50,000 & 100,000 notes introduced to the banks

[theodore]

http://www.mriguide.com/updates.htm is this for real. Have they been hiding this from us, and have they

already voted on this. Could they have already voted on the smaller notes also.

[blonde_minx]

Hi take a look at the thread.........interesting chat

Edited July 1, 2011 by blonde_minx

[idplzr]

Unless I missed something it just stated that Cbi is planning on releasing 50K and 100K notes. It also stated the 25K note is the largest currently. It also stated further down they are designing a currency that will include Kurds.

[LS1Hawk]

Well if this is the case, this destroys the idea of a RV of a 1 to 1 or close. So they introduce larger bills to make up the gap of their currency being near worthless, OR I pray these larger bills are for oil contracts. I'm so confused. This whole talk about removing the zeros seems to be propaganda?

Definately going to be watching this thread.

[jupitergirl]

http://www.mriguide.com/updates.htm is this for real. Have they been hiding this from us, and have they

already voted on this. Could they have already voted on the smaller notes also.

Thanks for the info. Interesting!

[dinarck]

If in fact this is the case the removal of the three zeros vote will not be "soon" as Shabs has said.

Wonder where that site gets their info. Surely we would have heard more about this by now. There was an article or two that hinted towards it but you would think Iraq would be more specific about it.

[Hesalwayswithus]

if they really are doing this.....their country is probably going to collapse. Iraqis are about to lose it with their government because they have no money, which is why they were in desperate need of a RV. So if they push this off longer, the people there are going to go off the deep end with their government. Just my thoughts on it. Hope the RV still happens soon but with all this bad news coming out of Iraq, one can only think that there's some idiots trying to pull the strings and they're only taking their country down again.

Edited July 1, 2011 by Hesalwayswithus

[Uncle Barkie]

The part of the article I'm concerned with states that in the long term plans, a 25k dinar note will become a 25 dinar note after they rd. But then, this is Salih speaking so who knows. I'll just wait and see . Either way , we stand to make money , even if it's just several thousand.

Uncle Barkie

[tosmith96]

There is no way they are coming out with a 50,000 & 100,000 Dinar note. It was an article a couple months back in regards to them coming out with that type of denomination but to my knowledge they didnt vote on it.

The article that came out last week basically said what they were going to do. Come out with a denomination class just like US.. (pun intended) 100,50(which is already in circulation), 25, 10, 5, & 1 Dinar notes..

[dflake]

If in fact this is the case the removal of the three zeros vote will not be "soon" as Shabs has said.

Wonder where that site gets their info. Surely we would have heard more about this by now. There was an article or two that hinted towards it but you would think Iraq would be more specific about it.

Follow their link, it goes to article already posted here on DV:

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

[Kinnie88]

I believe one of our Gurus that rides a scooter explained the large notes for bank exchanging of currencies. Not to be used by the public.

[Carrello]

Large notes would never be used for public consumption, banks and government only. The US has large notes also, but they are used for bank to bank, or government transactions only. If a normal person had a large note like this, it would be very difficult to cash-in, not to mention counterfeit. I doubt that Warren Buffet could get his hands on a 10k IQD.

This link connects to somebody selling MRI Guides. Do you really want to react to this, or do some research to see if it is correct, and not just some fact mixed with opinion?

[starvenmarvin]

Don't get all upset , My closest friend has owned a 100.000.00 dinar note for over two years, I have seen this in person, it came from his friend who is a financial adviser in texas. who bought a mill. or more all 100.000.00 notes is what I was told. BUT I HAVE SEEN THIS ONE HERE IN SPOKANE

I will try and get a picture the first part of next week

[Darin]

Large notes would never be used for public consumption, banks and government only. The US has large notes also, but they are used for bank to bank, or government transactions only. If a normal person had a large note like this, it would be very difficult to cash-in, not to mention counterfeit. I doubt that Warren Buffet could get his hands on a 10k IQD.

This link connects to somebody selling MRI Guides. Do you really want to react to this, or do some research to see if it is correct, and not just some fact mixed with opinion?

I believe your right.. I was in the process of posting a response in the ****Very Interesting Chat**** about this particular issue & it became locked (Not sure why..... It is very informaitonal and could use the discussion).

I highly doubt we see this 100k note when or if it becomes into existance. I believe the potential high-end value alone in the end would cause problems with counterfeits and so forth. I see it as bank to bank transfers and government use. The concept of releasing this note goes against all the articles talking about removing, deleting, or lifting the 000s. So, in reality, how can they continually speak of doing this and than add higher denoms with 000s??? Wouldn't make any sense right? If you refer to Shabbs visit in Washington, he made note that the 000s were added due to the inflation factor from the previous regime. Releasing a 100k is similar to saying that inflation is an issue still (At 7%?? Can't see that being the answer)

The following is a copy/paste from an article that was released roughly 01:20 EST on July 1st

Section Economic News

Added by nabaa nabaa

Views 125 125

Date Added 23/06/2011 - 18:39 23/06/2011 - 18:39

Last Updated 01/07/2011 - 12:39 01/07/2011 - 12:39

Nboalabaria | -

. Central Bank of Iraq, "he decided to restructure the local currency in order to develop the payment system in the country.

