mylilpony Posted November 1, 2018 Report Share Posted November 1, 2018 From what i remember they said that the old and new would exist side by side for 2 years, and as they pulled them in they would be destroyed and that is why shabbs bought all the expensive del a rue machines and talked of having the capabilities to burn the notes within the basement of the cbi. They then stated in many articles that banks (meaning foreign) would have 10 years to turn in any currency they wished to or they could continue to hold it as a reserve currency. I also agree that for checks and balances in the market that they will roll out the lower notes as the bigger notes are brought in to maintain the proper liquidity in the markets. 5 2 Link to comment Share on other sites More sharing options...
DWS112 Posted November 2, 2018 Report Share Posted November 2, 2018 (edited) On 10/31/2018 at 8:53 PM, mylilpony said: banks (meaning foreign) would have 10 years On 10/30/2018 at 1:50 PM, blueskyline said: 2 years in country . 10 years overseas. I hope you are right but, its hard to imagine foreign banks doing the job of the CBI. "The process will take up to two years, at the end of which the old currency will ultimately be void. However, foreign banks will continue to accept [the old notes] for another 10 years - for exchange against new notes, not for circulation." "Yes, we accept voided Iraqi currency!" Edited November 2, 2018 by DWS112 1 6 Link to comment Share on other sites More sharing options...
DWS112 Posted November 2, 2018 Report Share Posted November 2, 2018 (I added the word "foreign" above) 5 Link to comment Share on other sites More sharing options...
mylilpony Posted November 3, 2018 Report Share Posted November 3, 2018 7 hours ago, DWS112 said: I hope you are right but, its hard to imagine foreign banks doing the job of the CBI. "The process will take up to two years, at the end of which the old currency will ultimately be void. However, foreign banks will continue to accept [the old notes] for another 10 years - for exchange against new notes, not for circulation." "Yes, we accept voided Iraqi currency!" I did not mean that foreign banks would accept the old notes for 10 years, what i meant was when this rv's or rd's the foreign banks holding dinar will have 10 years to turn it in to the cbi or choose to hold it in their foreign reserves. Would be nice if you could find the rest of that article from which your text comes from. 2 1 Link to comment Share on other sites More sharing options...
DWS112 Posted November 3, 2018 Report Share Posted November 3, 2018 3 hours ago, mylilpony said: Would be nice if you could find the rest of that article from which your text comes from. mylilpony, sorry for the confusion. I found the article. It was removed, but I was able to get a snapshot of it by using the Wayback Machine: Link (2nd paragraph) It is a 2012 article, maybe it is no longer relevant. 1 Link to comment Share on other sites More sharing options...
Floridian Posted November 3, 2018 Report Share Posted November 3, 2018 11 hours ago, DWS112 said: mylilpony, sorry for the confusion. I found the article. It was removed, but I was able to get a snapshot of it by using the Wayback Machine: Link (2nd paragraph) It is a 2012 article, maybe it is no longer relevant. If this article is true today, we are in BIG TROUBLE! 1 1 Link to comment Share on other sites More sharing options...
3n1 Posted November 3, 2018 Report Share Posted November 3, 2018 (edited) dws112 , welp from this cbi "source" in 2012 the thinking was to lop the 3 zeros from the currency and move the exchange rate to $1,12 or $1,13 and i have read this same wordage throughout the years so is this the definition of delete the zero's , idk or if this is in fact the cbi plan today in country and outside iraq who really knows but going by that article that would depending at what time you purchased iqd be close to a break even trade or small profit article stated 1 million iqd will equal about a thousand bucks .... we wait Edited November 3, 2018 by 3n1 6 Link to comment Share on other sites More sharing options...
