NO SMALL DENOMINATIONS COMING

[mentalmagic]

There will be no smaller denoms issued by the CBI. I received this info directly from a bank contact in Iraq. So for those who claim ATM's were being loaded with smaller denoms, this information is FALSE. Just thought I'd pass on this bad news. Bummer.

Edited April 16, 2011 by mentalmagic

[Islandgirl7]

What bank...phone number and contact please

[moose 57]

Does that make my larger denominations worth less?

[easyrider]

There will be no smaller denoms issued by the CBI. I received this info directly from a bank contact in Iraq. So for those who claim ATM's were being loaded with smaller denoms, this information is FALSE. Just thought I'd pass on this bad news. Bummer.

ok first off why would we believe you? you havent said anything postive about this investment ive read a lot of your posts you may be right or you may be completely wrong but i can assure you the RV is coming folks DONT LET THIS GUY GET YOU DOWN.

[Butifldrm]

There has been about 30+ articles stating Iraq is going to lift the Zeros, and at least one stating there intent is to reissue a new currency with Kurdish writing. I doubt they will reissue 25000.00 notes. the Banker is lying! He might lose his job if doesn't. JMO have faith.

[Jim1cor13]

There will be no smaller denoms issued by the CBI. I received this info directly from a bank contact in Iraq. So for those who claim ATM's were being loaded with smaller denoms, this information is FALSE. Just thought I'd pass on this bad news. Bummer.

Thank you mentalmagic for your info.

If your friend is correct, you can file the lies about the ATM's under the same

file as "Shabibi was in Switzerland this week", that was proven to be

false also with just a few minutes worth of research.

Some of those guru folks are the pure definition of liar...and as long

as they have their audience, it will not stop until this actually comes to a close.

One would think it should be a HUGE red flag when they ban others just for

even questioning them. Sad indeed.

Thank you for your effort!

All my best!

Jim

---

Edited April 16, 2011 by Jim1cor13

[TKM]

There will be no smaller denoms issued by the CBI. I received this info directly from a bank contact in Iraq. So for those who claim ATM's were being loaded with smaller denoms, this information is FALSE. Just thought I'd pass on this bad news. Bummer.

Your contact, whoever that is, as well as your writing is misleading. Not being tacky.

No there are no small denoms in ATM's yet only for the fact that they are not issued in circulation that any of us can actually proclaim to be correct knowing.

There will be smaller denoms issued by CBI. They are more than likely already printed and just setting collecting dust for a plug to be pulled. My thoughts.

Maybe some rep in Iraq told you, maybe, that there are no ATM's with small denoms. This I can believe.

[Austin-Powers-for-PM]

There will be no smaller denoms issued by the CBI. I received this info directly from a bank contact in Iraq. So for those who claim ATM's were being loaded with smaller denoms, this information is FALSE. Just thought I'd pass on this bad news. Bummer.

Well there it is, no RV. Guess it's time to sell all of my Dinar back to Ali and put my dollars under the mattress.

Seriously though, I take your post with the same grain of salt as those posts that basically say "My brother-in-law said his banker told him the RV will be here next week." Either you are falsifying the info (doubtful), or your contact is throwing you a big, fat, curveball (likely).

[DEAMAN]

MentalMagic,

I went over you previous posts, you seem very level headed to me on how things are going, not being swept up of getting rich quick. I have to agree with you, it is an investment, but not the type of investment that most hope it to be.

You mentioned about the ATMs not being loaded with small denoms, that could be true one way or the other. It could be they will be in time when the planned redenomination happens, and not before then. Anyway, time will tell if your infomatoin is right, let's hope for the best and prepare for the worst.

[mentalmagic]

To follow up, he just informed me that they will be instructing citizens to turn in thier current dinars for a new currency. He again confirmed, no small 1, 5, 10 or 20 dinar notes. But there will be a new currency released with many changes. Dr. Shabibi just made announcement on Iraq National television. He also encouraged Iraqi youth to attend school in America, then return home to help build Iraq. I take this as great news. They could be reducing the amount of large bills (removing the three zeros) and with that, revaluing the currency at the same time. My impression of this call was GOOD NEWS for us!

[Serenity]

To follow up, he just informed me that they will be instructing citizens to turn in thier current dinars for a new currency. He again confirmed, no small 1, 5, 10 or 20 dinar notes. But there will be a new currency released with many changes. Dr. Shabibi just made announcement on Iraq National television. He also encouraged Iraqi youth to attend school in America, then return home to help build Iraq. I take this as great news. They could be reducing the amount of large bills (removing the three zeros) and with that, revaluing the currency at the same time. My impression of this call was GOOD NEWS for us!

