CBI decides to restructure the Iraqi currency

[Polar]

no, I am sorry, you are not reading it right. It says it will be raised to equal $100 usd.

I think you mean, are you INTERPRETING it right?

This is pretty good news and I think its the real deal this time. I always thought Saleh would be the one to announce it.

rich in tx

There is nothing confusing in this statement in my mind, right now the IQD is = to 1070/$. Theu wish to make it = to 100/$ or a little over a 10x reval, Or to look at it another way its like dropping 1 zero. Either way you make more than 10x your investment.

[MrFnHappy]

who pays for this new wealth and with what?....it would be nice...but I don't see a war torn country having the ability make the rest of the world wealthy...

Shushhhhhh, it's magic, dontcha' know.......

[Markinsa]

who pays for this new wealth and with what?....it would be nice...but I don't see a war torn country having the ability make the rest of the world wealthy...

Where did Iraq's wealth go when the value of the OLD Dinar dropped?

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[Goeers]

He added that "the central bank will raise the level of the local currency and the development of new currencies up approach to U.S. $ 100, which would address the economic gap in the system of financial payments in the country."

Read more:

To me this reads: We will increase the value of our money ( possibly 1 dinar= 1 dollar)and produce new bills in the amounts up to US $100 (such as 1's, 5's,10's, 20's) to address the gap in the system blah blah blah.............

[jmw]

Where did Iraq's wealth go when the value of the OLD Dinar dropped?

-

it went away with hyper-inflation...if that is why you invested you might think about buying some Zimbabwe dollars...here is an interesting read on it...

http://en.wikipedia.org/wiki/Zimbabwean_dollar

[Hesalwayswithus]

He added that "the central bank will raise the level of the local currency and the development of new currencies up approach to U.S. $ 100, which would address the economic gap in the system of financial payments in the country."

Read more:

To me this reads: We will increase the value of our money ( possibly 1 dinar= 1 dollar)and produce new bills in the amounts up to US $100 (such as 1's, 5's,10's, 20's) to address the gap in the system blah blah blah.............

Sounds like an accurate interpretation to me... at least I hope so

[jmw]

Shushhhhhh, it's magic, dontcha' know.......

crap...now they are on to us!..

[Confused]

I believe you are mistaken. IF they implement a straight-up rd, 3 zeros will be removed from currency AND the exchange rate. The current value of the 25k note is approx. $21.50. The value of the new 25 note would also be $21.50. The end result. Your 25k note, when presented for exchange, would be treated as a 25 note.

Hope this helps.

No, doesn't clear things up for me. I will be very upset if my 25,000 notes end up being worth only $21.50. I still think there will be a window to cash-in before the 3 zeros are dropped. This whole dropping the zeros still blows my mind and I still don't understand it.

[2fast4u2c]

Goers...I hope you are correct. I can see the translation being either way but I do not beleive a 1 cent RV will accomplish their goals. Having said that, I will take it...lol

[Dalite]

He added that "the central bank will raise the level of the local currency and the development of new currencies up approach to U.S. $ 100, which would address the economic gap in the system of financial payments in the country."

Read more:

To me this reads: We will increase the value of our money ( possibly 1 dinar= 1 dollar)and produce new bills in the amounts up to US $100 (such as 1's, 5's,10's, 20's) to address the gap in the system blah blah blah.............

I think that is a fair overall translation.

My thoughts, exactly...

[tommyboy]

I really like this explanation:

"There is nothing confusing in this statement in my mind, right now the IQD is = to 1070/$. Theu wish to make it = to 100/$ or a little over a 10x reval, Or to look at it another way its like dropping 1 zero. Either way you make more than 10x your investment."

Better than this one:

"He added that "the central bank will raise the level of the local currency and the development of new currencies up approach to U.S. $ 100, which would address the economic gap in the system of financial payments in the country

To me this reads: We will increase the value of our money ( possibly 1 dinar= 1 dollar)and produce new bills in the amounts up to US $100 (such as 1's, 5's,10's, 20's) to address the gap in the system blah blah blah.............