Freedomwish Posted November 3, 2018 Report Share Posted November 3, 2018 On 10/30/2018 at 1:50 PM, blueskyline said: I believe it was said 2 years in country . 10 years overseas. Boom! 😎👍 On 10/31/2018 at 6:25 AM, dinarbeleiver said: Correct lol Exactamente mi amigo On 10/31/2018 at 10:59 AM, pokerplayer said: I don't think they would reprint/replace at all. I strongly believe as they come in to financial Institutions they would be pulled from circulation and maybe replaced with an equal amount of small notes. Just my 2 cents with nothing to really back it up. pp The time frame of the 2 year to the 10 year mark to my understanding, is the collection process of the Dinar notes. My bottle of whiskey to back you up on celebration day my friend, yup! On 10/31/2018 at 4:58 PM, Adam Montana said: I'll back you up on that with my additional so now we have 4! Compound this baby with another to hit up 6, day by day we all hope this ride is coming to a close soon!! 1 1 4 Link to comment Share on other sites More sharing options...
mylilpony Posted November 4, 2018 Report Share Posted November 4, 2018 To me this article is written in english fashion way too much. Its also the authors opinion. 2 Link to comment Share on other sites More sharing options...
mylilpony Posted November 4, 2018 Report Share Posted November 4, 2018 1.125 dinars to the dollar. 1 divided by 1.125 equals 0.88 0.88 x 1,000,000 dinar equals 880,000.. anyone please feel free to correct me i may be way off on this one. 1 1 Link to comment Share on other sites More sharing options...
Texstorm Posted November 4, 2018 Report Share Posted November 4, 2018 (edited) Yes the zero's will delete one day... what goes up... must come down. I hope and pray that it's in our favor. If it's not I won't be any broker than I am today living day to day ! We all already set this aside...let it roll folks. If this is real and God is real , we really don't have to worry. I'd rather have my mother and father and daughter and grandson and my wife and two brothers and all of theirs .....than all of the riches of the world. That's what's important ! This is a just our dream to be able to do good and provide past what we all have. So If God See's fit for us to get there , I'm sure we will. And if he doesn't all I really care about is , all that I get to hold all that is dear to my heart and my world. That's what we really got and nothing else. Thank you DV ! Edited November 4, 2018 by Texstorm 1 5 2 Link to comment Share on other sites More sharing options...
Pitcher Posted November 4, 2018 Report Share Posted November 4, 2018 Right on Texstorm. God, Family, Work, that’s my order. If those are in the right way everything else falls in place. 1 1 4 Link to comment Share on other sites More sharing options...
Floridian Posted November 4, 2018 Report Share Posted November 4, 2018 2 hours ago, mylilpony said: To me this article is written in english fashion way too much. Its also the authors opinion. Thanks, Mylilpony. I didn't realize it was an opinion piece. I thought the guy was an Iraqi economist or some kind of financial expert. 1 Link to comment Share on other sites More sharing options...
Mary B Posted November 19, 2018 Report Share Posted November 19, 2018 Central Bank reveals to "NAS" details of the project "Structuring the currency" [ltr]Monday 19 November 2018[/ltr] [rtl]Baghdad - Nas[/rtl] [rtl]The Central Bank of Iraq revealed on Monday details of the project "Structuring the currency", which aims to delete 3 zeros, to facilitate the circulation of currency.[/rtl] [rtl]"The currency structuring project, when it was first floated, faced many objections. It was postponed to be launched again in 2014 and started to be implemented," said Abdulkarim Hassan, general manager of the issue and treasury, in an interview with NAS today (November 19, 2018). A new reason to postpone it. "[/rtl] [rtl]Hassan explained that "the draft currency structure aims to delete three zeros to turn the category of a thousand dinars to one dinar, while replacing the thousand dinars in the place of one million dinars." He pointed out that "the project allows the printing of new categories of dinar and half dinars down to deal with the bank."[/rtl] [rtl]He stressed that "the idea is integrated and there is a comprehensive study and the project does not need to apply," stressing that "this project must be implemented despite the obstacles that led to the postponement." ]https://www.nasnews.com/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D9%83%D8%B4%D9%81-%D9%84%D9%80-%D9%86%D8%A7%D8%B3-%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84-%D9%85%D8%B4%D8%B1%D9%88/ [rtl]https://www.nasnews.com/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D9%83%D8%B4%D9%81-%D9%84%D9%80-%D9%86%D8%A7%D8%B3-%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84-%D9%85%D8%B4%D8%B1%D9%88/[ 1 11 3 Link to comment Share on other sites More sharing options...