Thank you!!

[DEAMAN]

Mentalmagic,

Thanks for that second update...a new currency is what exactly what they have been saying all along, though the news has always said redenomination. Thanks again for the news...

[bluebell]

To ask a stupid question, I've noticed dinar and Bahran or Barain, I think was the word. Is this in Iraq or a different country? The reason I asked is that my daughter just showed me today a 1/2 dinar note, issued by the Central Bank of Barain and it looked a lot like the Iraq dinar. It was given to her by her boyfriend's sister, who is in the Navy. I can't imagine what 1/2 dinar is worth if a regular dinar has been worth 1/10th of a penny, if I'm correct in what I've read before. Anyway, I'm just curious - where is Barain? Apparently they have very small denomination notes! And I did see it and actually held it in my hand. My daughter was wondering what it would be worth, if anything, after the RV. Anyone???

[DEAMAN]

* CBI: The restructuring of the Iraqi currency inflation fit the cash block

April 16th, 2011 04:43 pm · Posted in NEWS (Iraq & World Currency)

An advisor of the Iraqi Central Bank, Dr. Mohammed Saleh appearance that the bank adheres to its policy regarding the removal of three zeros from Iraqi dinar traded at present.

The Chancellor said in an interview for Radio Free Iraq that the application of political restructuring of the Iraqi currency would fix the management problems, faced by the inflation of the cash block in the country’s $ 28 trillion dinars, especially since the structure of the current currency is no longer commensurate with the prices and costs in Iraq.

He said the Iraqi Central Bank Consultant to the current situation was appropriate to start this project, which would boost the Iraqi economy, but on this project must first get approval from the Iraqi government, which in turn be submitted to the Iraqi Council of Representatives for approval.

The proposal to delete three zeros from the currency has triggered controversy among economists of Iraqis and was the most prominent points of disagreement among them on what could be its implications on the economic sector, especially in the case of operation, a sudden and fast.

This has prompted the dispute, an economist on behalf of the Patriarchs, which had already been for years an economic adviser to the Iraqi Central Bank show that the fear of the implementation of the project at this time despite the completion of all studies about him the fact that the economic situation does not help that.

To that, the adviser to the Central Bank of the appearance of Mohammed Saleh, said that such fears are unwarranted, and that the economic situation in Iraq is good and able to withstand the application of this project, and that this experience had previously been applied in countries such as Turkey, which has by deleting six zeros from the currency before the period is not too distant future

Just came out, more fuel to the fire...

[RonSkilbeck]

Thank you mentalmagic for your info.

If your friend is correct, you can file the lies about the ATM's under the same

file as "Shabibi was in Switzerland this week", that was proven to be

false also with just a few minutes worth of research.

Some of those guru folks are the pure definition of liar...and as long

as they have their audience, it will not stop until this actually comes to a close.

One would think it should be a HUGE red flag when they ban others just for

even questioning them. Sad indeed.

Thank you for your effort!

All my best!

Jim

Hey Jim, I just wanted to give you a thumbs-up about your comments "One would think it should be a HUGE red flag when they ban others just for

even questioning them. Sad indeed" Staying positive - all input and questions are valid unless a known pumper or rude remarks are made. Thanks for your input and your efforts. - RS

---

To ask a stupid question, I've noticed dinar and Bahran or Barain, I think was the word. Is this in Iraq or a different country? The reason I asked is that my daughter just showed me today a 1/2 dinar note, issued by the Central Bank of Barain and it looked a lot like the Iraq dinar. It was given to her by her boyfriend's sister, who is in the Navy. I can't imagine what 1/2 dinar is worth if a regular dinar has been worth 1/10th of a penny, if I'm correct in what I've read before. Anyway, I'm just curious - where is Barain? Apparently they have very small denomination notes! And I did see it and actually held it in my hand. My daughter was wondering what it would be worth, if anything, after the RV. Anyone???

It's a good question. Off the top of my head Bahrain is an Island country right off the coast of Saudi Arabia, who like Kuwait, only source of revenue is oil (and the Formula One race). The US has a huge navy base on the Island. Right now Saudi has sent their army and tank over to help with the recent protest against their royals. They have one of the highest valued currencies in the world (#2 or 3 I think - I'd have to look it up again) That half a dinar is probably worth about $2.00 U.S. Again, great question! Hope this helps.

Well there it is, no RV. Guess it's time to sell all of my Dinar back to Ali and put my dollars under the mattress.

