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I think I have read somewhere that a dollar bill here is suppose to last 18 months. Then you add a couple of months for each denomination going up.

So really, when you think about it this money has been in the system a long time. Longer than it should.

It has to deteriorate, get torn, dirty and ripped.

So, if you have to replace them soon anyway, why not make it easier to use for the common folk by chopping off the zeros. The zeros don't seem to be doing anything anyway.

If a goat burger, fries and coke cost 8.5K then it would be easier to give back a buck fifty than fifteen hundred.

I mean would you look at your girlfriend at that awkward moment right before your first kiss and say "Nineteen Hundred Dollars for Your Thoughts"?

Or get mad when you get a thousand dollar bill on it that says www.wheresSHIBIBI.com <------ LOL My favorite

Just rambling on I guess. Whatever happens will happen, but I'm sure when it's over some of us will be elated with whatever we get and for some it won't be enough. No matter how much it changes.

BUDS!

Chuck

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I'm sure Iraq has the same type of practice as any other nation with monetary maintenance - once bills come in to banks and are past the point deemed allowed to be in circulation, they document it and then replace it with a crisp and clean new bill and trash the other. That way they're not changing the amount in circulation beyond the specific times they printed large amounts to combat cash shortages and whatnot. The currency itself is relatively new (6 years-ish, I believe) so there's no reason to make an entirely new one, plus it would cost waaaaaay too much for them to authorize that with a clean conscience. They won't LOP, re-denominate, or whatever else seems improbable. They will do what gives them the best return on investment of foreign currency reserves. They hold the oil, the sweetest on the planet, and will do what needs to be done to profit from it. That's why there is so much delaying, so it can all be done carefully and so they can cover their bases. A low-RV slow-climb to pre-80s value or higher would appear more stable and financially sound, but a higher RV would make a lot more people happy in the short term, so is more likely to happen, IMO. Even though so many people say the opposite, I think Iraq cares about its image and who they let affect their growth and potential. They're going to try to make people happy so they can join the world stage as a powerhouse and keep a lot of cards in waiting to play big hands. They don't want to have a short stack and get bullied by other, stronger countries. Poker 101 people...

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I was just looking in my wallet and I have bills from 1996,2003,2005,2006,2009 and they are US dollars and they have been in many wallets and floated around for many years.. The Iraqi dinar I have I aquired in 2005 and it has sat in my safe since than so I think that they haven't had as much wear and tear and deterioriating as the US currency I have in my wallet right now. So my dinar like I am sure most of it out there in our posession is in good shape since it hasn't been out in the system as much as the US currency and just sat in safes and safety security boxes

..

When I worked at a place which took US currency if it was ripped or worn or dirty or even defaced with writting on it ,that's when we filled out a form and forwarded it to the US Treasury for a reissue of a cleaner bill and they destroyed or did whatever they wanted with that old rotten bill.. All I am saying is the dinar we have is in good shape and I am sure that that the Iraqi's won't replace the money untill it's deemed necessary and they will probably do it as the bills come in,,

Go Rv

God Bless America

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I was just looking in my wallet and I have bills from 1996,2003,2005,2006,2009 and they are US dollars and they have been in many wallets and floated around for many years.. The Iraqi dinar I have I aquired in 2005 and it has sat in my safe since than so I think that they haven't had as much wear and tear and deterioriating as the US currency I have in my wallet right now. So my dinar like I am sure most of it out there in our posession is in good shape since it hasn't been out in the system as much as the US currency and just sat in safes and safety security boxes

..

When I worked at a place which took US currency if it was ripped or worn or dirty or even defaced with writting on it ,that's when we filled out a form and forwarded it to the US Treasury for a reissue of a cleaner bill and they destroyed or did whatever they wanted with that old rotten bill.. All I am saying is the dinar we have is in good shape and I am sure that that the Iraqi's won't replace the money untill it's deemed necessary and they will probably do it as the bills come in,,

Go Rv

God Bless America

Agreed.

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I think I have read somewhere that a dollar bill here is suppose to last 18 months. Then you add a couple of months for each denomination going up.

So really, when you think about it this money has been in the system a long time. Longer than it should.

It has to deteriorate, get torn, dirty and ripped.

So, if you have to replace them soon anyway, why not make it easier to use for the common folk by chopping off the zeros. The zeros don't seem to be doing anything anyway.

If a goat burger, fries and coke cost 8.5K then it would be easier to give back a buck fifty than fifteen hundred.

I mean would you look at your girlfriend at that awkward moment right before your first kiss and say "Nineteen Hundred Dollars for Your Thoughts"?

Or get mad when you get a thousand dollar bill on it that says www.wheresSHIBIBI.com <------ LOL My favorite

Just rambling on I guess. Whatever happens will happen, but I'm sure when it's over some of us will be elated with whatever we get and for some it won't be enough. No matter how much it changes.