6ly410 Posted November 19, 2018 Report Share Posted November 19, 2018 6 minutes ago, Mary B said: stressing that "this project must be implemented despite the obstacles that led to the postponement 2 8 Link to comment Share on other sites More sharing options...
jake21 Posted November 19, 2018 Report Share Posted November 19, 2018 JUST DO IT ALREADY!!!!!! 3 3 Link to comment Share on other sites More sharing options...
BKD Posted November 19, 2018 Report Share Posted November 19, 2018 We are all set for the RV!! let's see the zeros gone and then the revaluation of the dinar. 4 Link to comment Share on other sites More sharing options...
psdon Posted November 19, 2018 Report Share Posted November 19, 2018 2 Link to comment Share on other sites More sharing options...
King Bean Posted November 19, 2018 Report Share Posted November 19, 2018 1 hour ago, Mary B said: currency structure aims to delete three zeros to turn the category of a thousand dinars to one dinar So this seems to indicate a 1000 IQD would be seen as a 1 IQD, if I'm reading this right. That eliminates all those thoughts that it would come off the current value $.00086 thus making it $.86. But then what would the real world 'value' be of the 1000 IQD note that becomes 1 IQD?? Inquiring minds want to know. 1 2 Link to comment Share on other sites More sharing options...
Spartakus Posted November 19, 2018 Report Share Posted November 19, 2018 This is great news. And this is from someone in the know. Hope they implement it now not this infamous word "soon". 1 Link to comment Share on other sites More sharing options...
Spartakus Posted November 19, 2018 Report Share Posted November 19, 2018 This goes without saying that they also have to remove the three lagging zeros from the rate in order to benefit iraq's economy. 3 Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted November 19, 2018 Report Share Posted November 19, 2018 18 minutes ago, King Bean said: So this seems to indicate a 1000 IQD would be seen as a 1 IQD, if I'm reading this right. That eliminates all those thoughts that it would come off the current value $.00086 thus making it $.86. But then what would the real world 'value' be of the 1000 IQD note that becomes 1 IQD?? Inquiring minds want to know. I don’t think that’s the case, otherwise why would they be printing new categories of one dinar and one half dinar if the value was so minuscule..? He pointed out that "the project allows the printing of new categories of dinar and half dinars down to deal with the bank." 1 4 Link to comment Share on other sites More sharing options...
Floridian Posted November 19, 2018 Report Share Posted November 19, 2018 46 minutes ago, King Bean said: So this seems to indicate a 1000 IQD would be seen as a 1 IQD, if I'm reading this right. That eliminates all those thoughts that it would come off the current value $.00086 thus making it $.86. But then what would the real world 'value' be of the 1000 IQD note that becomes 1 IQD?? Inquiring minds want to know. That’s what they’ve been saying for years - “delete the zeros from the currency”. 1 2 Link to comment Share on other sites More sharing options...
Floridian Posted November 19, 2018 Report Share Posted November 19, 2018 The way I’m reading it is that the former 1,000 note replaces 1 million dinar. The 1,000 note will be the highest note they have. The new one dinar note will be equal to the dollar. I hope I’m wrong. 3 Link to comment Share on other sites More sharing options...
DWS112 Posted November 19, 2018 Report Share Posted November 19, 2018 53 minutes ago, King Bean said: So this seems to indicate a 1000 IQD would be seen as a 1 IQD, if I'm reading this right. That eliminates all those thoughts that it would come off the current value $.00086 thus making it $.86. But then what would the real world 'value' be of the 1000 IQD note that becomes 1 IQD?? Inquiring minds want to know. OR... a new 1 IQD note worth $.86 will buy what 1000 IQD note valued at $.86 will buy. Not good! 3 Link to comment Share on other sites More sharing options...
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