worried about the dominattion re-issue

[hspotman]

Everyone that posts here is obviously stating their opinions, all-be-it many have merit. I have tried doing some research today on the computer as to what the Kuwaiti dinar did post war, and one of the links that I clicked on was mentioning how the Iraqi Dinar would reissue currency, which was stated many times here in these boards. But I also understood that the larger notes "may" have no value once re-issueing takes place. I may have understood this wrong, as I have a pretty big case of ADD, and the page may have been just one person's opinion, but here is the page- http://www.mosler.org/wwwboard/messages/1820.shtml .

Some here say that we will have time to trade in our larger notes for smaller ones once the re-issueing takes place, and there were many time frames given. The re-issueing may take place pre or post RV, so I am wondering if it takes place pre RV, would we "have to" exchange or larger notes for smaller ones so that we can wait for our desired RV? Will banks here in the US honor the larger notes after re-issueing takes place, once deciding to exchange IQD(which most banks now do not yet)?

I "am" paying attention to this site for news every day, many times a day to keep up on what's happening with everything having to do with the IQD. But I do not want to get caught with my pants down here. All my notes are 25,000 notes, and there is too much that can go wrong through the mail if you have to exchange dominations that way.....in fact, I don't trust mail order anythings. It was a stretch for me to get the IQD, and this site only deals with 25,000 notes...uncirculated all-be-it.

I'm sure many of you here are worried about this as well, but I guess we won't know anything until it happens?

[letsroll]

Everyone that posts here is obviously stating their opinions, all-be-it many have merit. I have tried doing some research today on the computer as to what the Kuwaiti dinar did post war, and one of the links that I clicked on was mentioning how the Iraqi Dinar would reissue currency, which was stated many times here in these boards. But I also understood that the larger notes "may" have no value once re-issueing takes place. I may have understood this wrong, as I have a pretty big case of ADD, and the page may have been just one person's opinion, but here is the page- http://www.mosler.org/wwwboard/messages/1820.shtml .

Some here say that we will have time to trade in our larger notes for smaller ones once the re-issueing takes place, and there were many time frames given. The re-issueing may take place pre or post RV, so I am wondering if it takes place pre RV, would we "have to" exchange or larger notes for smaller ones so that we can wait for our desired RV? Will banks here in the US honor the larger notes after re-issueing takes place, once deciding to exchange IQD(which most banks now do not yet)?

I "am" paying attention to this site for news every day, many times a day to keep up on what's happening with everything having to do with the IQD. But I do not want to get caught with my pants down here. All my notes are 25,000 notes, and there is too much that can go wrong through the mail if you have to exchange dominations that way.....in fact, I don't trust mail order anythings. It was a stretch for me to get the IQD, and this site only deals with 25,000 notes...uncirculated all-be-it.

I'm sure many of you here are worried about this as well, but I guess we won't know anything until it happens?

I hear your concerns , I think we will never have the answer to what you / we need to be at ease completely with this venture .

If we did De La Rue would have to print more IQD to keep up with the demand , to me this is a risk for sure but I think you can sell your dinar to dealers even still .

This will never feel like a for sure thing in my mind ,way to much speculation & uncertainties for that IMO, I don't have that many dinars on the hook and I've lost way more in my 401 & other market investments last year than this will ever be to me that being said I'm rid'n it out and planning for the future .... please post up the answer if you get it ......... take care

[Kr3W]

It's not possible to just say the larger notes have no value. If the U.S. got rid of the $100 bills they would still be worth $100 for as long as somebody had possession of them. If they re-denominated then an RV would still happen but all we would have to do is just exchange ours for the new or just exchange ours for USD again after it RV's. They can't just declare a valid bank note void.

[keepmwlknfny]

Our bills that we carry now will never be worthless....they have to honor the bills that they print no matter what....if you read about what happened in kuwait you would see that when they changed the currency, they let people exchange the old bills for the new bills (1 for 1) and they reinstated the dinar back to previous heights.....its the same thing that could happen with Iraq.....when Iraq first changed the currency from the saddam notes to the bills we have now they let them exchange the bills 1 for 1 as well....so if things follow the same path we should have nothing to worry bout.....worst case senerio, they redenominate in a bad way and we might only double our original investment or break even but that is very unlikely....bottom line though is that our bills we hold now will NEVER be worthless....its not going to go down like that.......

[jimanita]

It's not possible to just say the larger notes have no value. If the U.S. got rid of the $100 bills they would still be worth $100 for as long as somebody had possession of them. If they re-denominated then an RV would still happen but all we would have to do is just exchange ours for the new or just exchange ours for USD again after it RV's. They can't just declare a valid bank note void.

once the RV happens most large bills will be destroyed, but they will still kepp some for banking purposes, like our $1000 ... yes they are out there but banks use them for transactions ( not as much as they use to though )

The $1000 bill featured Grover Cleveland on the front and the words "One Thousand Dollars" on the back. It was printed as a small-size Federal Reserve Note in 1928, 1934 and 1934A, and a small-size Gold Certificate in 1928 and 1934. As of May 30, 2009 (2009 -05-30)[update], there are 165,372 $1,000 bills still being used.[2]

