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Parliamentary finance identifies a reason why coins should not be minted and advises such a move


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14 minutes ago, Floridian said:

 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. 

 

If the new 1 dinar is equal to 1 dollar, what is a 25,000 dinar equal to? And remember in the old days they said old and new bills would both be "valid" for sometime... So if they make a new 1 dinar equal to 1 dollar, either our 25,000 dinar is worth a bunch or they can be thrown away as worthless... I don't know if this makes sense, but I hope my 25,000 isn't worth 25 dollars that would suck

 

B/A 

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Thanks very much for this post, Mary B- we appreciate the effort.

 

Although the final details remain to be seen, one thing is for certain: the statement couldn't come from a better source. I am of the opinion that the implementation of the project is not far off....

 

Go RV!!!

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3 minutes ago, bostonangler said:

I don't know if this makes sense, but I hope my 25,000 isn't worth 25 dollars that would suck

 

 

imo the cbi will have instructions how iqd held outside iraq will be handled but who knows right its all speculation , hope the old notes held now does not get handled like the 50 dinar did of the same categories we hold ... short window to exchange then null and void , hope for the best prepare for the worst 

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I don't think an article like this would be released if it was easy to figure out.

I do believe something is going to happen,but i have always thought the CBI

leaks info that does the work of the best  Pumpers. We are investors in their

country and with what they owe they need fresh blood.  IMHo

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40 minutes ago, bostonangler said:

 

If the new 1 dinar is equal to 1 dollar, what is a 25,000 dinar equal to? And remember in the old days they said old and new bills would both be "valid" for sometime... So if they make a new 1 dinar equal to 1 dollar, either our 25,000 dinar is worth a bunch or they can be thrown away as worthless... I don't know if this makes sense, but I hope my 25,000 isn't worth 25 dollars that would suck

 

B/A 

 

I think they meant the 2003 and 2013 bills will exist “side by side”.   Not sure I have the years right, I’m on my cell phone. 

 

Anyway, I really don’t know how this will turn out.  I hope we benefit big-time.  I am just trying to interpret the article the way it sounds to me.

 

My feeling is that they will make it easy on the Iraqis,  and make it the same is the dollar because they’re used to dealing in dollars. It’s the exchange rate that will benefit us.

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Good Afrernoon DV's .Mary B . Thank You Greatly . Botzwana . I'm fine with both of your opinions . Are we not seeing a rush of articles conflicting with each other ? A Ton of progress on all fronts ? Infrastructure, Oil and ISX  Investments ? Banking progress and Bonds ? High level meetings with other world leaders soon to be with Trump ? TALK OF THE MONETARY REFORMS ?  I'm not saying it is time . But I do think its a good idea to hang on to something ................Its seems this ride is about to get wild .......................:pirateship:.

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1 minute ago, blueskyline said:

Good Afrernoon DV's .Mary B . Thank You Greatly . Botwana . I'm fine with both of your opinions . Are we not seeing a rush of articles conflicting with each other ? A Ton of progress on all fronts ? Infrastructure, Oil and ISX  Investments ? Banking progress and Bonds ? High level meetings with other world leaders soon to be with Trump ? I'm not saying it is time . But I do think its a good idea to hang on to something ................Its seems this ride is about to get wild .......................:pirateship:.

Absoluty agree...Nothing.. nothing... sudden change...GO DINAR 

Edited by 6ly410
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4 minutes ago, blueskyline said:

Good Afrernoon DV's .Mary B . Thank You Greatly . Botzwana . I'm fine with both of your opinions . Are we not seeing a rush of articles conflicting with each other ? A Ton of progress on all fronts ? Infrastructure, Oil and ISX  Investments ? Banking progress and Bonds ? High level meetings with other world leaders soon to be with Trump ? TALK OF THE MONETARY REFORMS ?  I'm not saying it is time . But I do think its a good idea to hang on to something ................Its seems this ride is about to get wild .......................:pirateship:.

Thanks for everyone's thoughtful input.

I predict, I prophesy, I spy with my little eye... before the end of 2018 significant monetary change will be part of ALL of our experience!

Enjoy the ride!  

