We Were Told ...

[LittleMissGrits]

Give me some feedback here ... and not a lot of raggin' for bringing this up!

1. We were told some time ago that the small denoms and the large ones would exist side by side as the RV was implemented

2. Several rumors and chats are now saying this is happening, and we should be very happy, right?

3. We are being told that the large 000 notes are becoming scarce

4. Rumors also abound that IQD is to be kept in country whether large or small denoms

My questions:

1. Did we as dinar holders make a quantum leap that when small and large denoms were "side by side" that that would only occur ALONG WITH the RV (We are NOT seeing this happen)

2. We are apparently seeing large denoms removed WITHOUT an RV, and most of us do not have the option of exchanging them for lower denoms, right?

3. Did we so want this RV to happen that we did not see the POSSIBILITY that removing the 000's as Shabibi has discussed would be for Iraqi's for the most part, and that the 000's might then no longer be legal tender? I know, I know, you will say what about govt's??? Although governments may have the actual dinar in vaults, they will be able to use them electronically in a way that may not be afforded folks like you and me IF indeed the large denoms are no longer consider official currency. Govt's supposedly were never going to the bank to cash in.

4. The advantage to Iraqi's in an RV will be greater buying power, not to become wealthy by exchanging dinar for dinar, so it does not matter whether they have a large bill or small bills ... they could easily use large bills for big ticket items and small ones for groceries and clothes, etc. ... which leads me to at least CONSIDER that seeing large and small denoms used side by side, removing the 000's from circulation and NO RV means they plan on retiring the large notes altogether and forever and THEN doing the RV.

5. The Iraqi's would have their increased buying power, the IQD would have international status with a respectable rate, and what we hold in our grubby little fingers would cost Iraq NOTHING, because all those large bills that BoA now displays in their currency book would have stamped across them in bold print ... DO NOT EXCHANGE!!! I have seen that on other currencies in their little book! What think ye?

[LazySusan]

LMG - as always seeker of truth. You have always been a skeptic, and no one could convince you otherwise. Your scenario above COULD be true, and so could MANY other scenarios that other's believe, myself included. It's good to see you on the boards. Happy New Year!

[detroitjazzman]

Here's my take on this...you go to the store and buy what you need. they total up your purchase and you give them a 25,000 note. they give you your change in small notes and remove the 25K note from circulation. As the value of the dinar goes up there is less need to have a armored car follow you to the grocer to buy a loaf of bread...

Edited January 6, 2011 by detroitjazzman

[Darin]

If they were to do away with the 25k note, I am sure they would simply remove it from circulation.

If other foreign Governments were sitting on a large stack of 25k notes, I am sure they would want the physical notes themselves..

Why? To destroy the notes.. Because it could be feasible to send them back into the Iraqi population for circulation. --

And if they were going to remove them/destroy them, I am sure we will all hear about it, because the Iraqi people would need to know about it or they would be losing money.

If & when that is the case, we may be looking to attempt to exchange for lower denominations.. Makes the process for Iraq pointless because eveyrone holding big notes will take the effort to exchange for lower denomination notes. Doesn't really solve their problem.

There would have to be a law set in place by either the Iraqi Government, or any other outside law where a notice is posted of this given situation. In other words, we will hear about it prior to it becoming something they can do. I doubt we wake up one and find out that the $25k is now useless...

Also, if they were to remove the $25k note, I am sure they would feel the need to do the same for the 10k & 5k..

So if we took our bills and exchanged them for 500 notes, those currencies would still have value and could be exchanged.

I just don't see this being something really to fear... If something like this were to happen, I am sure we would hear about it with enough time to make necessary changes.

[freaky frank]

Personally I do not believe that iraq can discontinue the large denoms, like you said without giving all people involved a chance to cash in or exchange before they do this. one thing that I am not clear on is if the GOI is exchanging the larger bills for lower bills what is the difference the people will still have the same amount of dinars after RV, Now if the GOI is exchanging large denoms for US Dollers, this would put money in the GOI pockets. This would be more on the line of the corrupt gov that was once around when Saddam was in power, this would certainly be unhealthy for th people of Iraq to know that there gov has swindled them from some great wealth. Right now its pretty much anybodies guess . theres no sence in wasting energy trying to figure out , we are all invested in this thing, lets just wait and see how it all pans out........

[hopefullbk]

If in fact there is truth to the talk that many countries hold dinar in their reserves, I just cant imagine that they would have it in physical form. I just think as much as they are said to hold, they would have to have huge warehouses full of crates of dinar. Highly unlikely in my opinion. I've always had some reservations about this point. IF its true, I would think those countries would hold their dinar in electronic form, eliminating any concern they would have regarding hard currency changes, they simply have credits that would change in value.

Who knows right?

