"Fred" Posted December 8, 2018 Report Share Posted December 8, 2018 58 minutes ago, 6ly410 said: Again.. lower notes are coming ... imo no more US dollar trading with Iran.... the initiative started...... worlwide ... globally..... digits being added .... I am done for now haha Go easy on the champagne tonight, we don’t need you waking up with a headache 😀 1 2 1 Quote Link to comment Share on other sites More sharing options...
Calijim Posted December 8, 2018 Report Share Posted December 8, 2018 Could another reason for lower denominations be to cut down on currency smuggling?. Seems to have worked in the US or at least made it much more difficult for smuggling as the 1000 dollar notes were removed from circulation and made large amounts of dollars in cash much more bulky. 1 3 Quote Link to comment Share on other sites More sharing options...
DoD Posted December 8, 2018 Report Share Posted December 8, 2018 2 hours ago, Floridian said: Well, this has me thoroughly confused . Why issue new triple-zero notes if the plan is to drop the zeros? Floridian, read my previous post, there are no 250, 500 Dinar notes on the streets. The cab drivers an vendors can not make change for the 10k, 25k Dinar notes people are paying with. These articles have been in the news for months, they are finally getting them issued. Nothing to get excited about here... 1 1 5 Quote Link to comment Share on other sites More sharing options...
Calijim Posted December 8, 2018 Report Share Posted December 8, 2018 Imagine having to transport large amounts in the lower denominations. You would have to forget about a truckload and find some rail cars. Would force large transactions to be done through electronic means through the banks where it can be tracked by the cbi. 1 Quote Link to comment Share on other sites More sharing options...
jmartin1145 Posted December 9, 2018 Report Share Posted December 9, 2018 4 hours ago, DoD said: Agreed Laid Back, all their doing is replacing the worn out notes on the street. As previous articles has stated there are none of these notes on the streets an they need them. That because I own most of them. 1 3 Quote Link to comment Share on other sites More sharing options...
unirod Posted December 9, 2018 Report Share Posted December 9, 2018 8 hours ago, Laid Back said: If this article is true, and a new 500 & 250 IQD notes are coming out to the local market, it means the RV will take longer. Why 500 & 250 IQD notes instead of 1-5-10-20-50-100 IQD notes? Just my humble opinion. What struck my curiosity was that Mexico has come out with a 200 Peso note. Which when exchanged has the value of approx $10 USD. Maybe Iraq will open up the exchange rate at 10 to 1 USD? which would make our 25,000 IQD note worth about $2,500.00 USD. And so on with the 1,000, 500 and 250 IQD notes. Still a pretty good rate of return IMO for the time I have been in the game. I recall that Breitling on a his blog once said that to be in this investment you should own at least 5 million IQD. Or go find something else to speculate on. He may be more right than he ever thought? 1 2 Quote Link to comment Share on other sites More sharing options...
unirod Posted December 9, 2018 Report Share Posted December 9, 2018 1 minute ago, Botzwana said: Being that I live in Mexico. Um, no. The 200 peso 13 years ago was twenty bucks. NOW because the dollar got alot stronger, it is 20 to one. True, But if I had a 200 Peso note. And I exchange it say at the airport. I would get $10 USD. So the same is true that we are exchanging a note that we bought at a discount here in the USA from a bank or exotic currency merchants. So our exchange will be realized at a much better rate of return than anyone who would take that same note aquired in Iraq and taken to the bank to exchange for USD in Iraq. They as citizens of Iraq will loose money every time. We are realizing a greater gain on exchange because we are outside of Iraq. We will win every time no matter what the exchange rate opens up at. Even if you live in Mexico! Quote Link to comment Share on other sites More sharing options...
bigwave Posted December 9, 2018 Report Share Posted December 9, 2018 7 hours ago, DoD said: Floridian, read my previous post, there are no 250, 500 Dinar notes on the streets. The cab drivers an vendors can not make change for the 10k, 25k Dinar notes people are paying with. These articles have been in the news for months, they are finally getting them issued. Nothing to get excited about here... Comforting DoD 1 Quote Link to comment Share on other sites More sharing options...
