, Iraqis felt that the old price of the dinar against the dollar has fallen so much and began to think of what has become and find solutions to them.

The dollar exchange rate against the dinar has fluctuated between ascending and descending was reported in the nineties about 4000 dinars to the dollar, while the price has seen a gradual decline after 2003 to continue to decline to 1,200 dinars to the dollar in the last ten years, while he returned to rise again after the adoption of the budget in 2015 and forcing the Central Bank identifies sales of foreign currency in accordance with Article 50 of that year 's budget law.

Mahouelle explained that the International Monetary Fund and the post - World War II division of the world 's currencies to be and are non-transferable and was part of the Iraqi dinar currency is convertible.

He said the convertible currencies suitable for international settlements (ie to settle payments in foreign trade of the countries), has been preparing a list of those currencies represented currencies the victors in World War II, and did not include the Soviet bloc currencies at the time because of the approach is capitalist in the conduct of its economy and the economies of countries that fall under its control.

He said either the Iraqi currency was within the currency is convertible which can not be used for international settlements , but turning it into another currency, or to the dollar (Oogerh), and goes to Iraq to be paid the proceeds of the sale of oil to the US dollar and that the equivalent of the dinar to $ 3.32.

 

Thxs Bot. Been looking off and on for that for a spell now. 

 

Pp

[NEPatriotsFan1]

2 minutes ago, Botzwana said:

As soon as I read it in 2017 I saved the heck out of this article.  I love to especially throw it out there when someone says we will break even or it will only rv to cents.

Like I was saying an extra ordinary event!!!! Let’s do this.... got some stuff I’d like to do.... lol 

 

thanks for the article Botz

[ChuckFinley]

2 hours ago, DWS112 said:

So 8 years ago they started this lopping idea? 1.2 dinars per dollar too. Sounds like it could be written today?

It sure does. Seems like this goes on forever. 

[ChuckFinley]

2 hours ago, NEPatriotsFan1 said:

The biggest word here is “if” they make that decision to rebase..... that’s what would happen.... I believe this article was written to cause confusion 

Guess they did a good job of that. 

[ChuckFinley]

2 hours ago, Floridian said:

Thanks, Chuck Finley:

 

Here is something from 2010

 

What I thought was enlightening about this article was it mentioned it would take 2 years...well guess what we are in that 2nd year! This is OUR year!

BAGHDAD: The Central Bank of Iraq has taken steps to rebase the Iraqi dinar and issue new banknotes, a senior official at the bank has said.

“We have reached a conclusion that we should take off three zeroes from the current Iraqi dinar banknotes,” Mudher Qasim, the bank’s senior advisor, told Dow Jones Newswires in an exclusive interview.

“The process is progressing and we have taken some steps,” Qasim said. “We will issue a decision in due time.”

Your welcome Floridian, I know that there has been a few more articles written but with the limited time and when the search returned 4578 i said ok, at least we have a starting point. 

[ChuckFinley]

1 hour ago, Botzwana said:

i STILL LOVE THIS ARTICLE SAYING IT WILL BE OVER 3 BUCKS.

An invitation to support the dinar and the strengthening of its purchasing power

 
3/1/2017

BAGHDAD / Mustafa Hashimi

strengthening of the local currency is a national task they represent thesovereignty ofIraq and preservation of state stimuli represents a great responsibility lies with therelevant authorities in the light of a series of challenges taking place in the country.

Economic academic Dr. Essam Mahouelle called to be 2017 years to strengthen the dinar 's purchasing power and strengthens confidence in the national currency , which represents the sovereignty of Iraq, noting at the same time the need to restrict foreign business dealings only in dollars.

And ways to revive the dinar and upgrade more than its value saw Mahouelle in an interview {Sabah »necessity of things , management of the country economic mentality and purely look long - term, along with the importance Quote economic experiences of states have passed similar circumstances to what Iraq is going through, as well as the reduction of trading the dollar in commercial transactions Interior to support the national currency.

Mahouelle be regulated by the Central Bank and coordination with economic authorities and relevant ministries confirmed role in enhancing the value of the dinar by preventing the circulation of foreign currency in the local commerce for any reason whatsoever and counted only in foreign trade, indicating the importance that civil and government banks take measures that will strengthen the dealing in Iraqi dinar .

It is said that the sale price of the dollar on Monday amounted to 1310 dinars, ie 131 000 dinars, for a hundred dollars, while the total purchase price in 1300 dinars, ie 130 000 dinars, for a hundred dollars.

Mahouelle said that the decline in the value of the dinar against the dollar, in fact, began the war with Iran and the invasion of Kuwait, stressing that the policies of the former regime burned all the hopes of Iraqi economists to amend the path of the local economic situation and guide the country 's resources towards development.

