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Does this constitute boots on the ground confirming?

My little Iraqi’s have no problem getting and using large bills here in Iraq

They are as common as a $20 or $100 in the states

Now they have told me that for large purchases they use dollars but have been doing that even since the initial sanctions under Saddam

So if the idea is to de dollarize Iraq then pulling in all or the large notes from circulation would be the opposite from what they should do

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He just said they have no problem getting large bills in Iraq. He said they are as common as 20s and 100s in the states. Sounds pretty clear to me there isn't a shortage.

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He just said they have no problem getting large bills in Iraq. He said they are as common as 20s and 100s in the states. Sounds pretty clear to me there isn't a shortage.

Well with 9 trillion IQD still in circulation, I wouldn't think it would be hard to find them either. However, there have been reports in articles that certain area's are having shortages. They also stated that they still use US Dollar's for large purchases. Pretty clear that our money is still being used. Another point that we might want to consider is the lower denoms have been printed and are sitting in the CBI. These bills would be included in the total 27 trillion that everyone, or at least the LOP proponents, worry about.

Keep in mind we have 1 trillion in bills in circulation with 300 million people. They have 9 trillion in bills in circulation with 30 million people. I would think they would be as common as our 20's and 100's.

Edited by speculatorsRIDE
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Well with 9 trillion IQD still in circulation, I wouldn't think it would be hard to find them either. However, there have been reports in articles that certain area's are having shortages. They also stated that they still use US Dollar's for large purchases. Pretty clear that our money is still being used. Another point that we might want to consider is the lower denoms have been printed and are sitting in the CBI. These bills would be included in the total 27 trillion that everyone, or at least the LOP proponents, worry about.

Keep in mind we have 1 trillion in bills in circulation with 300 million people. They have 9 trillion in bills in circulation with 30 million people. I would think they would be as common as our 20's and 100's.

Again I just simply don't see it. Cash is king in Iraq. They have nothing else. A few have bank accounts and smart cards but very few. Everything is cash and the 000 notes are critical to everyday business. Here is something posted by Nothing Ventured. Hope he or she doesn't mind me copying it.

I read a blog back in March about an American couple who lived in Iraq during 2009 to 2010 as teachers, and they wrote about their experience of getting used to working with ICQ.

“Living in Iraq”

http://carlcarolyn.blogspot.com/

The two excerpts below describe their first encounters with using the currency -dinar-.

Excerpts from their September 19, 2009 Journal

“..The currency here is the Iraqi dinar. The exchange rate is about 1,200 dinars to one US dollar so the 25,000 dinar note of which is the third of the above shots is worth about $21.00. When making our first round of grocery purchases it was hard to get used to laying out tens of thousands of dinars without at first having a sense of panic that I have made a mistake, and then having to re-adjust my thinking as to how much things really cost. A 1,000 dinar purchase is less than one dollar. The smallest denomination is 250 dinars, worth about 20 cents US. There are no coins. Cash is used for everything; credit cards simply are not used anywhere {and I am supposed to teach accounting.} I can only imagine the sheer volume of paper money a large store will accumulate in the course of a day’s sales. US dollars are accepted in many stores, as long as we are willing to accept change in dinars...”

Excerpts from their October 18, 2009 Journal

“..I realize that it is easy to idealize a world that I don’t know well, but I want to mention an aspect of life in Sulaimani that I really appreciate. That is, the basic honesty that pervades business interactions. We have mentioned before that this is a cash only economy. No credit cards. No checks. The end result is that people have to carry around large amounts of cash just to go about their daily lives. Businesses, likewise, keep large amounts of cash as they make transactions through the day. In the bazaar, there are people changing money on the street who carry stacks of cash as they stand along the street seeking business. As much as I have tried to learn Kurdish numbers, so I can know how much to pay when I say “Bah chana?” (how much?), I struggle to understand any numbers other than simple numbers like “penj hezar” (five thousand), an amount that is slightly less than $5.00. A number like 750 or 1,250 is still difficult to hear and understand because there are too many numbers coming at me too quickly. But I have learned that all I have to do is open my billfold to them and allow them to take money out, and it all works. I have a general sense of what things ought to cost, and would know if a person were about to rip me off by taking ID 25,000 when the bill is only ID5,000, but after numerous transactions, I can say that this simply doesn’t happen. They are careful to take only the cost of the item being purchased. Another example: in one of our early trips to Zara Market, mentioned earlier in this blog, I left the cash register and the store before receiving change from a transaction in which I had used US dollars, because I wasn’t sure that I had any change coming to me. As we were getting into the university van to come back to our villa, someone came running from the store with my change in hand – not very much, less than $5.00 – but change nevertheless. I am impressed with this sense of honesty, and wonder how it gets taught so..” broadly in a culture. I am not so naïve as to believe that there are no problems with theft, but the prevailing attitude about the handling of money is refreshing...”

