100,000 and 50,000 Dinar Notes????

[~Doc~]

Iraq: The Central Bank is planning to issue 100,000 dinars notes, and probably 50,000 dinars too. Presently the largest note of 25,000 dinars is worth USD21.45 at the spot rate. In the long run the idea is to re-denominate the currency by chopping off three zeros. (Courtesy Wolfgang Schuster and rferl) .................................................. ............25JUN11

http://www.mriguide.com/updates.htm

[aszone]

Well that really blows.... Lets see how the gurus spin this..

Edited June 27, 2011 by aszone

[cbisinger]

This sounds like fantastic news.

There is no clearer sign that the RV is iminent than this story simply because producing bigger notes does not solve anything at all.

The problem is not the size of the notes, its the mathmatics when making large transactions that might not even invvolve notes thats the problem.

As Iraq expands its econnomy more and more biger and biger transactions are taking place some going inot hundreds of billions so the the note story is utter mince, its just pure smoke and mirrors there is not a chance in hell that Iraq will print larger notes.

We are getting close when they start pouring out this dribble to try and make everyone think its not going to happen.

Relax RV Coming soon

[CO.5-0]

Thanx for the post.....According to the date at the bottom of the page, this guide was issued 01/01/11.....Realistically, the information they provide must have been gathered a significant amount of time earlier so that it could be compiled for publication prior to 2011....

[CoffeeDave]

wont happen because of counterfeiting

[VIZIOIRAQI]

That article was all smoke and mirrors intended for the European people lol I love it!!!

[sportfisher]

I'll take some 50k and 100k notes

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

Edited June 27, 2011 by sportfisher

[11 Bravo]

Why would you print new 100,00 and 50,000 notes just to lop them?

That is almost dumb enough to happen.

Why not just waite and print 50's and 100's?

[pokerplayer]

Off topic alittle bit here, but VIZIOIRAQI, what the heck is your avatar a picture of ?

Sorry all you other posters, but I just had to ask.

pp

[PartyTime]

His link takes you this article

http://www.rferl.org/content/iraq_said_planning_currency_overhaul_redenomination/24245867.html

This is the recent one that came out saying up to $100.

NOT $100,000

[Munsch]

http://www.mriguide.com/updates.htm

And who are these people to be trusted as a valueable news source to be true? Good thing this is in rumors though.

[DinarDana]

I have a question...I am not sure you can answer this but here goes. VizioIraq you posted an article in 2005 about the 14 notes (How odd I did a search in google and this was like 4th, thanks) and the CBI posts nine potential denominations (coins not being used (so, only seven are being used). So can we speculate on what those additional notes might be? I know this thread suggests 100,000 and 50,000 however it doesn't add up. Look forward to your comments. Thanks.

[sportfisher]

Why would you print new 100,00 and 50,000 notes just to lop them?

That is almost dumb enough to happen.

Why not just waite and print 50's and 100's?

Not gonna LOP them.

They can still use the 100k & 50k notes for bank transfers of cash after the RV.

maybe they will destroy some additional 25k notes when the 50k & 100k's are introduced, if they are?

[drox]

That article was all smoke and mirrors intended for the European people lol I love it!!!

Just curious Vizio as to what makes you say that? I looked at their website and it looks on the up and up but I wouldn't know either way. Do you have some background info you can share with us about this company. I see they are out of Houston but it looks like they have a Hong Kong office too. Thanks if you do.

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[nointel]

Thanx for the post.....According to the date at the bottom of the page, this guide was issued 01/01/11.....Realistically, the information they provide must have been gathered a significant amount of time earlier so that it could be compiled for publication prior to 2011....

yes this is an older article previously posted in the forums. if i'm not mistaken iraq was doing one of their so called studies on this subject. i believe if they issue these larger bills it is for interbanking transactions. but then again this is iraq and anything is possible.

[Bad Penny]

In the very same sentence they say"

"He added that large denominations equivalent to around $100 will be issued to simplify major purchases, and new coins and lower denominations will be introduced for smaller transactions.

WT# do they need coins and smaller denom's for? Is there anything in Iraq selling for fractions of a penny? I feel a lot dumber just for reading that sentence. Maybe they'll just sell them on ebay in "smaller transactions" and hoodwink people into thinking they had a RV?