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Low Denom Notes Now Replacing Damaged Large Denoms.


Luigi1
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Urgent...this latest just in...

 

Frank26:  DELTA ……………… NOW WE CAN TALK ……………… LOOK AT SAMSON’S NEXT POST ………….. ” IT’S NOW IN PRINT ……….. EVEN MORE !!! ” ……………… FOR THE CITIZENS !!!
Samson: An economist reveals the bank’s printing of large amounts of currency with small categories to replace them with damage...

18th August, 2018...

The economic expert Majid al-Suri, on Saturday, the printing of the Central Bank of Iraq large amounts of Iraqi currency with small groups to pump it to the market and eliminate the current crisis and withdraw the damage.

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Luigi's input...

Iraqi citizens still don't trust the banks, are using their mattresses in place of the banks.

They still prefer to deal in cash. This could spell trouble for the new digital Dinar & banks.

This goes back to the Sadam days when GOI owned the banks & Sadam cleaned out the people's accounts at will.

The CBI must print new paper money to satisfy their craving to do business in cash only. IMO.

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8-19-2018   Newshound Guru Don961   Article:  “An economist reveals the bank's printing of large amounts of currency with small categories to replace them with damage”   ...from previous articles ... this will also help get more of the existing 3 zeroes out from under those mattresses ... and replace them with these smaller denominations ... because as other articles showed from the CBI ... these lower denom notes will be pushed ... in the marketplace ... and in the banks .. which will also get citizens enured to using smaller notes ... and make the transition to the RI lower denoms much more realistic psychologically ... another step ...imo 

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Ridiculous assessment, Luigi.  The average Iraqi could probably get a small bag of groceries for a 25,000 IQD note. If they truly released small notes, say a 1 IQD note now, at the current value, a citizen would need 25,000 of them to buy the same bag of groceries. Those fools musta got their economics degree from TNT University. 

                                                                                                                                                                                                          :lol:

 

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I saw in that aformentioned article in another place,that the lower 'categoties' that they are talking about are the 100,250, and 500. Dont they already have these denominations,just not being used? And havent they had these denoms for years?

Edited by hspotman
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5 hours ago, hspotman said:

I saw in that aformentioned article in another place,that the lower 'categoties' that they are talking about are the 100,250, and 500. Dont they already have these denominations,just not being used? And havent they had these denoms for years?

 

These lower denoms are still in use.

The replacement notes are probably the newer notes of the same denom with the extra security features.

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They need the lower denominations  to make change for $25,000. 25000 is roughly the equivalent of $20 and so they need to make change for the $20.

I am in South Korea at this time and they have 1000 won notes, 10000 won, notes and 50000 won notes. And they have coin in denominations of 100 and 500.

Edited by rico1
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