. The appearance of Mohammed Saleh, "The Central Bank of Iraq has decided to start the execution of the strategic and long-term specialized restructuring of the local currency to the development of the payments system in Iraq.

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

He said the project for restructuring the local currency, which started gradually need to support the government and Parliament that it will hold purchasing power compared Palmdjulat economic development.

*******

Bolded a few spots of interest...

Basically, whatever they "were" planning, this appears to state they're executing the process.....

I believe the article may have been lost a little in translation, so I would love to have it re-translated other than a google source.

Because, as of now, we can put many positive spins, or negative spins on it.

For example, I would love to know what they mean by Palmdjulat as that is likely just a bad translation.

[FishmanTx]

I couldn't see the need for it in bank to bank transfers either. What happened to the brand new electronic system they just put in?

As Shabs ALMOST said in the USCOC video... propaganda. Smoke and misdirection. Information like this and others could be used as propaganda to slow dinar sales and keep everyone guessing. Who knows what they're really going to do. It's going to be complex, but you can bet it'll be geared towards their own self-interest. These guys have tried for years to get out of their debt, to get everyone to just "write it off" (that was a quote!).

I'm not trying to start the "old debate" again as to which way they're going to go, but I will say this...

When dealing in propaganda, one would think that the one thing they try to deny or hide the hardest is what is really going to happen.

JMHO

Edited July 1, 2011 by FishmanTx

[Darin]

I couldn't see the need for it in bank to bank transfers either. What happened to the brand new electronic system they just put in?

As Shabs ALMOST said in the USCOC video... propaganda. Smoke and misdirection. Information like this and others could be used as propaganda to slow dinar sales and keep everyone guessing. Who knows what they're really going to do. It's going to be complex, but you can bet it'll be geared towards their own self-interest. These guys have tried for years to get out of their debt, to get everyone to just "write it off" (that was a quote!).

I'm not trying to start the "old debate" again as to which way they're going to go, but I will say this...

When dealing in propaganda, one would think that the one thing they try to deny or hide the hardest is what is really going to happen.

JMHO

Well, I think they may start off with hard-currency and digitize them upon a complete process of making banking electronic everywhere within the nation. This could be a potential band-aid until that sector is running 100%.

Another theory: Foreign central banks to hold the funds as reserves...

Bump up your reserves, and you may increase the breathing room. Time will tell how this unfolds..

[FishmanTx]

Well, I think they may start off with hard-currency and digitize them upon a complete process of making banking electronic everywhere within the nation. This could be a potential band-aid until that sector is running 100%.

Another theory: Foreign central banks to hold the funds as reserves...

Bump up your reserves, and you may increase the breathing room. Time will tell how this unfolds..

That's an expensive bandaid!! LOL I doubt it, I still think they're full of $h%t.

[PacoTaco]

This will be for banks only the. All is good. Now Go RV!!!

[FRUSTRATED]

Well if this is the case, this destroys the idea of a RV of a 1 to 1 or close. So they introduce larger bills to make up the gap of their currency being near worthless, OR I pray these larger bills are for oil contracts. I'm so confused. This whole talk about removing the zeros seems to be propaganda?

Definately going to be watching this thread.

I'm as impatient as anybody but it makes absolutely no sense to say the are they are going to introduce the lower denoms if they don't RV at the same time.A 20 dinar note would be worth $0.017 cents ,a 100 dinar note would be worth $0.085 cents so you see lower denoms = RV

[STI4RV]

Well if this is the case, this destroys the idea of a RV of a 1 to 1 or close. So they introduce larger bills to make up the gap of their currency being near worthless, OR I pray these larger bills are for oil contracts. I'm so confused. This whole talk about removing the zeros seems to be propaganda?

Definately going to be watching this thread.

Its bank to bank only. Or for country to country use. The US will have 100K notes to be used for the purchase of oil. US banks have similar large bill notes that are not for public use.

[RocketDinarest]

I personally would like to see higher bank notes than lower denoms, because that would take the LOP out of the equation. And since Iraq is a very wealthy country in natural resources, their exchange rate could only go up, and that is how we make our profit. Just my personal opinion!

[keepmwlknfny]

I dont think this is a bad thing......Drox laid out a pretty good RV scenerio with them introducing these larger bills....I for one like this better then the idea of deleting the zeros....if you havent read it, find Drox last post he made about these larger bills....makes sense to me at least!!

[Chassisman]

Is this it Keep?

[frankc]

if they really are doing this.....their country is probably going to collapse. Iraqis are about to lose it with their government because they have no money, which is why they were in desperate need of a RV. So if they push this off longer, the people there are going to go off the deep end with their government. Just my thoughts on it. Hope the RV still happens soon but with all this bad news coming out of Iraq, one can only think that there's some idiots trying to pull the strings and they're only taking their country down again.

Well Vietnam hasn't collapsed and their currency is more worthless than iraq's.

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

Read the posts by Brian in the thread below the article. What he describes may very well happen.

[Jac]

Hi take a look at the thread.........interesting chat

This is just a Dinar Trader this isw not aniything but! Check out the pages on the web site and you note this to be true.

Have no fear they are sellilng currency nothing new!

God Bless America!