From CBI's website

[Munsch]

I didn't see if anyone posted this here. If so, here it is again. Sorry

BTW..."new currency" means the low denominations.

This is interesting, they're reassuring the Iraqis they're releasing new currency.

A new anouncement on the cbi site in arabic 01/10/2011

A new anouncement on the cbi site in arabic http://www.cbi.iq/documents/press%20for%2010-1-2011.pdf

GREAT FIND!! I usually only look at the English side. Guess it will take them a while like always to reflect the posting on the English side.

[USMC_2674]

Do we have an idea what this means yet?

[brichards513]

it says 2010 at the bottom?? 12/10/2010?? anyone else see this or are my eyes playing tricks on me??

You aren't seeing things - and the way that they write dates over in the ME - this is actually October 12, 2010 - so three months old. FYI

God Bless.

Brich

[SaRSam]

New Currency=Redenomination=Lop.

you do know that LOP is made up right? You can speak with anyone that actually deals with currency with any major corporation, and they will say LOP who? Never heard of it. Would never happen

[Chip]

They said "issuing a new currency".

Not lower denoms, not a new class....

Could they be planning on claiming odious debt?

The current IQD was issued as a debt instrument to rebuild after the previous regime.

Since the it could be plausibly tied to the old regime.... I'm just sayin.

The GOI wasn't formally recognized until as of late, the transition could be viewed as a by product of the removal of Sadaam.

The currency they have now is not tied to the "old regime". It was implemented after the reconstruction in 2003 and very expensive. De la Rue printers and all. Basically counterfeit proof. If they create a "new currency" they will have wasted billions. Not gonna happen. They're going to stick to the currency they have now. If they neg out on what the world has expected for nearly a decade, their country won't last long and everything that the US has invested into their recovery would be lost. The US is heavily invested in the Dinar. Bush himself stated that the war will pay for itself. Why do you think Obama run's up the debt like he's using a stolen credit card? Because the US government has investements that must come to fruition...otherwise the US is going to kick somebodies a$$!!!!!

[RocketDinarest]

I just read the CBI artcile in Arabic (which is by the way my native language). The article says nothing about introducing new currency, it was listing the duties of the CBI which one of them is "the issuance of currency"! I think whoever translated it, translated it wrong.

GO RV!!

[Econman33]

I just read the CBI artcile in Arabic (which is by the way my native language). The article says nothing about introducing new currency, it was listing the duties of the CBI which one of them is "the issuance of currency"! I think whoever translated it, translated it wrong.

GO RV!!

Thanks. Plus it is 3-months old.

[Richardk]

I just read the CBI artcile in Arabic (which is by the way my native language). The article says nothing about introducing new currency, it was listing the duties of the CBI which one of them is "the issuance of currency"! I think whoever translated it, translated it wrong.

GO RV!!

Thank You Rocket, I hope this will stop the new posters who take what they read as complete truth.

Stay grounded, calm and be happy

Go RV/RI

[FMCC]

You aren't seeing things - and the way that they write dates over in the ME - this is actually October 12, 2010 - so three months old. FYI

God Bless.

Brich

I saw the translated part of the email I received. it said 10/2010 but when I click on the link, it says 2011. Actually it is the only thing I understand. Maybe they were talking about the future. Can RocketDinarest translate the article please. I understand now what it doesn't say. Thanks.

[Metrious]

I saw the translated part of the email I received. it said 10/2010 but when I click on the link, it says 2011. Actually it is the only thing I understand. Maybe they were talking about the future. Can RocketDinarest translate the article please. I understand now what it doesn't say. Thanks.

I agree please RocketDinarest can you do us the favor.... auto translators are a pain in the cerebellum to understand.

[jayd]

the money will prob. lop just like mexico did in the 80's and we all will be doing good to just get out of this mess with what we have in it and not lose it all

[tykmoore]

ouch

[jayd]

If they can do it they will

25000 iqd = 25 iqd

10000 iqd = 10 iqd

5000 iqd = 5 iqd

[RocketDinarest]

I agree please RocketDinarest can you do us the favor.... auto translators are a pain in the cerebellum to understand.

I will give a summary, and a direct to the point translation (not a word for word translation).

Basically the CBI is denying the false news about " a powerful force pressuring the CBI to listen to the GOI". Then the CBI is saying to "whom it may concern" we know our jobs, and our duties, and we know what we are doing for the best intrest of Iraq, and we don't need anyone to tell us what to do.

I hope that helped clarified the matter a bit!

Come on CBI screw all of them let's RV!!!!!!

[Munsch]

I will give a summary, and a direct to the point translation (not a word for word translation).

Basically the CBI is denying the false news about " a powerful force pressuring the CBI to listen to the GOI". Then the CBI is saying to "whom it may concern" we know our jobs, and our duties, and we know what we are doing for the best intrest of Iraq, and we don't need anyone to tell us what to do.

I hope that helped clarified the matter a bit!

Come on CBI screw all of them let's RV!!!!!!

Thank you very much for the time you spent on translating this for us. Please feel free to correct any other mis-translations you may see.

[waterguy101]

New currency means when they revalue, they will need lower denominations. 5s, 10s, 20s etc... like we have in USA. If they value it at 1 to 3 USD to 1 IQD then the 25k bills will be worth more than people will afford. They will be getting rid of the large currency but when it revalues, it will be still worth the revalued sum. Most likely we will have a time limit to cash in so they can take out all the large currency's from circulation. When they talk about the 3 zeros, it means taking the zeros away from the value. Like 0.00086 is the value now. Take away the 3 zeros and it is .86.Hope this helps.

IMO... THIS IS THE MOST CORRECT AND LOGICAL POST I HAVE READ.

[andy3978]

If they can do it they will

25000 iqd = 25 iqd

10000 iqd = 10 iqd

5000 iqd = 5 iqd

I dont know about that...maybe i'm wrong. just trying to get my learn on here

If I have 2,000,000 Dinar and they kill 3 zeros that will leave me with 2,000 dinar.

Even if it RV's at 3USD to 1IQD, that would yield me $6,000 USD?

Doesn't seem right

[Carrello]

I don't mean to be the *********** here but where did you get your info on this?

Is this your interpretation?

Gosh and I must say my spelling is not that great, lol.

Thanks

Emerald

It is an OPINION, Emerald, an opinion.

And you need to watch your language. If you watch the news at all, you will see that using the "R" word, except in medical instances, is not socially acceptable.

[Uncle Barkie]

the money will prob. lop just like mexico did in the 80's and we all will be doing good to just get out of this mess with what we have in it and not lose it all

If you are that sure it will " LOP ," then , by all means , sell off your IQD now ! I , myself , or many others will gladly purchase it from you . It never ceases to amaze me , all the negative " LOPSTERS " who post . If they are so sure it's going to be that bad then why ,for heavens sake, are any of you wasting your lives on this or any other site when you will gain nothing by it . It's o.k. to keep a realistic attitude about this investment , but being so convinced that it won't do anything just makes me wonder why you're all still involved . Move on with your lives , and please , don't waste our time with anymore of the negativity ( positive attitudes breed positive results !)

Have a pleasant day !

Uncle Barkie

[prettybaby]

This appears to be an old post from 2010.

[Silverdinar]

So if they are to release " the new currency " when do they plan on doing that. Shabibi said he would do it before the end of the year 2010. Not happened yet. So when is the Big Event. Let the games begin.....oh i'\m so sorry they began last March 7 at the national election. At least in American sports games they do come to an end,, time does run out. I guess they keep playing til they get their desired results. Must not have them yet....... so the games continue.. eh ........ Go rv !!!!!