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To set a date to see an RV by you are only setting yourself up for disapointment.....why would you just give up and sell out just because it doesnt happen by beginning of July?? It doesnt mean its not going to happen.....simply that they arent ready yet.....throwing a RV into the mix right now with things being so unstable would not benefit anything. Positions need to be filled and this whole draft about removing the zeros needs to be sent through parliment to be voted on, hopefully kicked out so that they will need to go back to the drawing board on what to do with the currency......this isent going to be something quick, it takes time!

Hi Keep,

I've been playing this investment probably different then most, I took a gamble and played the reserve shuffle. I decided to invest 6grand US in this opportunity, instead of just buying 5million outright, I chose to do a 5M reserve each month. Yes I know, it's a gamble, I bought a smaller sum outright and have those stashed away but each month I overlap 1 week where I have 10M on reserve. At some point my 6K investment ceiling will run out, for me that's June, I won't be buying a reserve in July.

You say that if it doesn't happen by July it just means they're not ready and that this isn't something quick but something that takes time.....yet how many folks have been in this thing for more than 5 years already. You can have a fairly good return on an investment if you let it ride for 5 years but nobody has made a dime off this yet......

My feeling is that if this thing hits July without an RV then it'll not happen this year and they'll extend protection another year. IF that happens there is more likely a development of a common middle eastern currency being introduced then there will be of an Iraqi RV. IM NOT A GURU, DON"T TAKE ANYTHING I FEEL AS GOSPEL. (disclaimer) I know that we here in North America have had discussions about a common currency between US, Canada and Mexico, similar to the Euro, and if you've paid attention to the news you'll notice we haven't heard much from this latest meeting of the Bretton Woods guild.....I'm a big picture kind of guy and I just see globalization as the next logical step, concentrating global areas into 4 world currencies makes sense. Especially as we transition into a more digitized financial system (everyone got the new google wallet app yet?) (how many folks 'pay at the pump'...it's happening, we're digitizing almost all transactions that's why they offer 'points' when you use your card, to train people to use their cards and not cash)

Anyway, my best case scenario is this RV's on Thursday, I'll have 2 reserves on the go....my worst case scenario, it never happens and I'm out 6K...I'm praying for Thursday.

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Hi Keep,

I've been playing this investment probably different then most, I took a gamble and played the reserve shuffle. I decided to invest 6grand US in this opportunity, instead of just buying 5million outright, I chose to do a 5M reserve each month. Yes I know, it's a gamble, I bought a smaller sum outright and have those stashed away but each month I overlap 1 week where I have 10M on reserve. At some point my 6K investment ceiling will run out, for me that's June, I won't be buying a reserve in July.

You say that if it doesn't happen by July it just means they're not ready and that this isn't something quick but something that takes time.....yet how many folks have been in this thing for more than 5 years already. You can have a fairly good return on an investment if you let it ride for 5 years but nobody has made a dime off this yet......

My feeling is that if this thing hits July without an RV then it'll not happen this year and they'll extend protection another year. IF that happens there is more likely a development of a common middle eastern currency being introduced then there will be of an Iraqi RV. IM NOT A GURU, DON"T TAKE ANYTHING I FEEL AS GOSPEL. (disclaimer) I know that we here in North America have had discussions about a common currency between US, Canada and Mexico, similar to the Euro, and if you've paid attention to the news you'll notice we haven't heard much from this latest meeting of the Bretton Woods guild.....I'm a big picture kind of guy and I just see globalization as the next logical step, concentrating global areas into 4 world currencies makes sense. Especially as we transition into a more digitized financial system (everyone got the new google wallet app yet?) (how many folks 'pay at the pump'...it's happening, we're digitizing almost all transactions that's why they offer 'points' when you use your card, to train people to use their cards and not cash)

Anyway, my best case scenario is this RV's on Thursday, I'll have 2 reserves on the go....my worst case scenario, it never happens and I'm out 6K...I'm praying for Thursday.

In my opinion you need to be prepared for this thing to go another 10 years. I know it probably wont but it might for all we know. There is alot of hype lately stating that it will happen soon but they have been saying that for years. The bottom line is that you should be prepared for the long term. It would be great if it happened tomorrow but I wouldn't hold my breath.

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