CBI decides to restructure the Iraqi currency

[BondLady]

ty for the comment...but see it didnt say it made those 14 notes an coins in 2006 altho they could have...but its always been my thots per the coins...that they waited on those to print till recent, because in the irbril agreement...and its 1 of the things the kurds have wanted for a long time was to have kurdish language put on the currency, so if the currency paper was already done before this, then it would make sense to put the kurdish language on the coins because if the currency was already done. but i dunno lol BL

[MrFnHappy]

ty for the comment...but see it didnt say it made those 14 notes an coins in 2006 altho they could have...but its always been my thots per the coins...that they waited on those to print till recent, because in the irbril agreement...and its 1 of the things the kurds have wanted for a long time was to have kurdish language put on the currency, so if the currency paper was already done before this, then it would make sense to put the kurdish language on the coins because if the currency was already done. but i dunno lol BL

That is from Aug 2005. It states "They highlighted a series of steps that have

already been taken, including:"

http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf

[BondLady]

That is from Aug 2005. It states "They highlighted a series of steps that have

already been taken, including:"

http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf

yes i agree but agin it didnt say when those were printed it only said they had completed them which they released the 50 in 2003 along with the 000 and 00 notes so the 50 is definantly a lower denom leading me to believe they were printed then why else would they have ever released the 50 see what im sayin ? and ty BL

[MrFnHappy]

Ok, one or both of us is/was confused I agree, other notes (likely smaller denoms) were printed right from the get-go, and have yet to be released. FWIW, if I'm not mistaken, the notes cost somewhere between 6-7 cents each to be produced, and the current value of a 50 dinar note is about 4 cents.

[zaborniake]

Interesting timing of this article too. UNSC meets today, and Shabbs is in Rome tomorrow and Friday for the International Arab Banking Conference.

[shiFT_yourworld]

I am always conservative and grounded in this investment. But I will admit in having a hard time not getting excited. These past 2 weeks have been interesting to say the least.

[2fast4u2c]

Where is Keep and EASY?????

[jmw]

ty for the comment...but see it didnt say it made those 14 notes an coins in 2006 altho they could have...but its always been my thots per the coins...that they waited on those to print till recent, because in the irbril agreement...and its 1 of the things the kurds have wanted for a long time was to have kurdish language put on the currency, so if the currency paper was already done before this, then it would make sense to put the kurdish language on the coins because if the currency was already done. but i dunno lol BL

It is more likely to be the new currency that will be used during the re-denomination...doesn't really matter when they were printed and since they have been discussing re-denominating for years..then it is likely that they printed them in 2006.

To me the question of why and when they would need small denoms post RV is a very interesting dilemma...since the change only applies to outside goods and currency exchange...Iraqis would only see a price devaluation on imported goods and this would not take place until new items are purchased as those on the shelf would be sold at the normal mark up...prices would change once new items are brought it...which then begs the question of when would salaries be adjusted...surely they can't remain at current levels....and if salaries were adjusted then what happens with loans?...and why would salaries be adjusted if the price only change for imported items?...so many questions...best to look at what is most likely and sustainable.

[rcarter]

Somebody shoud check Obama"s schedule.......he will be sure to visit Washington when the RV happens......

[Hesalwayswithus]

I am always conservative and grounded in this investment. But I will admit in having a hard time not getting excited. These past 2 weeks have been interesting to say the least.

I'm right there with ya! For the last year that I've had my dinar I never once looked at the news in Iraq because my dad has some too and told me he would call as soon as he heard about a RV....and then 2 weeks ago I looked at an article and got curious and it's been quite exciting to follow. Hope it happens soon!

[easyrider]

I am always conservative and grounded in this investment. But I will admit in having a hard time not getting excited. These past 2 weeks have been interesting to say the least.

o how the tables turn lol honestly if yolu can't get excited over this article then well you should'bt be in this investment.

Edited June 22, 2011 by easyrider

[Candinar]

That is from Aug 2005. It states "They highlighted a series of steps that have

already been taken, including:"

http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf

So if they "already" printed the 14 different denoms, then take the 9 posted on the CBI site and ADD the 1's-5's-10's-20's-100's you now have 14.

So they will "lift" or "raise" the large notes with the the 3 zeros from circulation slowly and "delete" or "remove" the 3 zeros on the nominal rate leaving it

at .86 or 1.17. IMO.

[Nothing-Ventured]

Somebody shoud check Obama"s schedule.......he will be sure to visit Washington when the RV happens......

I just read this article, and Iraq's parliment speaker "Osama al-Nujaifi" is visiting Washington to talk about the missing Billions of oil money, but the article also states that he will be "discussing several issues"

BAGHDAD, Jun 22, 2011 (AFP)

http://www.zawya.com/story.cfm/sidANA20110622T113150ZRGK99/Iraq_Says_It_Wants_Its_Missing_Billions_From_US

[proteus]

as I read this thread...

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:

This simply means that they will produce new currencies in denominations equal in denomination size to the us...( 1, 5, 10, 20, 50, 100 dinar bills)

they will need these for transactions to happen internationally...

that's my take on the statement!

[Nothing-Ventured]

So if they "already" printed the 14 different denoms, then take the 9 posted on the CBI site and ADD the 1's-5's-10's-20's-100's you now have 14.

So they will "lift" or "raise" the large notes with the the 3 zeros from circulation slowly and "delete" or "remove" the 3 zeros on the nominal rate leaving it

at .86 or 1.17. IMO.

I LIKE YOUR OPINION!

[tjmunson]

I think that is a fair overall translation.

My thoughts, exactly...

That's exactly what I took away from it as well. You know what they say, great minds.......

[Tiffani929]

I am always conservative and grounded in this investment. But I will admit in having a hard time not getting excited. These past 2 weeks have been interesting to say the least.

Ok, you have my attention! Now I'm getting a little (more) excited !

[tjmunson]

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

I love you, BondLady!!!

[InItSince05]

If it would be August coming up.... then he would say NEXT August. Otherwise he's speaking past tense.

Exactly.....he's speaking about last August IMO.

[BondLady]

I love you, BondLady!!!

well thank you lol have a great day...BL

[IowaDinar]

Excellent!Forex World Site

[zaborniake]

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 wondered how long Shabbs would take before he finally threw down the gauntlet. I'm sure he's yanking the rest of his hair out over the squabbling that's going on, and preventing his project from being implemented. I guess we just reached that point.

[BondLady]

I wondered how long Shabbs would take before he finally threw down the gauntlet. I'm sure he's yanking the rest of his hair out over the squabbling that's going on, and preventing his project from being implemented. I guess we just reached that point.

hi zab nice to see u hun and yes i agree been a long time commin and hes past bein ready...very exciteing times for us as investors as we watch this poker hand play out BL

[FishmanTx]

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.

If they choose to RD, it doesn't necessarily negate or change the value of the notes you now hold. As I've said before, too many people here want to deal in absolutes. Due to the complexity of what is required for the value of their currency, I expect to see anything but a straight forward solution. There are too many possibilities including straight and partial RD and/or RV, RV with or without incremental increases, etc., ad nauseum. I would bet my left hind leg though that it will NOT be a sudden overnight occurance. Remember the great unwashed masses? The people and the markets HAVE to be educated on what is going to happen and what they are supposed to do. That info WILL leak out.

JMHO

[dirtrider]

Good Find,

Things are starting to get interesting......