BUDS!i swear not this again ru kidding us all? please stop wioth the zero thing

Chuck

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I can't help but laugh when people say that the cost of printing a new Iraqi currency would be WAY too expensive to make it a reasonable option. The truth is that the total cost of the new 2003 design, including printing, transporting, and security costs involved in getting it distributed to all of the banks was just over $200 Million Dollars. When you think about the total number of current Dinar investors, each holding well in excess of one million Dinars each, this $200 Million Dollar cost is actually miniscule in comparison. I would venture a guess that any 40 of the 28,000 members of this website alone hold more than $200 Million Dollars worth of Dinars at even a $1 RV. So the cost of printing a new currency is actually WAY CHEAP. :rolleyes:

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I can't help but laugh when people say that the cost of printing a new Iraqi currency would be WAY too expensive to make it a reasonable option. The truth is that the total cost of the new 2003 design, including printing, transporting, and security costs involved in getting it distributed to all of the banks was just over $200 Million Dollars. When you think about the total number of current Dinar investors, each holding well in excess of one million Dinars each, this $200 Million Dollar cost is actually miniscule in comparison. I would venture a guess that any 40 of the 28,000 members of this website alone hold more than $200 Million Dollars worth of Dinars at even a $1 RV. So the cost of printing a new currency is actually WAY CHEAP. :rolleyes:

Have you taken into consideration that they would likely be printing more bills this time around?

27,000,000,000,000 IQD as of now

27,000,000,000 - Upon if they were to RD/LOP

27 Billion IQD... They make way more than that in Crude/Gas revenue

Big-time corporations are worth more than that.. Rich-Billionaires are worth more than that.

27 Billion IQD in circulation (And that is not even the US value, the US value would fall around 24B)

Not to mention, the U.S. spent nearly 1.5T USD in helping liberate that nation.

And, I think I recall Pre-War they had roughly 200B in IQD circulation of old notes.

If they were to introduce new denominations....Upon LOP/RD, there would be a good chance they would need to print more bills than the time before... As Speculators exchange out their denoms & unless they increased the value, there could easily be another infusion of people who purchase up their currency.

They would also need military assistance as they ship & bring these denoms to banks all over the country. And, I am not 100% sure, but I believe the U.S. paid for this all the first time around, so, the quesiton is.. When does the U.S. get their portion back...

I'm not arguing that it is impossible, just saying I think this time around it may cost a substantial amount higher than before.

Simpler solution, infuse the new low denoms into the market over a longer period of time as they draw back other 000s. (Would save on costs & extend the amount of time for foreign investors to exchange as well or cash-in)

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We only know the total COST of the first printing. There's no available info on the total number of notes printed, as far as I've been able to determine, but it really doesn't matter. The cost per note is really insignificant in the big picture. The $200 Million cost for the first printing included all of the security operations of the military in transporting and delivering the currency. It might in fact be higher this time around, but obviously not significantly in comparison.

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My question is why do they have the lower denoms. Printed already? We know they exist, but have not been put into circulation....there is a reason for this....can anyone answer this? It seems obvious that it is for plans made long ago to drop these zeros , and revalue the dinar....jmo! I amd curious to hear what happens in the meeting in DC that started at 10 am today...should be interesting! Warm Wishes to all...

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My question is why do they have the lower denoms. Printed already? We know they exist, but have not been put into circulation....there is a reason for this....can anyone answer this? It seems obvious that it is for plans made long ago to drop these zeros , and revalue the dinar....jmo! I amd curious to hear what happens in the meeting in DC that started at 10 am today...should be interesting! Warm Wishes to all...

We "suspect" that the lower denoms were printed at the same time as the original new design, but we don't know this to be a fact. One article said that 14 denominations were printed, which would indicate that smaller notes exist somewhere. The reason they weren't put into circulation was due to the rate. They were useless. Two different options would make them needed. One obviously would be our much-desired RV. The second, would be simply removing the three zero notes. The problem is that we don't know what they actually mean by this. In issuing a new currency, they don't "necessarily" have to increase the overall value of the "current" Dinar. They could simply mandate that all existing three zero notes be exchanged for the new currency in an amount equivalent to the newly assigned value. (exchange a 25,000 note for a new 25 Dinar note, five 5 Dinar notes, etc.) The third option wold be that they could do that exchange, and at the same time, increase the value of the individual Dinar by some small percentage, making the new Dinar roughly equivalent to a U.S. Dollar, which might give us a small profit. We won't know which option until they finally do SOMETHING, but all options require the issuing of small denom notes, and the primary motivation appears to be simplification of their banking system.

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