RE: Large Currency Exchange

[On_Reserve]

This question is regarding the conversation surrounding the possibility of having 90 days in which to 'cash in' large denominations in order for the CBI to remove them from circulation simultaneous to RV and or distribution of smaller denominations. Question: How or why would this affect me and the dinar that I have in hand? Couldn't I just exchange large denoms for smaller denoms with Ali or my local bank and then hold that in case I perceive that an initial RV rate will go up?

Thanks,

[JugDawg1]

This question is regarding the conversation surrounding the possibility of having 90 days in which to 'cash in' large denominations in order for the CBI to remove them from circulation simultaneous to RV and or distribution of smaller denominations. Question: How or why would this affect me and the dinar that I have in hand? Couldn't I just exchange large denoms for smaller denoms with Ali or my local bank and then hold that in case I perceive that an initial RV rate will go up?

Thanks,

At this point in time, I'm pretty sure Ali doesn't sell the smaller denoms. I'm not sure if anybody in the states does. Someone else will have to handle that one for you.

[00castle]

Sure you can.

[keepmwlknfny]

This question is regarding the conversation surrounding the possibility of having 90 days in which to 'cash in' large denominations in order for the CBI to remove them from circulation simultaneous to RV and or distribution of smaller denominations. Question: How or why would this affect me and the dinar that I have in hand? Couldn't I just exchange large denoms for smaller denoms with Ali or my local bank and then hold that in case I perceive that an initial RV rate will go up?

Thanks,

Thats a possibility.....but it depends on how quickly Ali could get his hands on the smaller denoms....same scenerio with the bank....not to mention if there is a RV with a redenomination you might not be able to do that....you might be stuck with exchanging your larger bills at a fraction of the face value for the newer lower denoms.....its all going to depend on Iraq and how they want to handle the process....its in their hands...no one knows how its going to work out...we still dont know if there will be a straight up RV or if they will redenominate without raising the value of the dinar which in that case we are stuck and will probly only break even on our original investment......just going to have to wait and see how things play out before you can make any decisions regarding exchanging for lower denoms and waiting for a higher rate....as far as me...anything over 50 cents and im outta here!!! STAY THIRSTY!!!

[dlbfilm]

Yep thats right, as of now is anyones best guess.....

[harry2299]

I `M WITH YOU KEEPM, I WOULD CASH ALL OUT AT 50CENTS AND NOT LOOK BACK.

[madmanak47]

Thats a possibility.....but it depends on how quickly Ali could get his hands on the smaller denoms....same scenerio with the bank....not to mention if there is a RV with a redenomination you might not be able to do that....you might be stuck with exchanging your larger bills at a fraction of the face value for the newer lower denoms.....its all going to depend on Iraq and how they want to handle the process....its in their hands...no one knows how its going to work out...we still dont know if there will be a straight up RV or if they will redenominate without raising the value of the dinar which in that case we are stuck and will probly only break even on our original investment......just going to have to wait and see how things play out before you can make any decisions regarding exchanging for lower denoms and waiting for a higher rate....as far as me...anything over 50 cents and im outta here!!! STAY THIRSTY!!!

Brother I'll take .35 cents and beat you to the back door.

Madman Out

[Jac]

According to Ali there will be no time limit in cashing in your large denomination notes. Call him and I am certain he will

tell you this himself. There is no reason to worry about this.

[WBC]

I have seen this question go round and around, and I certainly have no background that would help me to understand this issue, however;

Why is it required to do away with the 25,000, 10,000, or 5,000 notes in a time frame?

When the dinar rv's , spending these notes will be hard for the average transaction.

Please:::: I am pulling this number out of thin air for example only!!!

If it RV's at 1 dinar = 1 USD then:

A 25,000 dinar note becomes worth $ 25,000 usd. You would not carry this around for everyday purchases unless you like new cars a lot. So you would turn this into the bank for more usable currency for everyday uses. Some times a $ 100.00 bill is hard to spend unless broken down into smaller denominations.

Our currency still includes $ 1,000.00 bills. You don't see them, they are not printed any more (that I know of), but you can take then to the bank and get it changed to smaller currency (or go to a collector for more). It it still a usable currency, just not convienient.

This version has been put forward in this forum many times and I see that it makes sense.

JMO

WBC

[Texan49]

Thats a possibility.....but it depends on how quickly Ali could get his hands on the smaller denoms....same scenerio with the bank....not to mention if there is a RV with a redenomination you might not be able to do that....you might be stuck with exchanging your larger bills at a fraction of the face value for the newer lower denoms.....its all going to depend on Iraq and how they want to handle the process....its in their hands...no one knows how its going to work out...we still dont know if there will be a straight up RV or if they will redenominate without raising the value of the dinar which in that case we are stuck and will probly only break even on our original investment......just going to have to wait and see how things play out before you can make any decisions regarding exchanging for lower denoms and waiting for a higher rate....as far as me...anything over 50 cents and im outta here!!! STAY THIRSTY!!!

I'm right in line with you anything over 50 cents and I'm out as well. Oh yes and always stay thirsty...

[Puff]

It's going to be over a dollar for me....I might cash in a little at .50 but not much..it is all the way are bust...