Markinsa Posted December 9, 2018 Report Share Posted December 9, 2018 9 hours ago, Mary B said: Iraq new 500-dinar note (B353) confirmed 21 11, 2016 06:49 B353: Like B348, but with Kurdish text on back. 500 dinars, ٢٠١٣ - ١٤٣٥ (2013/AH1435). Like CBI B48, but new date, new signature (Abdul Basit Turki Saeed), and two intaglio circles at upper left front for the sight impaired. 12/07/ 2018 08:20 Category: Middle East Like B347, but new date and printed name of governor, not signature. https://www.banknotenews.com/files/category-middle-east.php Links are finally working... Iraq new 500-dinar note (B359a) confirmed 07 12, 2018 08:20 Category: Middle East Like B353, but new date and printed name of governor, not signature. Courtesy of Nurrulz Gustiputri. Tags: Iraq Iraq new 250-dinar note (B358a) confirmed 07 12, 2018 08:20 Category: Middle East Like B347, but new date and printed name of governor, not signature. Courtesy of Nurrulz Gustiputri. News > 5 1 Quote Link to comment Share on other sites More sharing options...
justchecking123 Posted December 9, 2018 Report Share Posted December 9, 2018 10 hours ago, Laid Back said: If this article is true, and a new 500 & 250 IQD notes are coming out to the local market, it means the RV will take longer. Why 500 & 250 IQD notes instead of 1-5-10-20-50-100 IQD notes? Just my humble opinion. Exactly what I thought. Just new notes, not necessarily moving forward, etc. Lower denominations would make sense if they were indeed raising the value in terms of usage. 1 2 Quote Link to comment Share on other sites More sharing options...
cranman Posted December 9, 2018 Report Share Posted December 9, 2018 Seems like they are using the lower notes in place of, or like, fils. 500 dinar = .42, 250 dinar =.21. Helps them make change. Hmmmm. Could be awhile. I need much lower notes to be in play before I get excited. JMO. Quote Link to comment Share on other sites More sharing options...
Floridian Posted December 9, 2018 Report Share Posted December 9, 2018 4 hours ago, DoD said: Floridian, read my previous post, there are no 250, 500 Dinar notes on the streets. The cab drivers an vendors can not make change for the 10k, 25k Dinar notes people are paying with. These articles have been in the news for months, they are finally getting them issued. Nothing to get excited about here... Thanks, DoD. I didn’t realize that. It’s disappointing. 1 Quote Link to comment Share on other sites More sharing options...
3n1 Posted December 9, 2018 Report Share Posted December 9, 2018 6 minutes ago, cranman said: I need much lower notes to be in play before I get excited. JMO. exactly , when we see those ( below 250 ) the new rate will be active to use them so yea imo the 250 , 500 are to meet a current currency need ... tapping foot waiting 2 Quote Link to comment Share on other sites More sharing options...
Officiallytook Posted December 9, 2018 Report Share Posted December 9, 2018 (edited) 20 minutes ago, Botzwana said: I think when they release lower notes a rate change has to come immediately. It would be too big a tell that they are going to revalue. Exactly I'm think true rate then lower demons...all in one fell swoop...but in that order lol Edited December 9, 2018 by Officiallytook 3 Quote Link to comment Share on other sites More sharing options...
navira Posted December 9, 2018 Report Share Posted December 9, 2018 OT, I agree with u...A change of rate will come before lower denoms 4 Quote Link to comment Share on other sites More sharing options...
lmb4321 Posted December 9, 2018 Report Share Posted December 9, 2018 Question....Does the HCL have to happen before the lower notes are released?? Quote Link to comment Share on other sites More sharing options...
