Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

100k Dinar note


Spud
 Share

Recommended Posts

Could the 100K note indicate a RV of a small change, or that it is going to be some time before we have a RV? Just thinking out loud!!!!

Rozman :huh:

I am interested in hearing other opinions on this also.

To me, it means that, if implemented, it will delay major changes in the money supply.

Maybe they decided the county was too unstable to invite widespread investment, maybe it is to let Maliki wash out of the system.

Maybe it is Shabibi challenging Maliki, or just puling his strings to make him dance.

It is a kick the can down the road, we'll deal with it later measure, and it seems it will further delay things.

I am sure someone will bring up that it is just smoke and mirrors.

They seem to roll this out when the CBI us getting stonwalled by Maliki.

Is that what redenomination means? Thanks for clearing that up.

Go RV!!!!!!!!!!!!

(Sorry, Couldn't Resist..)

  • Upvote 1
Link to comment
Share on other sites

I believe they stated before that this note would be for inter-bank transactions only, and it is almost proof of an RV IMO,

so they have been taking the large notes out of circulation for a while, so just maybe they can afford a good RV. One can still hope.

I seem to think that if they do introduce the 100 K note there will be no RD or no RV. Why would they introduce a 100 K note just to remove the zeros? Why would they introduce a 100 K note if they were about to raise the value of the currecny? The argument can be made for my second question that it will be used for bank transfers only but this is what is said in the article.........have the ability to shorten quantities large financial aid, pointing out that trading continued to use the $100 is the biggest proof of the urgent need for the currency of this size. Salehi, and that the process of lifting of the zeroes needs time and official approval from the government and parliament, adding that the moment is Muhio to delete the zeros from the currency.

So since Iraqis are using 100 dollar bills to buy higher end items then Iraq wants to issue a 100 K note for Iraqis to use instead. Hmmm. He also says that the approval for the RD will take time but how much time could it really take? Enough to actually introduce a 100K note just to be used for such a short period? Doesn't make sense. Instead of wasting all kinds of time and money creating a new bill why not RV or RD? Articles like this one start to lead me to believe the smoke argument.

Man the gurus are gonna have a field day with this one.

  • Upvote 2
Link to comment
Share on other sites

Iraqi Central Bank Consultant: Soon to Issue Currency, a 100 Thousand Dinars

Palm – An adviser to the CBI the appearance of Mohammed Saleh, said that the Iraqi currency needed to expand and we will issue a currency of a 100 thousand dinars. Saleh added in a press statement that the central bank is considering the idea of re-structuring of currency in terms of specifications and forms so we will work to issue new categories of the coin have the ability to shorten quantities large financial aid, pointing out that trading continued to use the $100 is the biggest proof of the urgent need for the currency of this size. Salehi, and that the process of lifting of the zeroes needs time and official approval from the government and parliament, adding that the moment is Muhio to delete the zeros from the currency.

http://translate.goo…hp%3Fnid%3D4366

What does "Muhio" mean?

Also, I'm not saying smoke and mirrors, but I do find it strange that for the last few weeks we have seen practically daily articles coming out of Iraq about redenomination -- deleting the zeros from the currency -- and now this out of nowhere. It really does seem like they are playing games here -- at our expense I might add. ;)

Dinarck,

I'm thinking we're all going to have a field day with that post. Think I'll print it and remind you of it when needed. :P:P

Just teasing you, but I'm liking your post a lot. I agree, no redenomination, possibly no RV yet, but it gives me hope that there's something coming down the road.

Happy Thursday,

Kim

Edited by Kimberlye
  • Upvote 1
Link to comment
Share on other sites

I seem to think that if they do introduce the 100 K note there will be no RD or no RV. Why would they introduce a 100 K note just to remove the zeros? Why would they introduce a 100 K note if they were about to raise the value of the currecny? The argument can be made for my second question that it will be used for bank transfers only but this is what is said in the article.........have the ability to shorten quantities large financial aid, pointing out that trading continued to use the $100 is the biggest proof of the urgent need for the currency of this size. Salehi, and that the process of lifting of the zeroes needs time and official approval from the government and parliament, adding that the moment is Muhio to delete the zeros from the currency.

So since Iraqis are using 100 dollar bills to buy higher end items then Iraq wants to issue a 100 K note for Iraqis to use instead. Hmmm. He also says that the approval for the RD will take time but how much time could it really take? Enough to actually introduce a 100K note just to be used for such a short period? Doesn't make sense. Instead of wasting all kinds of time and money creating a new bill why not RV or RD? Articles like this one start to lead me to believe the smoke argument.

Man the gurus are gonna have a field day with this one.

This is a VERY feasible scenario. Go international, and let the exchange rate rise steadily in accordance of GDP, inflation, unrest, etc. No doubt the currency is worth more than it is now, but this is a possibility. Just trying to bring different angles to the table and read thoughts. Anyone?

Link to comment
Share on other sites

These notes will be for interbank transfers only. The public won't see or use them. They will help banks handle large sums, and help prevent counterfeiting and theft. It has nothing to do with notes in circulation. They'll be vaulted.