He said, since the nineties of the last century and the days of international sanctions and the dollar dominates the local market transactions away from the dinar as a result of faulty economic policies pursued by the former regime.

He pointed out that when the prices of imported goods began to rise, Iraqis felt that the old price of the dinar against the dollar has fallen so much and began to think of what has become and find solutions to them.

The dollar exchange rate against the dinar has fluctuated between ascending and descending was reported in the nineties about 4000 dinars to the dollar, while the price has seen a gradual decline after 2003 to continue to decline to 1,200 dinars to the dollar in the last ten years, while he returned to rise again after the adoption of the budget in 2015 and forcing the Central Bank identifies sales of foreign currency in accordance with Article 50 of that year 's budget law.

Mahouelle explained that the International Monetary Fund and the post - World War II division of the world 's currencies to be and are non-transferable and was part of the Iraqi dinar currency is convertible.

He said the convertible currencies suitable for international settlements (ie to settle payments in foreign trade of the countries), has been preparing a list of those currencies represented currencies the victors in World War II, and did not include the Soviet bloc currencies at the time because of the approach is capitalist in the conduct of its economy and the economies of countries that fall under its control.

He said either the Iraqi currency was within the currency is convertible which can not be used for international settlements , but turning it into another currency, or to the dollar (Oogerh), and goes to Iraq to be paid the proceeds of the sale of oil to the US dollar and that the equivalent of the dinar to $ 3.32.

Thanks Botswana, I knew that there was more articles out there, enjoy your evening. 

[blueskyline]

http://economy-news.net/content.php?id=13642......

Secretary: Dealing with electronic card helps reduce the damage of cash

 

Safe haven

money and business

Economy News Baghdad The economic expert, Al-Amin safe haven, a move by the Central Bank to put quantities of local currency that meet the needs of the market and citizen, calling for the need to encourage the use of the card (Key Card) to reduce the damage of cash. The secretary said in a statement quoted by the newspaper "time" and viewed by "economy News", "The local currency has passed on the issuance of more than a decade, causing damage to large quantities of them as a result of trading among citizens over the past years and this is contrary to what is in other countries, Damaged every five years. " He pointed out that "the bank's positive step to meet the need of the market and the citizen, despite the delay because the small local currencies have become scarce and most of them damaged," and the Secretary said that "strengthening the currency and the Iraqi dinar at the present time, where some countries are experiencing economic deterioration leads to the recovery of Iraq's economy and the bank need attention For this sensitive issue. " "Unfortunately, Iraq is still lagging behind in the use of electronic financial cards in transactions such as the card and others that contain the bank account of the person and through which to shop from any party, so those concerned encourage the use of these cards to keep the currency from damage." The bank plans to launch large amounts of local currency in small groups next month.

[Vespa_Romeo]

45 minutes ago, blueskyline said:

http://economy-news.net/content.php?id=13642......

The bank plans to launch large amounts of local currency in small groups next month.

Love this phrase a lot..Thanks Blueskyline!

Edited September 13, 2018 by Vespa_Romeo

[ChuckFinley]

1 hour ago, Vespa_Romeo said:

Love this phrase a lot..Thanks Blueskyline!

Vespa_Romeo, I have seen you pop in a few days ago. I trust you are doing well. By the way, one that phrase too.  

[Carrello]

Why would he address other countries economic deterioration when speaking of the  scarcity of smalls leading to Iraq's economic recovery?

 

"...despite the delay because the small local currencies have become scarce and most of them damaged," and the Secretary said that "strengthening the currency and the Iraqi dinar at the present time, where some countries are experiencing economic deterioration leads to the recovery of Iraq's economy ..." 

[SocalDinar]

Thanks Carrello,

Been a while since we chatted. Hope all is well  Whats your take on this article.? Seems to me that this economist is speaking of the history of the dinar with this following sentence. 

 

 "The Iraqi currency was one of the non-convertible currencies, which can not be used for international settlements except by converting them to another currency, that is to the dollar (or other), and things went on in Iraq until the proceeds of the sale of oil are paid in US dollars and the dinar equals 3.32 dollars.

 

Here is the last paragraph of this article

 

He said that Iraq, which has a population of 8 million, did not know the citizens of the dollar and the form and did not trade within the borders of the country at all, and it is difficult to find a shop, in that era, showing his goods priced in dollars.
He pointed out that importers of goods (commercial / industrial / agricultural) were converting the dinar to the dollar when paying their prices through banks, where the public did not feel the importance of the American currency only when traveling abroad and go to banks and convert them to the dinar to the dollar and give them Foreign currency in cash or travelers' instruments after the approval of the Central Bank under the law of foreign transfer.