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Central Bank reveals to "NAS" details of the project "Structuring the currency"

Monday 19 November 2018
 

Central bank reveals to  "NAS " project details  "Currency structuring "
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Nass-NAS
Published on Nov 19, 2018
 "NAS " is an independent media organization, owned and run by journalists, not affiliated with a political party, not a party, and has no voice. People are tell us the basis to follow our reports first of all join one of our platforms on:

Web site

 

The objections led to his postponement twice.

Central bank reveals to  "NAS " project details  "Currency structuring "
Monday 19 November 2018

Baghdad – NAS

The central Bank of Iraq, on Monday, unveiled the details of the "Currency structuring" project, which aims to eliminate 3 zeros, to facilitate currency trading.

"The Currency structuring project, when it first faced many objections, was postponed to be put back in 2014 and started to apply, but the emergence of ISIS was a new reason to postpone it," said director-general of release and Cabinet Abdul Kreem Hassan in an interview with Nas today (19 November 2018).

"The Currency structure project aims to delete three zeros to convert the thousand dinars to one dinar, while the thousand dinars in the place of the million dinars," Hassan said. "The project allows for the printing of new categories of dinars and half dinars, down to the handling of the fils," he said.

"The idea is integrated and there is a comprehensive study and the project needs only to be implemented," he stressed, stressing that "this project must be carried out despite the constraints that led to its postponement."

Keywords:

Keywords:

 

I don't know who these guy are, supposedly one of them has a connection to the CBI, the other from maybe from Mahdi's Cabinet, but I think this artilce could hold mis-information.  First of all the Dinar is not floating it is pegged to the dollar.  He mentions nothing about increasing the value, which at the present rate would not make sense to delete the 3 zero's. Plus, he mentions nothing about moving out of IMF  article XIV into article VIII to make the Dinar internationally traded.  So, I retranslated in Bing: not much different.  

 

 

The objections led to his postponement twice.

Central bank reveals to  "NAS " project details  "Currency structuring "
Monday 19 November 2018

Baghdad – NAS

The central Bank of Iraq, on Monday, unveiled the details of the "Currency structuring" project, which aims to eliminate 3 zeros, to facilitate currency trading.

"The Currency structuring project, when it first faced many objections, was postponed to be put back in 2014 and started to apply, but the emergence of ISIS was a new reason to postpone it," said director-general of release and Cabinet Abdul Kreem Hassan in an interview with Nas today (19 November 2018).

"The Currency structure project aims to delete three zeros to convert the thousand dinars to one dinar, while the thousand dinars in the place of the million dinars," Hassan said. "The project allows for the printing of new categories of dinars and half dinars, down to the handling of the fils," he said.

"The idea is integrated and there is a comprehensive study and the project needs only to be implemented," he stressed, stressing that "this project must be carried out despite the constraints that led to its postponement."

Keywords:

https://www.nasnews.com/البنك-المركزي-يكشف-لـ-ناس-تفاصيل-مشرو/

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RD and we are fooked.

RV and we are golden.

 

That is the bottom line.

 

That said, Mr. Montana has postulated a dinar worth .10 ( ten cents), to start.

 If we get some sort of combobulated RD/RV and end up at ten cents I would be happy.

 

Anything more would be icing on the camel cake.

 

But I keep going back to my early pontifications...

 

If the average family in Iraq has a million dinar tucked under the mattress right now. Which is only

about $1000 dollars, and we see an RV of 1:1....

Then every family instantly becomes worth a million dollars.

Do they deserve that windfall  After all they have been through?... perhaps, but....

Making everybody in Iraq instantly wealthy could be very disruptive to the social/economic stability of the country.

 

At best I hope for some sort of combination RD/RV that starts us out at ten cents, with the potential for

future gains as Iraq increases the values at fixed rates/times and finally entering the Forex market.

 

Just my .08 cents worth.

 

The best things in life RV.

 

yak

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2 hours ago, Floridian said:

 

That’s what they’ve been saying for years -

“delete the zeros from the currency”.  

I cannot help but read this in the same way. However, I've often heard from some on this site that this was an "inside Iraq only project" and all notes outside Iraq (like the ones we hold) would retain their face value. At 1 to 1,for instance, 25,000 IQD = 25,000 dollars. 

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3 hours ago, Mary B said:

[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."

 

I can't help but think there might be a translation issue here?  Making a 1,000 dinar bill to a 1 dinar bill is not what we're looking for. 