Seriously though, I take your post with the same grain of salt as those posts that basically say "My brother-in-law said his banker told him the RV will be here next week." Either you are falsifying the info (doubtful), or your contact is throwing you a big, fat, curveball (likely).

Yep, a Rumor!

[sportfisher]

To follow up, he just informed me that they will be instructing citizens to turn in thier current dinars for a new currency. He again confirmed, no small 1, 5, 10 or 20 dinar notes. But there will be a new currency released with many changes. Dr. Shabibi just made announcement on Iraq National television. He also encouraged Iraqi youth to attend school in America, then return home to help build Iraq. I take this as great news. They could be reducing the amount of large bills (removing the three zeros) and with that, revaluing the currency at the same time. My impression of this call was GOOD NEWS for us!

a replacement currency is NOT good news, you must be here to discourage people from this investment?

[akeskimo]

Ludicrous...un.diplomatic.....superfluous!

[quadraph0nic]

no small denoms? I'm not surprised. How about one larger denomination? Its possible.

Based on information that's out there...that's been put out there by IMF and MOP this is the year the dinar will be allowed to appreciate.

You can already see the M2 has been reduced the last couple of months. Hopefully that trend will continue.

See, at this time the lower denominations are without value. I'm talking about the ones that are in circulation. What can you buy with a 50 dinar note in iraq? what is it worth?

Now over time hopefully the dinar can increase in value giving relevance to these existing lower denominations and then eventually they can get around to issuing smaller denominations below 50 but as its needed and at the same time removing the large denominations. This would happen over the course of....years?

Why not? Look at the history of the US dollar and some of the denominations that have been pulled out of circulation. This was brought up many times on the forum but its a great point.

Anyway, doing it this way makes sense to me as it's gradual and it doesn't cause a shock to their economy or society.

Our idea of this RV like it will happen over night is a stretch. I mean if it happens that way, I will be happy but honestly there are consequences for giving something of no value one day GREAT value the next day. Too many of us don't think of what would happen on the streets of baghdad. You think they would be celebrating? Maybe for a few minutes till some get the idea they can easily rob or kill people for their money. That would happen in the U.S. if you increased the value of the dollar by 1000%.

This is just my opinion and only one of several outcomes that I'm prepared for.

[KramerDinar]

There will be no smaller denoms issued by the CBI. I received this info directly from a bank contact in Iraq. So for those who claim ATM's were being loaded with smaller denoms, this information is FALSE. Just thought I'd pass on this bad news. Bummer.

I am sorry but if I had a bank contact in Iraq, I might just get a little more useful information from them other than the ATM's were not loaded with smaller bills. Also, you know when you can tell someone is passing along garbage information - when they actually use the term "bummer".

[METEMARLO]

as ive been saying we are bombarded with newbies with contacts in iraq and negative info these people are agents of unrest and they are paid to do so.WE ARE ON TO THEM STAY THE COURSE!!!!!!

[zantac]

An advisor of the Iraqi Central Bank, Dr. Mohammed Saleh

Any information/press news or anything this guy (Dr. Mohammed Saleh) states is total BS.

Doc31 & me have proven this on many different posts he is nothing but a spin doctor.

Everything this guy has said/stated if nothing more than Political propaganda

[easyrider]

Any information/press news or anything this guy (Dr. Mohammed Saleh) states is total BS.

Doc31 & me have proven this on many different posts he is nothing but a spin doctor.

Everything this guy has said/stated if nothing more than Political propaganda

you are absolutely correct ive said many times until i see articles out that shabibbi is saying it then i can believe what the CBI plans to do other than that saleh is a damn fraud.

[DEAMAN]

You could be very well right, one would expect a lot of disinformation coming out, but on the other hand you have to accept the possibility that what is being said is true...the devil will sometimes tell you just enough truth to mess with your mind. Who really knows right? We can only guess.

[zantac]

you are absolutely correct ive said many times until i see articles out that shabibbi is saying it then i can believe what the CBI plans to do other than that saleh is a damn fraud.

Spot on

[RonSkilbeck]

To follow up, he just informed me that they will be instructing citizens to turn in thier current dinars for a new currency. He again confirmed, no small 1, 5, 10 or 20 dinar notes. But there will be a new currency released with many changes. Dr. Shabibi just made announcement on Iraq National television. He also encouraged Iraqi youth to attend school in America, then return home to help build Iraq. I take this as great news. They could be reducing the amount of large bills (removing the three zeros) and with that, revaluing the currency at the same time. My impression of this call was GOOD NEWS for us!

Now this is more interesting news. Thanks for posting and thanks for the effort!!!