How about you?

I mean, could you possibly get a wider spread of what people think was said? Just shows how two people read the same sentence and get two completely different meanings from it.

Right now, I really don't care. I'm stunned and amazed that something's finally going to happen.

GO RV !!

[Candinar]

He added that "the central bank will raise the level of the local currency and the development of new currencies up approach to U.S. $ 100, which would address the economic gap in the system of financial payments in the country."

Read more:

To me this reads: We will increase the value of our money ( possibly 1 dinar= 1 dollar)and produce new bills in the amounts up to US $100 (such as 1's, 5's,10's, 20's) to address the gap in the system blah blah blah.............

Yes, very well interpreted. But the loppers will try to spin it anyway they can because that is what they do best. Still unbelievable that people would invest money into something that may just break even and yet they hang out in forums and spew off to anyone who believes in their investment. We shall see soon.

Edited June 22, 2011 by Candinar

[BondLady]

no, I am sorry, you are not reading it right. It says it will be raised to equal $100 usd.

I think you mean, are you INTERPRETING it right?

This is pretty good news and I think its the real deal this time. I always thought Saleh would be the one to announce it.

rich in tx

sorry lol but its talkin about releasing the lower denominations from 1 to 100 iqd notes lol...BondLady

[MotorCity]

If you consider that one US barrel of oil makes 44 gallons of fuel, multiplied times $4 a gallon, equals $176. Even though the world price is $100 a barrel, it generates a lot more at the pump in terms of profit not only for the country generating the oil, but for the oil company transporting, refining, and all the taxes added by governments for their coffers...Many countries tax so much gas is $5-$8 a gallon!

Iraq produces 75 million barrels a month now, and should reach 100 million barrels a month by years end, so we can project over 1,000 million barrels over the next year, not including natural gas, gold, etc...

$100 times 1,000,000,000 is One Thousand Billion Dollars.....The market value will double when oil hits $200 a barrel!

Exploration for more oil has just resumed after 30 years, and 80% of Iraq was never explored! Their true reserves of oil is projected at 300 Trillion Barrels of Black Gold!

Iraq could increase their production to 10,000 million barrels a year for 30 years before running out!

[Stradergrl]

Yes, very well interpreted. But the loppers will try to spin it anyway they can because that is what they do best. Still unbelievable that people would invest money into something that may just break even and yet they hang out in forums and spew off to anyone who believes in their investment. We shall see soon.

Exactly!!!!!

[FrankenSLI]

Is this true??? With a article like this it is almost coming out and saying "WE ARE RV'ING!" This timebomb is on a short fuse!

[BondLady]

i posted this on the other article from yesterday... BondLadys comments on DV concerning fresh's article 6/22/11

i hope yall dont mind me interjecting my thoughts here i discussed this article in your chat room yesterday ....my theory is that shabs got tired of waiting for them to quit fighting and set the gov, so he came right on out because inflation is eating them up...and said hes ready for the next step and the final step rests with in the house of reps, but he says in a week to 10 days hes gonna unleash the lower denominations into the iraq economy...he says its not gonna change inflation its not gonna help the economy its not gonna change the rate, because the house has yet to pass the documents the laws per say to increase the rate imo because there all waiting for a complete gov to be formed to move on to this stage...so shabs got tired of waiting an hes sayin all these thing wrong with the economy the rate and the 000 its not the cbi fault weve been ready and whether the gov is ready or not were gonna release the ld's within a week to 10 days....now.......by doin this it has or will IMO force the gov to sit move on pass the bill because if they dont....with the people already upset theve waited a yr and a half for a gov a better life and better living conditions ...thru it all theve depended on shabibis words about realeasing a new currency that would be worth something an increase there buying power an give them a better life....now shabs bein very smart just thru the glove down to the goi and said whatever happens at this point on is on u and not the cbi were ready to realese the ld's if u dont set a rate by passing the bill of the new rates then the demonstrations and this is imo will be worse than they can imagine they will be millons of people flood the streets because they will have to carry a ton of pretty but worthless currency just to buy a coke they will be burning this extremly expencive currency in the streets by the boat loads as they will not understand...all theyll know is its gonna make them carry a lot more to buy what they need at 1170 so this move by the very smart shabibi just may make them quit screwin around an get the show on the road for fear of what the people will do if they dont have a new rate when they release this....any ways its the way i see it hope im right and hope that helps...drops the mic an walks off BondLady