Isn't that devaluing the currency even more?  (dare I say a LOP)  

Maybe it's a timing thing..  they make the dinar 1:1 with the USD and then over time drop the zeros?   Or, they drop the zeros first and then make the dinar 1:1...  that would make our 25k's just enough to buy a extra large pizza.   I certainly don't want to believe that. 

I think we need a little more clarification on this conjunction junction translation malfunction. 🙄

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Keep something in mind. The value of the Dinar cannot be different outside of Iraq than it is inside.

if we all make it rich out here and in Iraq the people don't,  there would be hell to pay.

 

The value of the Dinar must be treated equally everywhere.

 

 

IMHO

 The best things in life RV

 

yak

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I remember, a couple of years ago, reading that an “unknown buyer” bought $40 Million worth of Dinar.  That tells me that someone knows something,  or they wouldn’t have spent that money on worthless Currency.   So I think we will profit  (No LOP)  but I just don’t know how much. However, I think we’re going to find out real soon with all the news that’s coming out.  

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19 minutes ago, HeyJonesy said:

 

I can't help but think there might be a translation issue here?  Making a 1,000 dinar bill to a 1 dinar bill is not what we're looking for. 

Isn't that devaluing the currency even more?  (dare I say a LOP)  

Maybe it's a timing thing..  they make the dinar 1:1 with the USD and then over time drop the zeros?   Or, they drop the zeros first and then make the dinar 1:1...  that would make our 25k's just enough to buy a extra large pizza.   I certainly don't want to believe that. 

I think we need a little more clarification on this conjunction junction translation malfunction. 🙄

 

This is from April of this year.  The article above states they attempted in 2014, well actually it was in 2012 under Shabibi.  Misinformation!

 

  I was looking at delete the zero articles and especially for the official 2012 SIGIR report to the US Congress and I found this: 

 

official exchange rate for Iraqi dinar strengthened marginally against the U.S. dollar, selling at 1,166 per dollar through much of the quarter. That rate is down slightly from 1,170—a level that had held constant for the past three years. However, a spike in demand for dollars generated by merchants from neighboring Iran and Syria—suddenly unable to procure sufficient amounts of the U.S. currency at home because of international sanctions—helped drive the unofficial street exchange rate above 1,320 dinar in mid-April.375 In April 2012, the COM postponed indefinitely plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and required the issuance of new currency notes. The reform would have made the dinar’s value slightly less than $1. It is currently worth less than one tenth of a cent.  376

 

pg 94 of 158

 

http://psm.du.edu/media/documents/us_research_and_oversight/sigir/quarterly_reports_eng/us_sigir__report_to_congress_april_2012.pdf

 

 

Reason I was looking for this report is to compare the differences in the economy in 2012 as to present day in Iraq and what would have stopped currency reform at that time.

Edited by Butifldrm
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2 hours ago, Floridian said:

 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. 

 

Your not!

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I remember the article, but I am also aware that the value of the Dinar was dictated by Saddam and was an arbitrary

value based somewhat on what surrounding countries currencies were at , at the time. I don't believe the Iraqi Dinar

back then was properly traded against a basket of other countries currencies. Saddam just thought it was worth that much

and other countries sort of went along with it. I know that the value of the Kuwaiti Dinar and the currency of Saudia Arabia

were both up in that level and that the Iraqi Dinar was around $3.21.

 That said....The value of the Iraqi Dinar is WAY undervalued, and the real question and debate is do we profit  from how

Iraq restructures it's currency.

 

I see a lot of people saying they are invested in the future prosperity of Iraq, by owning Iraqi Dinars.

 

And I ask this question... Who do you think is going to pay for all those riches you are hoping for when The Iraqi Dinar

goes up in value. ? It will in the end come from the country of Iraq.

 

Do I want my slice of the pie ? your darn right I do, but I need to remain pragmatic and use common sense as to how it

affects other people and countries, and how that might effect my return on investment.

 

The best things in life RV

 

yak

 

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36 minutes ago, pontiyak said:

 

That said, Mr. Montana has postulated a dinar worth .10 ( ten cents), to start.

 If we get some sort of combobulated RD/RV and end up at ten cents I would be happy.

I have never accepted this theory simply because a printed 1 dinar note would be worth 10 cents? it would cost too much not only to print the note. But still there would be resistance to using a note of such small value. To be a real international player you must have a currency structure like the USD or the Euro. 

IMO

36 minutes ago, pontiyak said:

 

 

 

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