There were also $5,000, $10,000 & $100,000 notes all of which are now out of circulation EXCEPT the $1,000 note

Edited September 21, 2010 by jimanita

[letsroll]

Our bills that we carry now will never be worthless....they have to honor the bills that they print no matter what....if you read about what happened in kuwait you would see that when they changed the currency, they let people exchange the old bills for the new bills (1 for 1) and they reinstated the dinar back to previous heights.....its the same thing that could happen with Iraq.....when Iraq first changed the currency from the saddam notes to the bills we have now they let them exchange the bills 1 for 1 as well....so if things follow the same path we should have nothing to worry bout.....worst case senerio, they re-denominate in a bad way and we might only double our original investment or break even but that is very unlikely....bottom line though is that our bills we hold now will NEVER be worthless....its not going to go down like that.......

so would that be a "in country" re-denominate,,,,how would that work for the single investor in a foreign land ?

[Kr3W]

once the RV happens most large bills will be destroyed, but they will still kepp some for banking purposes, like our $1000 ... yes they are out there but banks use them for transactions ( not as much as they use to though )

The $1000 bill featured Grover Cleveland on the front and the words "One Thousand Dollars" on the back. It was printed as a small-size Federal Reserve Note in 1928, 1934 and 1934A, and a small-size Gold Certificate in 1928 and 1934. As of May 30, 2009 (2009 -05-30)[update], there are 165,372 $1,000 bills still being used.[2]

There were also $5,000, $10,000 & $100,000 notes all of which are now out of circulation EXCEPT the $1,000 note

Yeah lol that's exactly what i said. As long as i kept on to a 25,000 note it would be worth what it's worth, they can't just say it's worthless.

[keepmwlknfny]

so would that be a "in country" re-denominate,,,,how would that work for the single investor in a foreign land ?

It depends on how this plays out.....it could be that they raise the value at the same time which then everyone outside the country could just exchange back for US dollars....if they release the bills and dont raise the value forcing us to exchange as well and hold on till it does rise, well then Ali has stated he will have access to the newer denominations and will exchange them for us or it could be possible to go to any US bank to get them....there really isent a way to know 100% right now how its going to work but most likely we should be able to just exchange our bills at that point for US dollars and those that wanna stay in the game (NOT ME LOL) can exchange for the new currency.....everyone just needs to keep their fingers crossed that if we do end up having to eachange that we can get them 1 for 1!!!!!

[cleaner100]

DID YOU READ WHERE THEY WERE THINKING OF TRADING IN THE DINARS FOR CHOCOLATE BARS INSTEAD OF DOLLARS? HUH? WELL , YA JUST DID! LOL. HA HA HA.

LIGHTEN UP GUYS! THIS COULD BE CONSIDERED RISK CAPITOL AFTER ALL, CONSIDERING HOW ABSOLUTLEY CHAOTIC IS HAS BEEN OVER THERE JUST TRYING TO FORM THE GOV AS OF LATE. I MEAN REALLY, WHAT WOULD KEEP THEM FROM COMING OUT AND SAYING, " SORRY, WE WILL NOT BE HONORING ANYONES DINARS; WE ARE COMING OUT WITH A NEW CURRENCY BUT WE WOULD LIKE TO SEND YOU ALL A $25 COUPON FOR ONE OF OUR NEW AND BEAUTIFUL 5-STAR HOTELS FOR THE NEXT TIME YOU ARE IN OUR AREA. AND DON'T FORGET THAT WEDNESDAYS IN THE BAHGDAD BUFFET IS FAMILY NIGHT WHERE KIDS UNDER 2 EAT FREE AND YOU AND YOUR PARENTS ONLY PAY $29.99!"

JUST SAYING....

[muchodinaro]

DID YOU READ WHERE THEY WERE THINKING OF TRADING IN THE DINARS FOR CHOCOLATE BARS INSTEAD OF DOLLARS? HUH? WELL , YA JUST DID! LOL. HA HA HA.

LIGHTEN UP GUYS! THIS COULD BE CONSIDERED RISK CAPITOL AFTER ALL, CONSIDERING HOW ABSOLUTLEY CHAOTIC IS HAS BEEN OVER THERE JUST TRYING TO FORM THE GOV AS OF LATE. I MEAN REALLY, WHAT WOULD KEEP THEM FROM COMING OUT AND SAYING, " SORRY, WE WILL NOT BE HONORING ANYONES DINARS; WE ARE COMING OUT WITH A NEW CURRENCY BUT WE WOULD LIKE TO SEND YOU ALL A $25 COUPON FOR ONE OF OUR NEW AND BEAUTIFUL 5-STAR HOTELS FOR THE NEXT TIME YOU ARE IN OUR AREA. AND DON'T FORGET THAT WEDNESDAYS IN THE BAHGDAD BUFFET IS FAMILY NIGHT WHERE KIDS UNDER 2 EAT FREE AND YOU AND YOUR PARENTS ONLY PAY $29.99!"

JUST SAYING....

Let's see. Iraq wants to attract other countries to do business with them, because they are sitting on a wealth of resources besides oil. So they get lifted from chapter 7, their debts are forgiven, and so now they decide to screw everyone, ( not to mention countries ) by not honoring the dinars. That is a great way to do business! Get real!