article on dd just posted about iraq printing new money

[TFK]

This is good news IMO- If they are printing lower denoms then the value of the currency must be going up. Here is a simple example.

Their currency was devalued in 2004. Before the de-value let's say a loaf of bread cost 1 dinar. After the devalue the cost was 1,000 dinar.

Now they will be rolling out new lower denom. If the don't revalue then they would have to give the store owner one thousand of the new 1 dinar bills.

There is no logic for them to print lower denoms unless the value of their currency is increasing - otherwise they could just use the existing 1,000 denom bill.

Regarding our currency Shabibi has already stated that the 2 currencies will co-exist so don't worry about your existing currency. For example if you own a 25,000 bill then the re-value rate will be applied against that bill.

As a side note did you know that the US at one time had denoms greater than a $100 bill?

Take a look at this website: http://www.highdenomination.com/index2.asp

You will see bills as high as $10,000. You can still walk into your bank and deposit the higher denom bills.

It's so nice to see people who get it!!!

This post is dead on!!!

[Starlifter]

I fail to see how it is good news when it is blatantly talking about printing new lower denoms with the Kurdish language and pictures on it. Sounds like a redomination, which truly sucks for us....

url="http://www.cbi.iq/index.php?pid=Banknotes"]CBI bank notes already printed[/url]

50 Dinar note 250 Dinar note 500 Dinar note

1000 Dinar note 5000 Dinar note 10000 Dinar note

25000 Dinar note 25 Dinar coin 100 Dinar coin

(not in circulation) (not in circulation)

These notes were all printed back in 2004 but not all placed in circulation. nothing like carrying a truck load of 50 Dinar notes to by a loaf of bread.

[tjmunson]

Why would it be political suicide?, Just curious. Why aren't they able to redominate and then begin the process of taking in all the large bills and replacing them with a lower denom with the kurdish language on it. I've said it before and I'll say it again. IF THE LOWER DENOMS WERE PRINTED IN 2003 ALONG WITH THE REST OF OUR BILLS, OUR 25k DINAR BILLS WOULD HAVE KURDISH LANGUAGE ON IT. I REALLY DON;t UNDERSTAND HOW THIS IS DIFFICULT TO UNDERSTAND.

I am however praying that every bone in my body is wrong about this recent article. Either way I'm ready to move on whether its a redomination or RV. Bring it CBI.

My comment in regards to "political suicide" is in regards to a new currency coming out that would replace the current currency and make it worthless. For Iraq to do such would be political suicide since all the countries that have helped liberate Iraq hold trillions of dinar and are waiting, as we are for the currency to be worth a lot of money.

If those countries are scorned in any way by Iraq creating a new currency, they would lose the support of every major country in the world. Thus a political suicide.

That's the way I look at it. Sometimes I take for granted that everyone is on the same page as me. then I realize I'm reading a different book. LOL

Peace

[WorkerBee]

Just show me the money. Upgradable you pretty much wrapped it up and tied it with a bow.

[Dalite]

The lower denom bills were printed the same time as the larger bills.They have been in storage waiting to be let out by the CBI.

Semper Fi !!!

Probably not.

These will bear both the Arabic and Kurdish language, a requirement of Article 140; the Erbil Agreement.

They will eventually replace all notes in circulation.

[yodamom]

IMO it's not much different than when the US took large bills out of circulation, but it will devalue nothing. It just gives the citizens the ability to break down the money into increments like we do. It doesn't devalue anything or what we are holding. They sold it to us for a price and if they revalue we will get our return. Just IMO

[weneedrv]

My comment in regards to "political suicide" is in regards to a new currency coming out that would replace the current currency and make it worthless. For Iraq to do such would be political suicide since all the countries that have helped liberate Iraq hold trillions of dinar and are waiting, as we are for the currency to be worth a lot of money.

If those countries are scorned in any way by Iraq creating a new currency, they would lose the support of every major country in the world. Thus a political suicide.

That's the way I look at it. Sometimes I take for granted that everyone is on the same page as me. then I realize I'm reading a different book. LOL

Peace

iraq could care less either way. you know why? because they have oil! sure if they rd it will piss alot of people off but these countries that liberated them probably know whats going on. do you think if iraqs main export was rice that we would have invaded back in 2003? hell no. oil is the main reason we are over there. even if they rd it will not be political suicide because they have oil!

[MAW33326]

Article link

Actually, there is a link but it is in arabic, I don't have translate, so here it is in arabic.

to translate in the future. Go to Google, top bar click more then translate, and paste the web page in the box.