So much for e-transactions. Dang, its VERY frustrating on debating speculation. Especially when you're not even sure what is "news" and what is smoke. Arrrrrrgh.

Link to comment
Share on other sites

This is a VERY feasible scenario. Go international, and let the exchange rate rise steadily in accordance of GDP, inflation, unrest, etc. No doubt the currency is worth more than it is now, but this is a possibility. Just trying to bring different angles to the table and read thoughts. Anyone?

I have been thinking alot lately about how Iraq goes about removing themselves from the dollar peg and go international. I keep hearing when they RV they will go onto forex but why do they have to RV first? If they plan to raise the value of the IQD by starting to trade it on forex then how do they start to trade it on forex really is what I was trying to say. Anyone with knowledge of this process please chime in.

Or is it already available on forex but not internationally recognized? Confused still about all of this.

Edited by dinarck
Link to comment
Share on other sites

According to Yahoo! and maybe another forex site or two, it's (the dinar) is already there paired up to the GBPound. The U.S. has apparently hid aliens (among other things) from the public, so why can't the Iraqi's hide info? I mean, no government is totally transparent. Maybe the guru's intel is correct..... Nah. :lol:

  • Upvote 1
Link to comment
Share on other sites

I have been thinking alot lately about how Iraq goes about removing themselves from the dollar peg and go international. I keep hearing when they RV they will go onto forex but why do they have to RV first? If they plan to raise the value of the IQD by starting to trade it on forex then how do they start to trade it on forex really is what I was trying to say. Anyone with knowledge of this process please chime in.

Or is it already available on forex but not internationally recognized? Confused still about all of this.

I'd imagine they do something to eliminate wild fluctuations with the rate.

Link to comment
Share on other sites

These notes are not for interbank transfers....those are all done electronically now so there is no need for them....just as there is no longer a need for large US notes....

Since they have discussed these in the past....maybe they already printed them and have decided to go ahead and use them....having the 25k dinar as the largest note is an issue for them...including the 100k and 50k would solve that problem. If they are just now getting approval for the redenomination then perhaps it will take them a year to implement it and they would need 50 and 100 notes going forward anyway...so why not introduce them now then include them with the new notes when they redenominate.

I wouldn't think it would keep them from a RD...but it might push it back some....Since people will be exchanging smaller notes for these notes it wouldn't have any impact on their money supply...which would make it a fairly neutral event.

Or, maybe this is the back up plan if the CBI doesn't get approval on the RD from the GOI.

  • Upvote 1
Link to comment
Share on other sites

These notes are not for interbank transfers....those are all done electronically now so there is no need for them....just as there is no longer a need for large US notes....

Since they have discussed these in the past....maybe they already printed them and have decided to go ahead and use them....having the 25k dinar as the largest note is an issue for them...including the 100k and 50k would solve that problem. If they are just now getting approval for the redenomination then perhaps it will take them a year to implement it and they would need 50 and 100 notes going forward anyway...so why not introduce them now then include them with the new notes when they redenominate.

I wouldn't think it would keep them from a RD...but it might push it back some....Since people will be exchanging smaller notes for these notes it wouldn't have any impact on their money supply...which would make it a fairly neutral event.

Or, maybe this is the back up plan if the CBI doesn't get approval on the RD from the GOI.

Thanks jmw. That makes sense. Really good to see a post from you.

Link to comment
Share on other sites

Smoke and mirrors thats all trying to stop the bum-rush of the FX-market if it releases low............(say .0568) .Thats all.!!!!!!!!

Basically testing the market to see who,what where,when, and how it will do against the other flat in the region .................

  • Upvote 1
Link to comment
Share on other sites

I seem to think that if they do introduce the 100 K note there will be no RD or no RV. Why would they introduce a 100 K note just to remove the zeros? Why would they introduce a 100 K note if they were about to raise the value of the currecny? The argument can be made for my second question that it will be used for bank transfers only but this is what is said in the article.........have the ability to shorten quantities large financial aid, pointing out that trading continued to use the $100 is the biggest proof of the urgent need for the currency of this size. Salehi, and that the process of lifting of the zeroes needs time and official approval from the government and parliament, adding that the moment is Muhio to delete the zeros from the currency.

So since Iraqis are using 100 dollar bills to buy higher end items then Iraq wants to issue a 100 K note for Iraqis to use instead. Hmmm. He also says that the approval for the RD will take time but how much time could it really take? Enough to actually introduce a 100K note just to be used for such a short period? Doesn't make sense. Instead of wasting all kinds of time and money creating a new bill why not RV or RD? Articles like this one start to lead me to believe the smoke argument.

Man the gurus are gonna have a field day with this one.

If it is some more smoke then I hope it is the final curve ball, it seems so many articles are coming out lately

and most of the requirements are getting accomplished, so maybe low and inside for a home run. (Low RV)

Link to comment
Share on other sites

This is great news in my opinion. This definitely tells me they are either expecting the Parliament to veto the idea of an RD or that it will be postponed indefinitely. I know that many people feel like they will be dropping the 3 zeros off the currency but not the exchange rate. I just don't think that will happen although I would love that. Basically, I don't believe any coins or lower denominations were ever printed and in waiting as has been suggested by others through the years. The coins being discussed in this article could be referring to the 500 and 1000 note coins. IMO those are the most used and the ones that wear out the fastest.

