Kaperoni's thoughts #10 - 2011 RV Status

[Niko]

Interesting read,fingers crossed from DD

Kaperoni:This is an article that came out today…there is an audio clip that goes with it that when translated, gives us some real insight to where we are in regard to the upcoming RV…the actual process that is taking place. My Arabic speaking friends comments are below…

LINK

Coins and paper in small groups facing the risk of “extinction” in Iraq

Receded handle coins and paper in small groups in Iraq, even by young children to the decline in value of material and high rates of inflation.

Mahmoud Almksusi Chairman of the Economic Development Committee in the provincial council in Basra, says that the reason for the extinction of the coin is made in the currency inflation, while citizens from carrying ashamed of these currencies, calling for the central bank to cancel.

More details with Mohammed Al Jabri:

Audio

http://www.radiodijl...files/amlaa.mp3

Okay listened to the audio clip, and it is very interesting.

But it is showing that people are ready for a change in the currency

Basically, it talks about how large denominations have been scarce in availability over the past few months in Iraq.

And that all the banks and atms, etc. have been carrying mostly the lower denominations note that are currently out on the CBI site (50, 250, 500, etc.).

But the problem is, since the dinar has so little purchasing power, the large bills are needed for transactions.

So since prices are high, if something is 15,000 Dinars

And the bank is handing out 250 Dinar bills or whatever

Then you have to carry around a huge stack of the lower bills

To even be able to buy regular stuff

So the clip goes on to say that the people are ashamed of the currency

Because it is embarrassing to have to carry around all these little bills.

And they have no purchasing power whatsoever.

They go on to complain that the smaller denomination coins are also being handed out by banks.

But since you would need a whole gallon size zip lock bag to even buy something small with the coins

That no one uses them

And that they toss them in the garbage or give them to the children to play with

So the commentators suggest to Cbi that they should cancel the printing of all these lower denoms and coins

And just keep issuing the big bills

But another solution to this problem is what we’ve been waiting for… the Rv!!!!

Because when they Rv, prices will be adjusted and the dinar will have greater purchasing power.

And the large denoms will not be needed

And the smaller denoms will buy much more than they do now.

So you won’t have to carry around a bunch of smaller denom bills

And you will use the coins and what not

Just like we do in the Us

So the audio recording is geared towards venting people’s frustrations with the state of the currency

as they are making Iraqis use the smaller notes

The people want the smaller denoms gone.

And that was the whole point of the audio clip

I think it is a case of the people not really understanding what is being planned.

When the Rv happens and things change like we talked about above, then they’ll be like oh okay, this is better than all those large bills

We now know what the “delete 3 zeros” was…they are removing the larger denominations from circulation. That is now a fact. 25,000, 10,000, 5,000, 1,000 are being discontinued and the CBI has in fact, been drawing them in (Articles stated months ago 70% or 85% complete). Leaving the Iraqi people to buy at the current exchange rate with the 500, 250, 50′s note. Still no sign of smaller denominations such as 1, 5, 10, etc.

Also, the recording says this has been going on for a few months…Hence the 38 or so “delete 3 zero articles” all over the Iraqi sites from Sept -Dec.

This is exciting…as they cannot stay at the current rate for long.

Kaperoni Thoughts #10 in Post 38.....

Edited January 10, 2011 by ronscarpa

[learning all i can]

link not found

[tim5400]

Ok good news ...were waiting patiently

[weavey323]

link works for me

[keepmwlknfny]

Can anyone else verify this translation??? Anyone? Anyone??

[bluejay]

Makes total sense. Thanks for sharing

[sonny1]

Can anyone else verify this translation??? Anyone? Anyone??

its real.

[MooCow]

For some reason I thought this was an older article. It just seemed familiar. I tried to look real quick for a date and if the date is correct in the url "Fid%3D2011-01-03%252010:08:09&prev=hp&rurl=translate.google.com" then it is from Jan 3 2011. If this is the case then it does sound promising. Remember though...they have been suffering and dealing with crap over there for how long? It looks good that they are fed up but we will have to wait and see if it has really lit a fire under their ass. I think it shows well for what we want but I do not know if it is really speeding up the process to the final goal.

[Darin]

You know, I remember hearing some time ago, before I ever invested in the Dinar that the culture of Iraq likes to wheel/deal with their markets. Negotiating prices and exchanges...

Long story short, a peson may enter a market and see something for such a price and negotiate a lower price... Think of it as how we never buy a car or house for the value we see it posted.