fancy Posted December 9, 2018 Report Share Posted December 9, 2018 13 hours ago, Officiallytook said: Kinda off topic but what you guys think about Trump, thinks they're gonna impeach em? I mean kind of would mess us over if it does happen...I'm inclined to believe It is off topic. But if you've ever heard Kim Clement Trump's not getting impeached. That's a prophets View PS don't watch CNN. 1 1 1 8 Quote Link to comment Share on other sites More sharing options...
js214 Posted December 9, 2018 Report Share Posted December 9, 2018 12 hours ago, Floridian said: Well, this has me thoroughly confused . Why issue new triple-zero notes if the plan is to drop the zeros? Perhaps because its not what they say they are going to do as much as what they ACTUALLY do? 1 Quote Link to comment Share on other sites More sharing options...
3n1 Posted December 9, 2018 Report Share Posted December 9, 2018 (edited) 2 hours ago, Botzwana said: Question is....WERE the citizens being paid by the oil proceeds WHEN the value was over 3 bucks? Was there an HCL for them back then? If not then it really does not matter IMO.. Value was lost overnight and can be replaced over night regardless of an HCL. Q1.) no payments to citizens from oil proceeds ... Q2.) no hcl that was to be established post saddam liberation. ( enter corrupt officials from top to bottom ) it has never happened as planned to date ... Q3) iqd value was in fact high officially but during the iran / iraq war , surplus state money was severely reduced to next to nothing causing the unofficial rate to be almost 2000 iqd to 1 usd , saddam invaded and stole kuwait's money in an attempt to revive iraqs economy history reads how that worked out and at that point thats where many began to watch or speculate in iqd... here is some relative economic data from 1989 - 2003 if interested.. cheers dv https://www.cia.gov/library/reports/general-reports-1/iraq_wmd_2004/chap2_annxD.html Edited December 9, 2018 by 3n1 3 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted December 9, 2018 Report Share Posted December 9, 2018 4 hours ago, Botzwana said: Question is....WERE the citizens being paid by the oil proceeds WHEN the value was over 3 bucks? Was there an HCL for them back then? If not then it really does not matter IMO.. Value was lost overnight and can be replaced over night regardless of an HCL. That is a point that I have been trying to push. One day your are a millionaire then next your fighting for camel dong. The CBI has been pulling in a ton of the large notes. So this go around there may produce a few more millionaire, but is that a bad thing after 15+ years? 6 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted December 9, 2018 Report Share Posted December 9, 2018 8 minutes ago, Botzwana said: I only asked two question which I already knew the answers too. Great Q and A, plus you needed to be over 100 for as long as you have been playing this game. 1 2 Quote Link to comment Share on other sites More sharing options...
Popular Post presence Posted December 9, 2018 Popular Post Report Share Posted December 9, 2018 There are certainly a lot of great comments from critical thinkers in this thread - thanks to everyone who posted. So, if I understand this article correctly, the 250 and 500 referenced in this article are new versions of currencies which have already been n existence. I couldn't tell for sure if the recent versions being replaced are both presently being used in the market. Regardless, the bottom line is that they (the old currency) )are presently being used minimally due to reasons of making change for higher valued currencies. As some have pointed out, there may not be a lot to be excited about - at the moment - but in my view, this might be a good sign of what's to come, especially since the newer notes probably have more secure features which would help minimize fraud and money laundering so currencies are exchanged for lengthier periods of time. The positive factual takeaway I get from this is, at least his article is not referring to the release of 100k notes or currencies of even greater amounts; which would certainly be less desirable. I like the timeliness of this article when I combine it from the news of late regarding the decimal places on the CBI website. The latter is a big deal no matter how you look at it. Combining the decimal points to the thousand's position, along with the re-release of the 250 and 500 gives me the impression that the 1's, 5's, 10's fils etc. are on their way - and hopefully soon. When I worked as a mutual fund accountant years ago, I was assigned the task of calculating the NAV (net asset value) number for some of Aetna's domestic mutual funds. The daily stress from the job felt equivalent to being pulled over by a cop - all day long. The pressure was due to the fact that our work had to be completed and ready to be published- by 5:40PM -every day - and the accuracy of our NAV calculatin had to be with-in 1/2 cent. Any error in the calculation greater than that counted as a pricing error. To minimize the chance of error, a minimum or 32 excel spreadsheets were needed to calculate an accurate number for the $100 million -$100 billion plus-sized mutual funds. The important part of all of this, is that our calculations went to a minimum of 5 decimal places - and the accuracy of all 5 decimal places had to be checked off and verified by 2 managers throughout the day - daily - before the NAV was submitted to publication in newspapers around the world. i suspect that there is a lot more going on behind the scenes with the combination of the 3 decimal places and the new.currncies mentioned above - and I am more than hopeful - that we may see this go international this month; if for nothing else, completing year end accounting analysis would be a lot simpler twhen compared to analyzing a new rate for a lengthier period of time (such as first quarter.) 5 12 1 14 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted December 9, 2018 Author Report Share Posted December 9, 2018 54 minutes ago, presence said: There are certainly a lot of great comments from critical thinkers in this thread - thanks to everyone who posted. So, if I understand this article correctly, the 250 and 500 referenced in this article are new versions of currencies which have already been n existence. I couldn't tell for sure if the recent versions being replaced are both presently being used in the market. Regardless, the bottom line is that they (the old currency) )are presently being used minimally due to reasons of making change for higher valued currencies. As some have pointed out, there may not be a lot to be excited about - at the moment - but in my view, this might be a good sign of what's to come, especially since the newer notes probably have more secure features which would help minimize fraud and money laundering so currencies are exchanged for lengthier periods of time. The positive factual takeaway I get from this is, at least his article is not referring to the release of 100k notes or currencies of even greater amounts; which would certainly be less desirable. I like the timeliness of this article when I combine it from the news of late regarding the decimal places on the CBI website. The latter is a big deal no matter how you look at it. Combining the decimal points to the thousand's position, along with the re-release of the 250 and 500 gives me the impression that the 1's, 5's, 10's fils etc. are on their way - and hopefully soon. When I worked as a mutual fund accountant years ago, I was assigned the task of calculating the NAV (net asset value) number for some of Aetna's domestic mutual funds. The daily stress from the job felt equivalent to being pulled over by a cop - all day long. The pressure was due to the fact that our work had to be completed and ready to be published- by 5:40PM -every day - and the accuracy of our NAV calculatin had to be with-in 1/2 cent. Any error in the calculation greater than that counted as a pricing error. To minimize the chance of error, a minimum or 32 excel spreadsheets were needed to calculate an accurate number for the $100 million -$100 billion plus-sized mutual funds. The important part of all of this, is that our calculations went to a minimum of 5 decimal places - and the accuracy of all 5 decimal places had to be checked off and verified by 2 managers throughout the day - daily - before the NAV was submitted to publication in newspapers around the world. i suspect that there is a lot more going on behind the scenes with the combination of the 3 decimal places and the new.currncies mentioned above - and I am more than hopeful - that we may see this go international this month; if for nothing else, completing year end accounting analysis would be a lot simpler twhen compared to analyzing a new rate for a lengthier period of time (such as first quarter.) 2 Quote Link to comment Share on other sites More sharing options...
WheresmyRV? Posted December 9, 2018 Report Share Posted December 9, 2018 Excellent post Presence thank you! 2 1 1 Quote Link to comment Share on other sites More sharing options...
jg1 Posted December 9, 2018 Report Share Posted December 9, 2018 10 hours ago, 3n1 said: exactly , when we see those ( below 250 ) the new rate will be active to use them so yea imo the 250 , 500 are to meet a current currency need ... tapping foot waiting I really don't see why people are getting so excited about these denominations. Printing these denominations just tells me it's going to be a longer wait. Why not just print the lower denoms and get it over with. Why muck around with that 250 and the 500. Thanks in advance. 2 1 1 Quote Link to comment Share on other sites More sharing options...
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