[LittleMissGrits]

Here's my take on this...you go to the store and buy what you need. they total up your purchase and you give them a 25,000 note. they give you your change in small notes and remove the 25K note from circulation. As the value of the dinar goes up there is less need to have a armored car follow you to the grocer to buy a loaf of bread...

The armored car theory would be fine if you were talking about a loooong haul. Supposedly Iraq's are miffed about the large number of small denoms they are having to carry, but this will be short-lived. My thinking is the large notes will soon be called in with a time limit, while the IQD value staysat 1170. AFTER the deadline, which we can do nothing about unless you are invested in an Iraqi bank, the RV will occur and the Iraqi's will then see why they had a bit of inconvenience with the small bills!!!

[Kandi77]

There is still no proof of the Small Denoms (1, 5, 10, 20, etc) being used, they may be using smaller denoms (50, 250, 500, etc.) but not the "Small" ones...yet. It sounds like they have started phasing out the large denoms, but I don't think we're quite "there" yet. When we see the 1, 5, 10 etc. then we should be seeing something move. IMHO

[Jim1cor13]

Give me some feedback here ... and not a lot of raggin' for bringing this up!

1. We were told some time ago that the small denoms and the large ones would exist side by side as the RV was implemented

2. Several rumors and chats are now saying this is happening, and we should be very happy, right?

3. We are being told that the large 000 notes are becoming scarce

4. Rumors also abound that IQD is to be kept in country whether large or small denoms

My questions:

1. Did we as dinar holders make a quantum leap that when small and large denoms were "side by side" that that would only occur ALONG WITH the RV (We are NOT seeing this happen)

2. We are apparently seeing large denoms removed WITHOUT an RV, and most of us do not have the option of exchanging them for lower denoms, right?

3. Did we so want this RV to happen that we did not see the POSSIBILITY that removing the 000's as Shabibi has discussed would be for Iraqi's for the most part, and that the 000's might then no longer be legal tender? I know, I know, you will say what about govt's??? Although governments may have the actual dinar in vaults, they will be able to use them electronically in a way that may not be afforded folks like you and me IF indeed the large denoms are no longer consider official currency. Govt's supposedly were never going to the bank to cash in.

4. The advantage to Iraqi's in an RV will be greater buying power, not to become wealthy by exchanging dinar for dinar, so it does not matter whether they have a large bill or small bills ... they could easily use large bills for big ticket items and small ones for groceries and clothes, etc. ... which leads me to at least CONSIDER that seeing large and small denoms used side by side, removing the 000's from circulation and NO RV means they plan on retiring the large notes altogether and forever and THEN doing the RV.

5. The Iraqi's would have their increased buying power, the IQD would have international status with a respectable rate, and what we hold in our grubby little fingers would cost Iraq NOTHING, because all those large bills that BoA now displays in their currency book would have stamped across them in bold print ... DO NOT EXCHANGE!!! I have seen that on other currencies in their little book! What think ye?

Thank for the good questions LittleMissGrits All reasonable.

Most of us know what we would like to see happen, but we also need to recognize

the potential for this speculation to not turn out the way we had all assumed. Having said that,

your questions are valid concerns and just another reminder that we have a ways to go,

it matters little on what intel we read or hear although some of it can be helpful. It carries with it

NO guarantee which I think we all are seeing to be obvious and what we have no control over

is really where the patience of this investment is needed.

Nothing we can do or say at this time is going to make a thing happen before it is supposed to.

Iraq must do what is best for Iraq. Those of us who are involved in the speculative side can only

continue to wait, learn, and stay informed as best as possible and realize in reality, that Iraq

is not sitting around concerning themselves with anyone invested in their Dinar. it is not about us,

it is about them, and we hope to benefit from their slowly coming out of bondage and hopefully

into a time of much better circumstances and a healthy active economy.

This has a long way to go to be realized...yet so much progress has been made that cannot be denied.

Thanks for sharing your concerns, they are valid, and so is the flip side that this will all eventually

work out and we will slowly have answers that help us better to understand what remains to be

accomplished. Those answers can only come from Iraq as they begin the process of climbing

out of a long depressed and war torn state and into a more free economy with a recognized healthy currency

backed by a very impressive store of natural wealth and potential.

This plays a big part as to why I believe this investment will pay off eventually. They have the ability to have a very

strong and viable currency that is actually backed by their valuable resources as opposed to being backed by

nothing more than the ink and paper it is printed on such as the current USDollar.

Best wishes to you!

Jim

---

[Nani?]

Look people there are no $5000 bills in the US but if you had one then you could still trade it for its worth... provided they ever exsisted. Anyway it will be the same way with iraq... I'm pretty sure some idiots there will convince themselves there was a lop and never even attempt to trade them or maybe will set them on fire lol

[LittleMissGrits]

WOW, IT IS PRETTY SCARY TO GO THROUGH LIFE WITHOUT NOTHING TO BELIEVE IN ISNT IT?