Edited June 22, 2011 by BondLady

[Carrello]

I believe you are mistaken. IF they implement a straight-up rd, 3 zeros will be removed from currency AND the exchange rate. The current value of the 25k note is approx. $21.50. The value of the new 25 note would also be $21.50. The end result. Your 25k note, when presented for exchange, would be treated as a 25 note.

Hope this helps.

OOOOOhhhhhh, wait a minute. That is too easy to understand. Can't have that. 80% wouldn't have anything to talk about anymore if they read your post and thought about it. Nnnnoooooo. no no no no. Too easy. Your theory would cease whining as we know it!

[Don & Rocio]

i posted this on the other article from yesterday... BondLadys comments on DV concerning fresh's article 6/22/11

i hope yall dont mind me interjecting my thoughts here i discussed this article in your chat room yesterday ....my theory is that shabs got tired of waiting for them to quit fighting and set the gov, so he came right on out because inflation is eating them up...and said hes ready for the next step and the final step rests with in the house of reps, but he says in a week to 10 days hes gonna unleash the lower denominations into the iraq economy...he says its not gonna change inflation its not gonna help the economy its not gonna change the rate, because the house has yet to pass the documents the laws per say to increase the rate imo because there all waiting for a complete gov to be formed to move on to this stage...so shabs got tired of waiting an hes sayin all these thing wrong with the economy the rate and the 000 its not the cbi fault weve been ready and whether the gov is ready or not were gonna release the ld's within a week to 10 days....now.......by doin this it has or will IMO force the gov to sit move on pass the bill because if they dont....with the people already upset theve waited a yr and a half for a gov a better life and better living conditions ...thru it all theve depended on shabibis words about realeasing a new currency that would be worth something an increase there buying power an give them a better life....now shabs bein very smart just thru the glove down to the goi and said whatever happens at this point on is on u and not the cbi were ready to realese the ld's if u dont set a rate by passing the bill of the new rates then the demonstrations and this is imo will be worse than they can imagine they will be millons of people flood the streets because they will have to carry a ton of pretty but worthless currency just to buy a coke they will be burning this extremly expencive currency in the streets by the boat loads as they will not understand...all theyll know is its gonna make them carry a lot more to buy what they need at 1170 so this move by the very smart shabibi just may make them quit screwin around an get the show on the road for fear of what the people will do if they dont have a new rate when they release this....any ways its the way i see it hope im right and hope that helps...drops the mic an walks off BondLady

Thank you BL....exciting times right now!!

[Kanga]

Is this true??? With a article like this it is almost coming out and saying "WE ARE RV'ING!" This timebomb is on a short fuse!

Sorry you'll I am a conservative by nature so IMHO there is only a 50% chance this will RV by July 10th, are you ready 2011.

90% chance by the end of the year.

[Nothing-Ventured]

Love your theory Bondlady, and thanks for your posts here on DV!

The way I understand it, when Iraq’s currency was printed, there were 9 denominations, but the smaller ones were held back. I have searched everywhere to find documentation on that, but couldn’t find anything. So hopefully, in 10 day’s or so, this mystery will reveal itself..?

Oh the anticipation!