So... it is my belief that "they" (the CBI) are counting on Maliki and the GOI to turn down the idea as well as turn down reprinting notes just for the Kurdish and English languages to be put on there too. That would thumb their face in their own Constitution, but they have been doing that since well before the elections anyway. So hopefully they will keep the existing currency and work with it. I believe the CBI would prefer that anyway. I think it has a better chance of RVing to a more premium price then RDing and then RVing. The 100k notes make it easier to do transactions in the marketplace. Those notes would be used for all commerce transactions and not just interbank IMO. Wouldn't we rather see the rate raise to a penny or even ten cents versus RD and maybe go to $3? Perhaps it could go even higher I'm not sure. Lots of variables to consider. This is awesome news to me.

Think about this... why would they consider minting a 500 and 1000 coin if they were going to turn around and RD? Makes no sense whatsoever. They would become $500 or $1000 coins or else 50 cents or $1 (but with confusing extra zeros on a "minted" coin). I would suggest neither of those scenarios would work. So to me... they plan on keeping the same currency in circulation now for a long, long time. We shall see. Thanks Jim1Cor13!

  • Upvote 2
Link to comment
Share on other sites

Ok, I'm a newbie so if this is stupid don't shoot me LOL. If everyone over there uses usd and they are used to it then if they rv at 1 to 1 and introduce the 100k they would have the same denoms as the usd except with 3 o's which the people are used to and then a rd would be a much flatter learning curve and not so confusing as they took the large bills out of circulation slowly.

Edited by BULLY! BULLY!
Link to comment
Share on other sites

I'm surprised no one else is aware of the intent of these bills.

It is amazing. It is as if ignorance (lack of knowledge) is the norm, and without any knowledge, speculation ensues, and in a rampant manner. They feed off of each other. These wild speculations are truly stunning. How could you think a 100k note means LOP if you had been READING any news and/or keeping up on the information about your investment. There will be no LOP BTW.

Do so many have so little invested that they check in on the progress and news like they would show up every Friday night at the Moose Lodge? I understand new people, it is an educational process. The serious investors, or individuals that are curious, are the ones paying attention, and some bring their well thought out opinions and analysis to the table for discourse and debate. The rest is just crap.

Then there are those that just care about being educated as to what is happening in the world. Iraq does affect us as Americans. How do you think this all started? And guess what, you as an American have paid a lot for it, in treasure and sacred life. You might want to know about that investment at least. What a concept.

Oh, well, back to bacon.

Edited by Carrello
  • Downvote 4
Link to comment
Share on other sites

Ok, I'm a newbie so if this is stupid don't shoot me LOL. If everyone over there uses usd and they are used to it then if they rv at 1 to 1 and introduce the 100k they would have the same denoms as the usd except with 3 o's which the people are used to and then a rd would be a much flatter learning curve and not so confusing as they took the large bills out of circulation slowly.

Dang it BULLY BULLY. Your first post and you have given me a headache. I am off to find the aspirin and then I will try to decipher what you said again.

  • Upvote 1
Link to comment
Share on other sites

These notes will be for interbank transfers only. The public won't see or use them. They will help banks handle large sums, and help prevent counterfeiting and theft. It has nothing to do with notes in circulation. They'll be vaulted.

Z, I agree. found this on another site.

10:27 AM [shedco] 8ball what is the meaining of the 100,000 dinar i am hearing about

10:27 AM [AMG55] much*

10:28 AM [8ball] Kuwait has been paid some but not all

10:28 AM [8ball] shedco --- well I heard but not concerned

10:29 AM [shedco] OK

10:29 AM [8ball] I expect Iraq to send things out like that

10:29 AM [8ball] You have to stand firm in your beliefs

10:29 AM [8ball] otherwise I will get a headache

10:30 AM [AMG55] If true, I think it would just be a government to government or bank/ treasury kind of thing shedco

10:30 AM [8ball] I choose to ignore anything coming out of teh CBI

10:30 AM [8ball] they can't tell us the truth

10:30 AM [8ball] As far as when

10:30 AM [8ball] and whether it will RV

10:30 AM [AMG55] Well, I did sort of trust Shabs.

http://breitlingcurrency.blogspot.com/2011/07/8ball-chat.html

  • Upvote 1
Link to comment
Share on other sites

I have been thinking alot lately about how Iraq goes about removing themselves from the dollar peg and go international. I keep hearing when they RV they will go onto forex but why do they have to RV first? If they plan to raise the value of the IQD by starting to trade it on forex then how do they start to trade it on forex really is what I was trying to say. Anyone with knowledge of this process please chime in.

Or is it already available on forex but not internationally recognized? Confused still about all of this.

Make sure you stir the pot and get the fear moving around. Especially when you don't have all the answers. Way to go. Perfect.

  • Downvote 5
Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.