FAITH IN SOMETHING GREATER THAN YOURSELF WILL PUT YOUR MIND AT EASE, NO MATER HOW THIS TURNS OUT. ALL BE IT WILL TURN OUT AS GOD HAS INTENDED ALL ALONG. CONSIDER WHAT YOU JUST READ WHEN YOU CASH IN.

So, brother, why would you assume from what I have written here that I am living in fear and going through life with nothing to believe in? These are very legitimate questions in the midst of a great deal of hype, none of which has panned out yet in our favor. I have not lost a minute of sleep over this thing and do not plan to start doing so now.

[quadraph0nic]

Give me some feedback here ... and not a lot of raggin' for bringing this up!

1. We were told some time ago...

yep stop right there. we were told a lot of things...

hahahaha :lol:

Keep an open mind to how this could play out but we just have to be patient and let it unfold. Yesterday the denial of the 100,000 note was good news because a new denomination would only increase their money supply and IMHO take us down the path we don't want to go. The rumor everyone is talking about now is that they are removing currency the three 000 from circulation thus addressing their money supply issue. check cbi website under statistcs key financials to see the issue..

The idea that they would give us a time frame or not, to turn in the large denominations obviously has yet to be determined but as pointed out earlier today if you look at the larger US dollar denominations, they are still legal tender and still are being removed from circulation (not many). So if you think about it, they also exist today with the smaller denomination. Fat chance on getting your hands on a 10,000 note though. heh

Anyway, these are just possibilities/speculation.

Never stop looking for answers

Edited January 6, 2011 by quadraph0nic

[johnfagan]

LittleMissGrits...You kick A#$%S !!!!!!

[leola]

YOU WILL NOT SEE SMALL BILLS UNTIL ALL 000, BILLS HAVE BEEN RECOVERED,,PROBABLY AT 1170,PER DOLLAR.....IT LOOKS LIKE IRAQ WILL PAY AT 1170,THAT IS WHY THEY FROZE IT TWO YRS AGO. THERE HAS BEEN A PLAN IN PLACE THE HOLE TIME,,,,WE WERE NOT PRIVY TO IT.....IT SEEMS TO BE UNFOLDING BEFORE OUR EYES,,,,,REDEEM YOUR BILLS FOR SMALL DENOMS IF YOU CAN,,,,JUST LIKE THE ARAQIS....

[Soldiering4U]

leola like the post, just wondering if anyone knows how to redeem your larger bills for smaller ones...

[DgreenFSU66]

Hey Grits! How bout them Noles???

I think that if the 25K notes were to become worthless, then a press release would be made to the Iraqi citizens and it would be in the papers and on Iraqi TV. we would get wind of it. I think this is just the beginning, give it a few more days/weeks and see how it plays out. Im not sweating the small stuff.

D.Green

[leola]

SO;DIERINGFORU.....YOU MIGHT CHECK OUT CITI BANK,,,THEY SEEM TO HAVE AN INTEREST IN WARKA BANK ????????

[LittleMissGrits]

Hey Grits! How bout them Noles???

I think that if the 25K notes were to become worthless, then a press release would be made to the Iraqi citizens and it would be in the papers and on Iraqi TV. we would get wind of it. I think this is just the beginning, give it a few more days/weeks and see how it plays out. Im not sweating the small stuff.

D.Green

Yeah ... was more fun to follow the Nolies this year, eh?

If the large notes become worthless, no doubt there will be a press release, and we will get wind of it rather quickly. We just won't be able to do anything about it regarless of when it occurs. My guess is that if you had a couple mil in the large notes, Ali would be hard pressed to exchange them for 50's, even if you wanted them and were willing to pay what most likely woiuld be a healthy sum. Anyone out there know about that or has tried it?

[stevehartley]

DOUBT, FEAR, MAYBE THE WRONG WORD HERE, LETS JUST SAY THAT WHAT IS GOING ON IN IRAQ IS THE WILL OF GOD AND THAT IS CLEARLY POINTED OUT IN HIS WORD. THEREFOR, WE HAVE NO FEAR, NO DOUBT, WE SIMPLY WAIT FOR THE LORDS TIMING IN ALL THIS. I WOULD DIRECT YOU TO THIS POST AS YOUR NEXT QUESTION WILL BE WHERE IN GODS WORD DOES IT SAY THAT,.................

WITH OUR FATHERS LOVE

MY SISTER

i just read your Christmas story and it reconfirmed my faith in knowing "this is from God" ! (Dinar investment)

[Anita]

"because all those large bills that BoA now displays in their currency book" Maybe a misunderstanding but did you actually saw those large bills displayed in BoA currency book? is it on the website?

I have looked but I don't see any iraqi currency displayed.......thanks