I think this mentality goes a little bit farther than cars & houses... It may include other goods such as TVs, furniture, and possibly clothing.

For us, we normally see a price and pay it... If the price is high, we wait for it to go on sale or find a better alternative. But, I also believe they try to exchange goods as well.

Think of it is.. I'll trade you my car for this TV + this much money, sort of trades.. I would believe with not having currency on hand to make such transactions, it would be hard. Especially if they have to carry a lot of middle of the road bills around such as 500/1,000 while being short of the 25k and no smaller demonimations.

Just a thought..

Anyone else agree that their culture tends to work this particular way?

[guenther]

Worked for me,thanks

[BlueOrchid919]

For some reason I thought this was an older article. It just seemed familiar. I tried to look real quick for a date and if the date is correct in the url "Fid%3D2011-01-03%252010:08:09&prev=hp&rurl=translate.google.com" then it is from Jan 3 2011. If this is the case then it does sound promising. Remember though...they have been suffering and dealing with crap over there for how long? It looks good that they are fed up but we will have to wait and see if it has really lit a fire under their ass. I think it shows well for what we want but I do not know if it is really speeding up the process to the final goal.

Same here, this sounds very familiar, but after an extensive search online, I can't find the old article. I'll keep looking though, as I'm pretty sure this dates back to when the coins were removed from circulation... 2004? 2005? not sure as I can't completely recall where I read this.

Question though.... if the small denoms and coin usage was such an issue as to cause 'shame' and increasing anger in the Iraqi people - especially since this has allegedly been going on for several months according to the recording, wouldn't there be at least ONE real news article in PRINT about this? I've searched 5 different ME news sources back 6 months or more for print articles quoting Mahmoud Almksusi Chairman of the Economic Development Committee (or anyone else for that matter) about this small denom and coin issue and have come up empty handed. Perhaps someone more astute in online searches can do better than I have.... ?

My internet search all points back to dinar forums and Kaperoni's comments. Nothing is found anywhere else, no print, no video, no interviews, no anonymous tips, nothing. Surely there would be SOMETHING about this in a legitimate news article somewhere, no? Just trying to validate or refute this....

Edited January 4, 2011 by BlueOrchid919

[JAS91]

Shouldn't this be in the Iraq news instead of rumors? It does have a working link..

[tanjungpinang_fiqa]

link not work

http://www.radiodijla.com/ckfinder/userfiles/files/amlaa.mp3

[keepmwlknfny]

its real.

Did you hear the translation yourself bro??

[oilman80]

its real.

It's real because you say it's real? Sorry man, but I have no idea of your credibility. Typically when someone asks for verification, they are looking for - well - verification.

[The Last Polar Bear]

Did you hear the translation yourself bro??

x2. I often wonder how good the translator is, if it was even translated at all. Not trying to stir the pot or anything, but in this Dinar speculation, one thing I've learned, is not to take ANYONE'S word for anything. Hahahaha! I think that is how a lot of false rumors get major credibility. Multiple people truly believe and then suddenly, it's like common knowledge or something.

[BlueOrchid919]

The question is.... why would something of this magnitude be found solely on ONE obscure audio source? Why isn't this being reported on by other more valid news sources? Wouldn't the depletion of 10K and 25K notes be news worthy? Wouldn't the Iraqi people's numerous complaints of having to use coins and smaller notes be all over their TV? or newspapers? Just askin'.......

[Basilthyme]

The story in question is on the right side of the page, under the picture of the gentleman (I assume Mr. Almksusi) speaking into the microphone. The audio link is supposed to be just below that, but isn't working, as you all have noted. However, the article summary is exactly as the op stated.

http://www.radiodijla.com/cgi-bin/news/news_item.pl?id=2011-01-03%2010:08:09

"Coins and paper in small groups facing the risk of "extinction" in Iraq

Receded handle coins and paper in small groups in Iraq, even by young children to the decline in value of material and high rates of inflation.

Mahmoud Almksusi Chairman of the Economic Development Committee in the provincial council in Basra, says that the reason for the extinction of the coin is made in the currency inflation, while citizens from carrying ashamed of these currencies, calling for the central bank to cancel.

More details with Mohammed Al Jabri:"

When I attempt to enter the above website into google translate, the article in question does not appear for some bizarre reason. However, if I navigate to it directly with google chrome, the bubble appears asking if I wish to translate, and upon clicking yes the english version of the article summary is viewable.