[MrFnHappy]

Yes, very well interpreted. But the loppers will try to spin it anyway they can because that is what they do best. Still unbelievable that people would invest money into something that may just break even and yet they hang out in forums and spew off to anyone who believes in their investment. We shall see soon.

He expressed the IMF in August / August, his support of the Iraqi economy in the event of having a number of economic measures including the privatization of banks and raise three zeroes from the currency local and honoring debt and compensation is the responsibility of Iraq.

Read more:

I believe you are mistaken as to who is spinning what......I don't like it either, but it can't get much clearer. It does appear they will rd and rv at the same time....$1 or so seems likely

OOOOOhhhhhh, wait a minute. That is too easy to understand. Can't have that. 80% wouldn't have anything to talk about anymore if they read your post and thought about it. Nnnnoooooo. no no no no. Too easy. Your theory would cease whining as we know it!

I was striving for simplicity......

Edited June 22, 2011 by MrFnHappy

[BondLady]

Love your theory Bondlady, and thanks for your posts here on DV!

The way I understand it, when Iraq’s currency was printed, there were 9 denominations, but the smaller ones were held back. I have searched everywhere to find documentation on that, but couldn’t find anything. So hopefully, in 10 day’s or so, this mystery will reveal itself..?

Oh the anticipation!

ty hun......see if u read the other article 1st then this one it makes a lotta sense, because its telling iraq were realeasing the 1,5,10,25 and 100 i raqi dinar notes, and i cant prove it either about them have printed all the currency before when they took the saddam notes, but what supports my theory that they were all printed at the same time they did the 000 and the ,00 notes is that they released the 50 iqd too theres absolutley no reason for them to have released that 50 iqd note unless they already had the others then too an even 8 yrs ago were prepairing the people for this restructure of the currency, the 50 sure didnt have any worth..the paper was worth more very expencive currency the most expencive in the world to print.... so again shabibi imo is warning the gov an parl better hurry...cause the lower denominations are comming..BondLady.

[MrFnHappy]

ty hun......see if u read the other article 1st then this one it makes a lotta sense, because its telling iraq were realeasing the 1,5,10,25 and 100 i raqi dinar notes, and i cant prove it either about them have printed all the currency before when they took the saddam notes, but what supports my theory that they were all printed at the same time they did the 000 and the ,00 notes is that they released the 50 iqd too theres absolutley no reason for them to have released that 50 iqd note unless they already had the others then too an even 8 yrs ago were prepairing the people for this restructure of the currency, the 50 sure didnt have any worth..the paper was worth more very expencive currency the most expencive in the world to print.... so again shabibi imo is warning the gov an parl better hurry...cause the lower denominations are comming..BondLady.

The three guests from the Central Bank discussed the bank’s

plan to enhance the Iraqi banking sector and financial markets

throughout 2006. They highlighted a series of steps that have

already been taken, including:

• Establishing the Central Bank’s independence from the

Ministry of Finance

• Training 70% of the bank’s staff on international best

practices

• Printing a series of 14 new Iraqi Dinar notes and coins

[Nothing-Ventured]

ty hun......see if u read the other article 1st then this one it makes a lotta sense, because its telling iraq were realeasing the 1,5,10,25 and 100 i raqi dinar notes, and i cant prove it either about them have printed all the currency before when they took the saddam notes, but what supports my theory that they were all printed at the same time they did the 000 and the ,00 notes is that they released the 50 iqd too theres absolutley no reason for them to have released that 50 iqd note unless they already had the others then too an even 8 yrs ago were prepairing the people for this restructure of the currency, the 50 sure didnt have any worth..the paper was worth more very expencive currency the most expencive in the world to print.... so again shabibi imo is warning the gov an parl better hurry...cause the lower denominations are comming..BondLady.

I just had a "light bulb" moment..! I never looked at the -50- before, but what you said, makes so much sense! Cool-Beans..! I only scanned the other article, so I will go back and read it again, I must have missed the part about the releasing the lowers denoms.