Upon clicking the "print version" button, it produces a popup filled with question marks. Upon emailing the story to myself, I received a message saying:

تحية طيبة..

أحد أصدقائك قرأ خبراً مهماً على موقع راديو دجلة.

لتقرأه أنت أيضاً، أنقر على الوصلة أدناه:

[ تفاصيل الخبر ]

مع التحية

إدارة موقع راديو دجلة

www.radiodijla.com

Which translates to:

Greetings ..

One of your friends read the big news on Radio Tigris.

To read you too, click on the link below:

[Details]

With the greeting

Site Manager Powered by vBulletin

w

But the link is just back to the main site, and not the article.

Very odd set of circumstances imo.

The question is.... why would something of this magnitude be found solely on ONE obscure audio source? Why isn't this being reported on by other more valid news sources? Wouldn't the depletion of 10K and 25K notes be news worthy? Wouldn't the Iraqi people's numerous complaints of having to use coins and smaller notes be all over their TV? or newspapers? Just askin'.......

The day to day goings-on of Iraq don't seem to be of much interest to our side of the world, so it wouldn't surprise me if this and other stories like it were ignored by western media. This could be the case here because the op's translator friend is extrapolating from the story that large bills are being removed from circulation, but that isn't what the story itself is about, hence it hasn't made a big splash headline-wise.

I can actually believe the "shameful" comment; I work with Iraqi refugees in the US and they are extremely shy, easily embarrassed people. For example, they insist upon serving tea to visitors, and the entire family will begin to blush and fluster if the visitor even begins to make motions of helping to clean up the dishes (something taken for granted in my family). Upon asking, one family told me (through a translator) that it is extremely embarrassing to have visitors help with cleanup, and that as their guest I must let them do this for me.

[Basilthyme]

This could be the case here because the op's translator friend is extrapolating from the story that large bills are being removed from circulation, but that isn't what the story itself is about, hence it hasn't made a big splash headline-wise.

I'm sorry, upon rereading I don't know whether the translator was the op's friend or from another site.

[VanessaL4100]

What if all you have is the 25k notes???? Discontinued?? Will they not accept them to trade back in when it rvs??

[hopefullbk]

What if all you have is the 25k notes???? Discontinued?? Will they not accept them to trade back in when it rvs??

According to this, if thats all you have, no worries if things go according to plan. All they want to do is collect those 000 notes as they come into the banking system and take them out of circulation. From what the experts say, thats a good indicator that they intend to move to smaller denominations and at the current value, smaller denoms are worthless, hence this would indicate they intend to RV soon. I'm no expert, just regurgitating what I've been reading. Hope that makes sense.

[VanessaL4100]

According to this, if thats all you have, no worries if things go according to plan. All they want to do is collect those 000 notes as they come into the banking system and take them out of circulation. From what the experts say, thats a good indicator that they intend to move to smaller denominations and at the current value, smaller denoms are worthless, hence this would indicate they intend to RV soon. I'm no expert, just regurgitating what I've been reading. Hope that makes sense.

I actually got those through the 5/3 Bank. So you are saying they will take the 25k notes back if it RVs? Thanks for responding too, btw. I was a little worred. ha!

[hopefullbk]

I actually got those through the 5/3 Bank. So you are saying they will take the 25k notes back if it RVs? Thanks for responding too, btw. I was a little worred. ha!

According to the experts or so called gurus, yes. If you have a 25000 note, or several of them, they will not lose value. When you sell them back after revalue, the banking system will pay you what its worth per dinar and remove (destroy) the 25000 and other large denom notes from circulation. (another phrase you'll see alot that means the same as the above explaination is "raising the zeros" from the dinar) You're good according to the experts. I have no idea what is going to happen but that seems to be the prevailing opinion.

[VanessaL4100]

According to the experts or so called gurus, yes. If you have a 25000 note, or several of them, they will not lose value. When you sell them back after revalue, the banking system will pay you what its worth per dinar and remove (destroy) the 25000 and other large denom notes from circulation. (another phrase you'll see alot that means the same as the above explaination is "raising the zeros" from the dinar) You're good according to the experts. I have no idea what is going to happen but that seems to be the prevailing opinion.

Ok! Great! thanks so much for your insight! it's muchhhh appreciated!

[gregp]

Can anyone else verify this translation??? Anyone? Anyone??

maybe try reading it "twice".